ZCCM Gold injects K45m in Kasenseli project

ZCCM Gold Company has injected K45 million for the initial phase of the Kasenseli Gold Mine Project in Mwinilunga.

ZCCM Gold moved on site and started mobilisation in the first week of April 2020 to undertake detailed exploration that will determine the extent of gold mineralisation in the licence area. In a statement, ZCCM Investments Holdings Plc public relations manager, Loisa Kakoma said the extensive exploration works which included geophysics, geochemistry and diamond drilling activities were aimed at delineating the hard-rock (underground) gold deposit in the licence area. Ms Kakoma said the mining and processing of the alluvial (surface) gold was pending approval of the Environmental Project Brief (EPB) by the Zambia Environmental Management Authority (ZEMA), and the granting of the mining licence by the Ministry of Mines. She said part of the capital injection would go towards the fencing of the licence area to avoid and prevent any intrusion from outsiders. “Over 40 locals will be employed in the fencing exercise scheduled to start this week. The fence is an additional security measure to the state security that is already on the ground and keeping vigil, patrolling the area to wade off any illegal activities,” he said. Earlier, ZCCM-IH chief executive officer Mabvuto Chipata indicated that it had taken a bit of time to start the operations at the mine due to a number of statutory and regulatory approvals that are required. Mr. Chipata said that ZCCM-IH was a listed entity and cannot start any operations without obtaining the necessary and required approvals. He said ZCCM-IH was required to comply with best corporate Governance practices as required by the Lusaka Securities Exchange listing rules, the Mines and Minerals Development Act, the Zambia Public Procurement Authority Act, and the Zambia Environmental Management Authority Act. ZCCM-IH through ZCCM Gold has been mandated to drive the national gold agenda, working in collaboration with the Ministry of Mines and Minerals Development and other stake holders. ZCCM Gold is undertaking and overseeing all gold related investments throughout the gold value chain in the country including exploration, mining, processing, refining, marketing, trading and beneficiation in Zambia. ZCCM Gold is owned 51 percent by ZCCM-IH and 49 percent by the Ministry of Finance.