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Mining & Natural Resources
resource and re-equipping of existing infrastructure,
which includes the No. 2 shaft, a 423-metre-deep
vertical shaft, two ventilation shafts and three ore
haulage levels. At the east limb, TEAL is consider-
ing various options to access the mineralization. The
Konkola North Copper Project is adjacent to the ex-
isting Konkola Copper Mines Plc (KCM), which has
existing operational mining infrastructure.
Once a feasibility study has been done and Konnoco
has taken a mine development decision, TEAL will
subscribe for new Konnoco shares so as to equity
finance one-third of the total financing requirements
for mine development. Thereafter, ZCCM-IH has the
right to a 15% to 20% equity interest in Konnoco,
of which 5% will be a free carried interest. ZCCM-
IH’s residual 10% or 15% ‘paying’ equity interest
will obligate ZCCM-IH to fund its share of equity to
develop a mine, although ZCCM-IH may elect to be
debt funded by TEAL.
ZAMBEZI RESOURCES LTD
Willie Sweta
Executive Chairman
Plot 5777N
Great East Road
PO Box 50395
Lusaka
Tel: +260-211-291645 / Fax: +260-211-292411
willie.sweta@zambeziresources.com.zm
www.zambeziresources.com
Zambezi Resources Limited is focused on adding
shareholder value by exploring for and developing cop-
per and gold projects in Southern Zambia. The basis
for the company’s strategy is Zambian mineral endow-
ment, international capital and Australian expertise.
Zambezi established a local company called Mwem-
beshi Resources, through which it operates in Zambia.
Zambezi Resources has identified seven major
project areas that it is actively exploring. The pro-
jects have been identified as Iron Oxide Copper
Gold (IOCG) type deposits and also shear-hosted
gold deposits. These projects are contained within
eight prospecting licenses covering an area of over
16,000km². Zambezi Resources currently retains
100% ownership of its projects, although Zambia’s
abundant mineral endowment has led the company
to seek joint venture partners to assist with funding
exploration on some of its projects.
Zambezi Resources became listed on the London
Stock Exchange’s AIM in July 2004, raising £2.5 mil-
lion. Since then it has raised an additional £14 million
on AIM through subsequent placements, including a
strategic placement to Glencore. In July 2007, the
company successfully listed on the ASX through an
IPO, raising an additional AUD$15 million. To accel-
erate the company’s exploration activities in Zambia,
the company is drawing from AUD $25 million raised
in 2007, together with US$16 million from Glencore.
The global credit crunch was hard on Zambezi Re-
sources, however through a recapitalization process
and strong management, the company pushed
through and is now poised for serious growth.
Zambezi Resources has an operations office in Lu-
saka and houses its technical staff in a small admin-
istrative and technical support office in West Perth,
Western Australia.
“Our main goal at Zambezi Resources is to fully ex-
plore the mining and mineral potential of Zambia and
to add to our shareholders value”
Willie Sweta
Executive Chairman
ZAMBIA CHAMBER OF MINES
Frederick Bantubonse
General Manager
Corner of Ntundwe/Maina Soko Dr.
PO Box 260566, Kalulushi
Tel: +260-212-730743/4 / Fax: +260-212-730302
comines@iwayafrica.com
The Chamber of Mines is the voice of the Zambian
mining sector and facilitator of relations between the
public and private sector. The Chamber helps facili-
tate mining sector interaction with government, or lo-
cal peoples, and is uniquely placed to help members
resolve issues of taxes, regulatory issues, and many
others issues that may arise while operating in Zambia.
The Chamber of Mines seeks to promote and ex-
pand the mining sector not only by promoting in-
vestment into the sector but also by attempting to
work with the government to make the country and
industry a much more investment friendly environ-
ment. The Chamber advocates on behalf of the
mining sector, working with the government, the IMF,
the World Bank, and other international and regional
organizations. The Chamber is a forum within which
members are able to create a set of common issues
on behalf of the sector. As a single, harmonized and
unified voice, more can be achieved for all members
than if they each pursued their private interests in-
dividually.