Zambian national mining firm ZCCM Investments Holdings (ZCCM-IH) on Wednesday announced that it had incorporated a mining company called ZCCM Gold Company last week.
ZCCM Gold will spearhead and manage gold mining activities in Zambia, which will include exploration, mining, processing, marketing and value addition.
ZCCM Gold is 51% owned by ZCCM-IH and 49% by the Zambian government.
The ZCCM-IH board said it was confident that ZCCM Gold would add value to the company’s current mining portfolio, provide an opportunity for ZCCM-IH to expand its activities in the mining sector and contribute to the National Treasury.
ZCCM-IH holds interests in various mining companies in Africa that are mainly focused on copper concentrate production, as well as the production of cobalt and manganese.