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Mwana signs JV agreement with Zhejiang

6th February 2013

  

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JOHANNESBURG (miningweekly.com) - Diversified resources company Mwana Africa has signed a joint venture (JV) agreement with China’s Zhejiang Hailiang, covering 28 licences held by Mwana in the Katanga copper belt region in south-eastern Democratic Republic of Congo (DRC).

In August 2012, Mwana entered into a cooperation and development agreement (CDA) for these licences with Zhejiang, which required that the parties enter into a JV agreement to implement the CDA.

"This JV allows our copper exploration and development programme in the DRC to be significantly accelerated. We are also excited at the prospect of advancing Kibolwe in the near term. We look forward to working closely with Hailiang in what we expect will be a very productive relationship,” Mwana CEO Kalaa Mpinga said in a statement.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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