Zambian mining company Mimosa Resources has attracted US$3 million of investment for its Kashime Copper Mine project near Mkushi in Central Province.
Final feasibility studies and preparatory development is now underway at the mine, with the initial investment being funded by Australian Stock Exchange-listed Zeta Resources, a resources-focused investment company.
Mimosa Executive Chairman, Jordan Soko, says Zeta’s initial US$3 million investment in Mimosa demonstrates its confidence in the project, the company, and its local expertise.
“Zeta has followed Mimosa’s progress for a while, and this is its first investment in Zambia,” said Mr. Soko in a statement issued to RCV News in Lusaka today.
He said the development of the Kashime mine and processing complex will have wider developmental benefits for the communities around the mine, Mkushi town and the country.
Mr. Soko said this will contribute to the national aspiration of 3 million tonnes of copper production per year in the medium term.
“Mimosa’s mission is to build a Zambian mining champion delivering value to stakeholders while supporting the development of local mining skills, business opportunities and community projects,” said Mr. Soko.
He said Mimosa also seeks to be a catalyst for the development of other Zambian-owned mining opportunities through commercial arrangements that leverage Mimosa’s capabilities, partnerships, and investor base, either on a standalone basis or as a link into Mimosa’s mining value chain.
By Eva Hatontola
