Zambia is known for its copper, but it is also a great gold producer with a number of active mines. It is a good country for anyone interested in mining in Africa, particularly because a lot of potential gold deposits are yet to be explored while at the same time the country has enjoyed a stable political system for a long period of time.
With the government seeking to expand the countries mining capacity there is an opportunity for investment in the Zambia gold mining sector.
Mining History in Zambia
The history of gold mining in Zambia dates back to 1902 when the white settlers begun exploration activities in the country. However, it is important to note that much of the mining in the country is small scale with little use of modern mining technologies.
The country has twenty known large gold mines that include Matala, Sasare and Dunrobin. These mines have produced about two tons of gold each. More than 300 other gold occurrences have been reported in the country by exploration geologists. With the government issuing a number of exploration permits in the recent past, the discovery of more gold deposits is likely to position Zambia as one of the leading gold producers in Africa.
As an upcoming gold producer in Africa, a number of multinational companies have expressed their desire to invest in the country’s gold sector. In fact, several international gold mining companies have exploration licenses and are already conduction exploration in several places.
Some of the leading players in the exploration and mining of gold in Zambia include:
Luiri Gold Company
This is an Australian multinational company that has interest in both gold and copper exploration in Zambia. The firm has a large-scale gold exploration license that covers the wider Luiri Hills, the same region that has both Matala and Dundrobin gold mines.
According to the initial infill drilling done in 2010, the Luiri hills gold deposit has estimated resource of up to 422,000 ounces of gold. The company has been working on the development project since 2013 and is likely to commence commercial gold mining in the next five years. With a huge investment in the exploration drilling, the company has promising preliminary findings that suggest that the gold deposit could be having high quantity high-grade gold ore.
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CHILUBI Minerals Limited
This is a relatively new minerals prospecting company having been incorporated in 2010. Chilubi Minerals limited is a local outfit with 100% Zambian ownership. The company got its first large scale prospecting license in 2014. The license gave the company the rights to prospect for copper and gold in the Bangweulu minerals project that is set in Chilubi-Lungingu districts within the Northern Province. This license guaranteed the company the power over an area of roughly 1000 square kilometers.
In 2015, the company discovered gold and copper deposits in its Bangweulu Copper Project. This discovery puts the company in the position to start plans for mining process that is expected to start before the year 2020.
Alecto Minerals PLC
This is another major player in Zambia’s gold mining sector. The company acquired both the Matala and the Dunrobin gold mines and has put in place a system to finalize the design, construction, and the management of the two gold mines. Both Dunrobin mine and the Matala mine are located in the south central Zambia region that is sometimes known as the Mwembeshi Shear Zone.
Gold deposits have been found in several places within the Matala Dome. The initial assessment of the mines shows that the Matala gold deposit is estimated to be around 568,000 oz.