Monday, October 01, 2012 6:34:14 PM
Zambia is famous for its significant reserves of copper and
cobalt, located in the Zambian Copperbelt province, however,
the country is also a miner and producer of selenium and
silver. Gold, platinum, and palladium are also produced as
a by-product of copper mining.
In 2001, the first full year mining operated as a privatised
industry, Zambia recorded its first year of increased
productivity since 1973. Further, surging copper prices from
2004 to the present day has rapidly rekindled international
interest in Zambia’s copper sector.
Mining Weekly takes a look at some of the flagship projects in the landlocked country.
Caledonia Mining Corporation -
("Caledonia") (TSX: CAL, NASDAQ-OTCBB: CALVF and AIM: CMCL)
is pleased to announce the signing of a cobalt off-take agreement
with a large Chinese refiner.
Under the terms of the agreement, Caledonia will supply a minimum
of 21,000 tonnes of cobalt metal equivalent in the form of cobalt
hydroxide from its Nama Cobalt Project over the next six years.
The agreement specifies that the price shall be based on the
published monthly average for 99..3% cobalt from the London Metal
Exchange, and contains a guaranteed "Take or Pay" minimum cobalt
price of US$12/lb of cobalt metal.
The agreement is renewable.
Caledonia Mining Corp (CAL) Key Statistics for CALVF/CAL -
talk about GOLD bargain -
http://www.bloomberg.com/quote/CAL:CN/key-statistics
Some good info here:
http://www.caledoniamining.com/pdfs/CALPres08142012.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80097093
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