Gaddafi was a tyrant and a big ally of Mugabe - Gaddafi’s death means one less comrade less for Mugabe, - said Iden Wetherell, an editor of the Zimbabwe Independent.
Caledonia Nama Limited, a wholly-owned subsidiary of Caledonia, holds four contiguous large-scale mining licences, which cover an area of 806 square kilometres on the northern extension of the Zambian Copperbelt and hosts open-pittable near-surface low-grade cobalt/copper mineralisation.
This area lays immediately north-west of the operating Konkola Copper Mine (KCM) and adjoins the extensive holdings of KONNOCO.
Gold higher at 1658.30 (+16.33). Silver 31.622 (+0.264). Dollar lower. Euro steady. Stocks called higher. Treasuries mixed.
Caledonia Mining Corporation Joins OTCQX NEW YORK, Oct. 17, 2011 /PRNewswire/ --
OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade over-the- counter ("OTC") stocks, announced that Caledonia Mining Corporation (OTCQX: CALVF; TSX: CAL; AIM: CMCL), an African focused mining, development and exploration company, is now trading on the highest tier of the OTC market, OTCQX®.
Caledonia Mining will begin trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on http://www.otcqx.com and http://www.otcmarkets.com
"OTCQX provides the highest level of visibility and access to U.S. investors possible in the OTC marketplace," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Caledonia Mining to OTCQX."
Collins Stewart LLC will serve as Caledonia Mining's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.
About Caledonia Mining Corporation.
Caledonia Mining Corporation (OTCQX: CALVF; TSX: CAL; AIM: CMCL) trades in the United States on OTCQX under the symbol "CALVF", in Canada on TSX under the symbol "CAL" and in the United Kingdom on the Alternative Investment Market of the London Stock Exchange under the symbol "CMCL". Caledonia Mining is an African focused mining, development and exploration company. Caledonia's main assets are the Blanket gold mine in Zimbabwe, which produces 40,000 oz of gold per annum, the Nama Cobalt/Copper Project in Zambia and the Rooipoort & Mapochs PGE Projects in South Africa.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB® (the U.S. reporting company marketplace for development stage companies), and OTC Pink™ (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit http://www.otcmarkets.com
CALVF has some advantages with comparison to USA and Canada - e.g., low taxes; Corporate Income tax at 25% - lower labour cost but a happy work force - Indigenisation program Mugabe talked about for 20 years - but the leading Peoples opposition don't want - year 2015 is a deadline - self declared king pin Mugabe 88yrs old is sadly in serious cancer sickness - Blanket Gold Mines Project - the capacity of the secondary and tertiary crushers was increased to over 2,000 tpd and the capacity of the rod mills was increased to 1,800 tpd. The product from the regrind mill is pumped into a carbon in leach ("CIL") plant consisting of eight, 600 cubic meter leach tanks equipped with 45 kW agitators where leaching at 50% solids and simultaneous adsorption of dissolved gold onto activated carbon takes place. The CIL plant has a design capacity of 3,800 tonnes of milled ore per day. Elution of the gold from the loaded carbon and electro winning is done on site. Gold is deposited onto wire wool cathodes, the loaded cathodes are acid-digested and the resultant gold solids are smelted to produce gold bullion of approximately 90% purity, prior to Blanket exporting it directly to Rand Refinery in South Africa for final refining and sale. The full proceeds of sale (i.e. before payment of any royalty) are paid to Blanket's foreign currency account with a commercial bank within approximately 7 days of receipt of the gold by Rand Refineries. http://www.caledoniamining.com/blanket3test2.php
Konkola Copper Mines (KCM) is Zambia's largest copper producing mine and is majority-owned by Vedanta Resources. Vedanta bought KCM from Anglo American in 2004. Since then, Vedanta have overseen a scaling up in its operations while presiding over an extremely poor record on environmental abuses, infringements on internationally accepted labour standards and has continued to pay very little tax to the national government.
current status (Apr 18, 2011) Zambia's Konkola Copper Mines (KCM) plans to invest $172 million in a new copper treatment project with a 13 year lifespan. The proposed project is planned to produce 50,000 tonnes of finished copper per year. As a news article reports: "The materials will be treated using a process known as agitated leaching. This process uses acidic solutions to treat the materials into finished copper."
brief history In 1990s mining companies took advantage of the fact that the Zambian state was desperate to secure new investment to negotiate their purchase of the state-owned Zambia Consolidated Copper Mines (ZCCM) assets under ‘Development Agreements’ that exempt them from covering most of ZCCM’s liabilities, including pensions for its employees, from paying most taxes, and from many national laws, for example on environmental pollution. These agreements have a highly unusual legal status, only otherwise accorded the Zambian Constitution. They cannot be contradicted by future legislation as ‘Stability Periods’ ensure the policies in place when agreements were made cannot be changed for between 15 and 20 years. In some cases, by the end of these periods, all of the copper ore remaining in the mines will have been removed. Given their massive implications, what is amazing about the Development Agreements is that they had been kept secret until uncovered in 2006.
CALVF has some advantages with comparison to USA and Canada - e.g., low taxes; Corporate Income tax at 25% - lower labour cost but a happy work force - Indigenisation program Mugabe talked about for 20 years - but the leading Peoples opposition don't want - year 2015 is a deadline - self declared king pin Mugabe 88yrs old is sadly in serious cancer sickness - Blanket Gold Mines Project - the capacity of the secondary and tertiary crushers was increased to over 2,000 tpd and the capacity of the rod mills was increased to 1,800 tpd. The product from the regrind mill is pumped into a carbon in leach ("CIL") plant consisting of eight, 600 cubic meter leach tanks equipped with 45 kW agitators where leaching at 50% solids and simultaneous adsorption of dissolved gold onto activated carbon takes place. The CIL plant has a design capacity of 3,800 tonnes of milled ore per day. Elution of the gold from the loaded carbon and electro winning is done on site. Gold is deposited onto wire wool cathodes, the loaded cathodes are acid-digested and the resultant gold solids are smelted to produce gold bullion of approximately 90% purity, prior to Blanket exporting it directly to Rand Refinery in South Africa for final refining and sale. The full proceeds of sale (i.e. before payment of any royalty) are paid to Blanket's foreign currency account with a commercial bank within approximately 7 days of receipt of the gold by Rand Refineries. http://www.caledoniamining.com/blanket3test2.php
Ps. Zimbabwean Prime Minister Morgan Tsvangirai is in South Africa to promote the launch of his autobiography "At the Deep End". He spoke to ABN's Godfrey Mutizwa about the indigenization law -
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