HIGH GRADE COPPER DISCOVERED, MINING EXPERT CALLS FOR TRANSPARENCY
Written by Mafken FM Newsroom on 5 February 2024
By Dockiso Zulu
A mining start-up backed by Billionaires, Bill Gates and Jeff Bezos says it has found a vast copper deposit in Zambia, offering a potential boost to the west’s efforts to cut its reliance on China for metals that are vital to decarbonise everything from cars to power transmission systems.
KoBold Metals says the copper deposit found at Mingomba site in Chililabombwe District on the Copperbelt, is the largest in a century, estimating it to become one of the world’s top three high-grade copper mines.
And reacting to the development, Mining expert Charles Mulila is elated with the discovery, stating that government however, needs to be transparent by making public the details of the exploration license that will lead to the awarding of the mining license.
Mr Mulila has also proposed that, government through ZCCM-IH negotiate for a 49-51 percent shareholding portfolio just like they did with Mopani Copper Mines, in order for Zambia to start benefiting on a larger scale from its resources.