ZCCM Forms 51% Kyalo Goldfields Venture to Formalize Zambia Gold Rush
Updated
Updated · Bloomberg · May 18
ZCCM Forms 51% Kyalo Goldfields Venture to Formalize Zambia Gold Rush
1 articles · Updated · Bloomberg · May 18
ZCCM Investments Holdings said Monday it will own 51% of newly formed Kyalo Goldfields Ltd., a joint venture aimed at bringing artisanal gold mining into the formal economy.
Mining Mineral Resources Sprl will hold the remaining stake, and the vehicle was incorporated on May 6 to build gold-processing capacity alongside formalized trading.
North-Western Province is the venture’s focus after a disorderly gold rush erupted there last year, giving Zambia a state-backed structure to regulate and channel activity in the area.
Can Zambia's new state-led venture finally tame its wild artisanal gold rush?
Will a new 'prosperity bond' truly deliver wealth to Zambia's small-scale miners?