ZCCM Investment Holdings subsidiary ZCCM Gold has initially invested around K45 million in the Kasenseli Gold mine project in Mwinilunga.
This was after ZCCM Gold was granted an exploration license at the end of March 2020 by the Ministry of Mines.
In a statement made by ZCCM Public Relations Manager Loisa Mbatha Kakoma, ZCCM embarks on undertaking detailed exploration aimed at finding the exact position of the underground gold deposit.
She states that the mining and processing of the surface gold is pending approval of the Environmental Project Brief by the Zambia Environmental Management Authority (ZEMA), and the granting of the mining license by the Ministry of Mines.
“ZCCM-IH through ZCCM Gold has been mandated to drive the national gold agenda, working in collaboration with the Ministry of Mines and Minerals Development and other stake holders.” She stated, “ZCCM Gold is undertaking and overseeing all gold related investments throughout the gold value chain in the country including exploration, mining, processing, refining, marketing, trading and beneficiation in Zambia.”
She states that the initial capital injection will also go to fencing off the license area to prevent intruders from accessing the area.
She adds that over 40 locals will be employed in the fencing exercise scheduled to start this week.
Kasenseli area in Mwinilunga has been descended on by fortune seekers looking to grab a share of the gold.
President Edgar Lungu last week replaced North Western Province Police Chief Hudson Namachila with Luapula Province Commissioner Elias Chushi.
The Head of State expressed disappointment with police’s failure to provide enough security to secure gold deposits in North Western Province.
The ruling Patriotic Front also recently suspended its North Western Province chairman Jackson Kungo to pave way for investigations into allegations of corruption at the Kasenseli mine.