ZCCM Gold Company has injected approximately K45 million for the initial phase of the Kasenseli Gold Mine Project in Mwinilunga.
Speaking during a courtesy call on Chief Chibwika early April, ZCCM-IH Chief Executive Officer Mabvuto Chipata indicated that it has taken a bit of time to start the operations at the mine due to a number of statutory and regulatory approvals that are required.
Mr Chipata said that ZCCM-IH is a listed entity and cannot start any operations without obtaining the necessary and required approvals.
He said ZCCM-IH is required to comply with best corporate Governance practices as required by the Lusaka Securities Exchange listing rules, the Mines and Minerals Development Act, the Zambia Public Procurement Authority Act, and the Zambia Environmental Management Authority Act.
Commenting on the coming on board by ZCCM-IH, Chief Chibwika expressed happiness that this will help address the challenges they have been facing in the area with regards to security and the need for development in the area and the district.
He appealed to ZCCM Gold that preference should be given to the local community in terms of jobs and local participation in the supply of various goods and services.
Chief Chibwika said that there is a lot of expectation from the local community with the coming of ZCCM Gold.
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.
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.
ZCCM Gold is owned 51% by ZCCM-IH and 49% by the Ministry of Finance.