Business

Blackthorn given mining licence

TRYNESS MBALE, Lusaka
GOVERNMENT has granted Blackthorn Resources Limited a large-scale mining licence for the development and operation of the Kitumba project in Mumbwa.
The Kitumba mining licence was granted following a comprehensive review of Blackthorn Resources’ application to the Ministry of Mines, Energy and Water Development following the approval of the environmental impact statement by the Zambia Environmental Management Agency (ZEMA).
Blackthorn Resources managing director Mark Mitchell said the Kitumba mining licence has been granted for an initial 25-year period.
“This is a significant milestone for Blackthorn Resources and confirms the support of the Zambian government for the development of the project. We now look forward to advancing the project through the definitive feasibility study and working with all stakeholder groups to develop a socially and environmentally responsible, as well as profitable asset in Zambia,” Mr Mitchell said in a statement posted on Blackthorn website.
Meanwhile, Mr Mitchell said the company intends to implement a scheme with its partners Intrepid Mines for the project.
He said Blackthorn Resources Scheme of Arrangement Granting of the Kitumba mining licence by November 28, 2014 is one of the conditions to the scheme of arrangement, as announced by the company on August 28, 2014.
He said some of the conditions of implementing the scheme are approval of the arrangement by Blackthorn Resources shareholders, receipt of the Intrepid Mines shareholder approvals for both the merger with the company and the Intrepid share buyback.
Mr Mitchell said the scheme is also subject to a number of authorisations being obtained from the Competition and Consumer Protection Commission.
Blackthorn Resources is an Australia-based mining company with a focus on advancing the project and exploring high-priority exploration targets on its 163 square kilometre mining area in Mumbwa.
The project is 100 percent owned by Blackthorn Resources through its subsidiary Blackthorn Resources (Zambia) Limited.


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