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Australian-based mining company, ALBIDON is
in talks with a potential partner for its Munali nickel mine in Zambia.
This is in continued efforts to resume
production at the embattled and only nickel mine in Zambia.
China's state-owned Jinchuan Group
International Resources, which has a 51 per cent stake in the mine, is
embroiled in a spat with minority shareholders over control. Jinchuan's
shareholding will be reduced once ALBIDON reaches a deal with an investment
partner.
According to the AUSTRALIAN online
publication, ALBIDON has since granted the unnamed potential partner exclusive
due diligence.
ALBIDON company secretary, Noel
McAuliffe says details of the discussions and the identity of the third party,
are subject to normal confidentiality for now.
The Munali nickel mine was shut
down and placed on care and maintenance on reasons of unsustained operational
costs owing to plummeting global nickel prices.
The mine, which has an annual
production capacity of 60,000 metric tones, has also suffered a spate of
operational disruptions since early this year, ranging from miners' strikes to
accidents, leading to several stoppages.
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