Chibuluma
mine in Kalulushi on the Copperbelt, might be part of the acquisition of
Zambian-based Metorex operations in Zambia by Chinese mining giant, Jinchuan.
Jinchuan,
which also has a 51 per cent stake in Munali nickel mine, are in talks for a
possible takeover of Metorex, a South African mining company, which owns
Chibuluma.
The
Mazabuka-based nickel mine has however shutdown due to failed sustained
operational costs attributed to the plummeting metal prices on the
international market.
According
to the South African media, Metorex has since announced the suspension of its
listing on the Johannesburg Stock Exchange.
The
company, which also operated Sable Zinc in the central town of Kabwe, has
confirmed the suspension of its listing on the JSE effective 9th January
2012.
The
decision has been attributed to the finalisation of the announced9.1 billion rands
takeover of Metorex by China's Jinchuan Group.
Metorex
stocks on the JSE will therefore trade for the last time on 6th
January 2012.
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