AIM-LISTED copper and cobalt producer Camec has agreed to buy former Anglo Platinum-owned platinum properties in Zimbabwe through the acquisition of British firm Lefever Finance, which it said on Friday could be producing from 120 000 oz/y to 150 000 oz/y in 18 months.
It would pay Meryweather Investments, Lefever's owner, $5-million along with 215-million new shares, leaving the seller with a 13% holding in Camec, headed by former English cricketer Phil Edmonds.
Lefever owns 60% of Zimbabwean firm Todal Mining, which has the rights to certain platinum concessions in Zimbabwe.
State-owned Zimbabwe Mineral Development Corporation (ZMDC) holds the balance of Lefever.
No information on Meryweather was available in a statement distributed by PR Newswire.
The key assets held by Todal were the Bougai and Kironde claims situated in the southern part of the Zimbabwe Great Dyke, 60 km south west of Gweru.
The claims all had nearby power, road, railway and water supply, Camec said.
Mining Weekly Online
READER OPINIONS
CALL ME MARTHA, ARTHUR • NA Subject: MINING MOGULS EMBRACE ZIMBABWE! Sat, 12 Apr 2008 11:05:13 • Good news at last!
How exciting and positive is this then?
Have just checked CAMEC and SABOT out on the web - very impressive!
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