{"id":34797,"date":"2026-05-18T20:49:47","date_gmt":"2026-05-18T18:49:47","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=34797"},"modified":"2026-05-18T22:33:40","modified_gmt":"2026-05-18T20:33:40","slug":"34797","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/34797\/","title":{"rendered":"Zambia state investment firm forms gold mining joint venture"},"content":{"rendered":"<div dir=\"ltr\" data-olk-copy-source=\"MessageBody\">Zambia&#8217;s state investment firm ZCCM-IH said on Monday it had formed a joint venture with \u200bMining Mineral Resources to explore for and mine \u200cgold, as the copper-producing African country seeks to diversify its mining sector.<\/div>\n<div dir=\"ltr\" data-olk-copy-source=\"MessageBody\"><\/div>\n<div id=\"x_ms-outlook-mobile-signature\">\n<div>Kyalo Goldfields Limited (KGL) was incorporated on May 6 to \u200bexplore, develop and mine gold resources in \u200bthe Kikonge Mining Area in Zambia&#8217;s North Western \u2060Province, ZCCM Investments Holdings said in a statement.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">It said \u200bKGL will support the formalisation of artisanal and small-scale \u200bmining activities in the area to ensure the safe and regulated production of gold. It will also develop processing capabilities \u200bto enhance value retention within Zambia.<\/div>\n<div dir=\"ltr\">ZCCM-IH will hold a \u200b51% stake in KGL, with Mining Mineral Resources, which mines and \u200cprocesses \u2060tin, tantalum and tungsten in the Democratic Republic of Congo, holding the remainder.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&#8220;Kikonge is a meaningful step in broadening ZCCM-IH&#8217;s diversified minerals portfolio and represents tangible \u200bprogress in delivering \u200bon our \u2060mandate to formalise and develop Zambia&#8217;s gold sector,&#8221; ZCCM-IH Chief Executive Officer Kakenenwa Muyangwa said.<\/div>\n<div dir=\"ltr\">KGL&#8217;s \u200boperations will initially be funded through shareholder \u200bcontributions, \u2060with additional structures considered as it advances, ZCCM-IH said, adding that it was preparing the detailed project scope and \u2060budget \u200bfor the proposed project.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&#8220;Upon completion \u200bof this process, the company will have clarity on the investment amount,&#8221; \u200bit said.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">&#8211;Reuters&#8211;<\/div>\n<div dir=\"ltr\"><\/div>\n<\/div>\n","protected":false},"featured_media":13586,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-34797","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"KGL's \u200boperations will initially be funded through shareholder \u200bcontributions.","published_date":"","news_description":"KGL's \u200boperations will initially be funded through shareholder \u200bcontributions.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":3,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34797\/revisions"}],"predecessor-version":[{"id":34800,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/34797\/revisions\/34800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/13586"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=34797"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=34797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}