Zambia Consolidated announces parties bidding for Kansanshi mine

State-owned Zambia Consolidated Copper Mines (ZCCM) has announced that six bids have been submitted for a majority interest in the Kansanshi copper mine.

The sale of the mine is part of the government’s plan to privatize up to 70% of the country’s state-owned businesses by the end of 1997.

Companies that have submitted bids include:

* Australian-based Anvil Mining and Majestic Resources. The former is an exploration company, whereas the later has experience with heap-leach technology and solvent-extraction electrowinning;

* Cyprus Amax Minerals, a U.S. company with foreign projects in Chile, Peru and Australia;

* First Quantum Minerals, a Vancouver-listed company developing the Bwana Mkubwa copper deposit in Zambia;

* A joint venture among South African base metal miners Metorex and Randex and Toronto-listed Afri-Ore, an exploration and development company; * Reunion Mining, a British company that operates copper mines in Zimbabwe and Zambia; and

* Woolrich International Holdings, a company formed to participate in the privatization of ZCCM.

The offers are a mix of cash payments and commitments to exploration, feasibility and development work.