ZCCM Investments Holdings Plc (ZCCM-IH) has announced that its investee company, Maamba Collieries Limited (MCL), in which it holds a 35% shareholding, has been granted two Large Scale Exploration Licenses for lithium and other minerals (amethyst, aquamarine, tantalum, and tin) in the Southern Province of Zambia.
MCL plans to commence exploration promptly to determine the presence of these minerals within the licensed areas.
The licenses are valid for four years, during which MCL will conduct detailed exploration to identify mineable resources and, if applicable, quantify the resources and reserves.
The license areas are located approximately 100 km southwest of MCL’s coal mine in Maamba. Lithium, a critical battery metal, is a key focus in ZCCM-IH’s 2020-2026 strategic plan.
The issuance of these licenses to MCL aligns with ZCCM-IH’s strategy to diversify its mineral commodity base.
