Zambia Forms Gold Venture to Formalize Mining, Build Processing

Zambia’s state-controlled mining investment firm has formed a joint venture to formalize the artisanal gold trade in a region of the southern African country.

ZCCM Investments Holdings Plc said on Monday it will hold 51% of Kyalo Goldfields Ltd.’s shares, while Mining Mineral Resources Sprl will own the rest. The new vehicle, which was incorporated on May 6, will operate in a part of North-Western Province that was the site of a disorderly gold rush that began last year.