Shuka Minerals to Acquire Kabwe Zinc Mine in Strategic Expansion

Edenville Energy ( (GB:SKA) ) has provided an announcement.

Shuka Minerals Plc has signed a conditional agreement to acquire 100% interest in the Kabwe Zinc Mine in Zambia by purchasing Leopard Exploration and Mining Ltd. The Kabwe Mine, historically significant and previously operated by Anglo American plc, holds substantial non-JORC compliant resources valued at over US$2 billion. The acquisition is expected to be completed within 90 days, contingent upon capital raising and final regulatory approvals. The company plans to revitalize the mine through a three-phase exploration and development program and engage in Environmental, Social, and Governance (ESG) initiatives.

More about Edenville Energy

Shuka Minerals Plc is an African-focused mine operator and developer. The company concentrates on acquiring, developing, and operating mining projects across Africa, with a specific focus on high-grade mineral deposits. Its market strategy involves acquiring significant mining assets and leveraging them to enhance its position in the mining industry.

YTD Price Performance: -30.0%

Average Trading Volume: 122,289

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: £4.22M

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