By MAIMBOLWA MULIKELELA-
ALMS Minerals and Mining Company Zambia Limited will invest more than US$10 million to establish a titanium crushing plant in Petauke District, Eastern Province, chief executive officer Andrew Mazimba has said.
Mr Mazimba said the company would spend more money to set up a processing plant and to procure equipment under Phase One of the projects.
Currently, the mining company is expected to export 150,000 tonnes of titanium ore to Hong Kong.
In an interview in Lusaka, Mr Mazimba said the mining firm was expected to earn more than $240 million in foreign exchange when it exports about 150,000 tonnes of titanium ore to Hong Kong market.
Recently, the company signed transport agreement with Zambia Railways Limited (ZRL) which will facilitate the shipment of 150,000 tonnes of titanium ore.
The firm’s shipment would come from its mining operations in Petauke, which will be transported through the Nacala Rail route to Hong Kong.
Titanium is a critical strategic metal used in aerospace, automobiles, aircraft gas turbines and airframes among other uses.
Mr Mazimba said that currently, the company has engaged the Ministry of Mines, Energy and Water Development on the issues of encroachment on their mining licences.
“We have written to the Ministry of Mines, Energy and Water Development to deal with the issues of encroachment of the mining area because we don’t want to put up a processing plant and bring equipment at the site when the issues are not yet resolved,” he said.
Mr Mazimba said it was important for the Government to immediately resolve the matter on its mining licence for the company to start exports of titanium.
He said they have applied for the environmental impact assessment to be carried out by the Zambia Environmental Management Agency.
“Once we conclude with the environmental impact assessment, we shall proceed to start our mining activities and set up the crushing plant in the area,” he said.