By JUDITH NAMUTOWE –
INTREPID Mines Zambia Limited, an Australian-based minerals exploration and development with interest in Mumbwa says it is focused on identifying value enhancements to offset changes in the new mining tax regime.
The Australian Securities Exchange (ASX)-listed firm says it is intently focused on identifying value enhancements to offset changes such as increased royalties, and to better withstand copper price volatility.
Intrepid’s principal exploration project is in Zambia, where the company is exploring and developing a number of highly promising mineralised zones.
According to a statement issued in Lusaka, the current copper price presents challenges for company’s new projects, including the Mumbwa’s Kitumba Mine.
“While we remain optimistic about the medium-term copper price outlook, we are also intently focused on identifying value enhancements to offset changes such as increased royalties, and to better withstand commodity price volatility,” the statement reads.
The recently reported changes to the Zambian fiscal regime, would further impact the project economics.
“In November 2014, a mining licence was granted for the Kitumba deposit. We plan to progress Kitumba towards final feasibility in a staged manner, and are excited about testing a number of attractive exploration targets located nearby the Kitumba deposit, including some on the same tenement,”  states the statement.
The statement noted that the Government had been supportive of the Mumbwa Project and looking forward, the company remained committed to regular communication and partnering with government officials and representatives as they work towards project financing and development.
It also says that exploration drilling on the targets within the Mumbwa Project has commenced for the 2015 season.