Mwana Africa edges nearer to Bindura restart

Dec 13, 2011 | 09:35 AM |

The restart of the Bindura Nickel Corp (BNC) project in Zimbabwe is dependent on appropriate funding being secured, 52.9% owner Mwana Africa said in its first-half report released on Monday.

Mwana is in negotiations with financiers for the funding, the company said in the report, which covers the six months to September 30, but did not give a time frame for when the money will be secured.

The issue that continues to block the way is indigenisation, according to Mwana, adding that there is a “lack of clarity” surrounding relevant regulations in the country.

“Mwana continues to engage with the Zimbabwe government to meet indigenisation requirements for its operations at Freda Rebecca [gold mine] and BNC, and is confident that a satisfactory solution will be found,” the company said. ....

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