Zambia’s state investment vehicle ZCCM-IH has moved to broaden the country’s mineral focus beyond copper by creating a joint venture to pursue gold development in the northwest of the country.
The partnership has given rise to Kyalo Goldfields Limited, a company incorporated on May 6 to explore, develop and mine gold resources in the Kikonge Mining Area in North Western Province. The entity was established through a collaboration between ZCCM-IH and Mining Mineral Resources, according to a statement released by ZCCM Investments Holdings.
Under the arrangement, ZCCM-IH holds a 51% ownership stake in Kyalo Goldfields Limited, with Mining Mineral Resources owning the remaining shares. Mining Mineral Resources is identified as an operator of tin, tantalum and tungsten mining and processing facilities in the Democratic Republic of Congo.
The new company is tasked with formalizing artisanal and small-scale mining activity in the Kikonge area. That work is described as aiming to ensure safe and regulated gold production in the region. Kyalo Goldfields Limited also plans to develop processing capacity locally, an intent framed as keeping a greater share of mineral value within Zambia.
ZCCM-IH chief executive Kakenenwa Muyangwa characterized the Kikonge project as a meaningful expansion of the company’s diversified minerals portfolio and said it represents tangible progress toward the firm’s mandate to formalize and develop Zambia’s gold sector.
The venture signals a deliberate effort by a copper-dominated mining nation to add gold into its development agenda by combining a state investor with a partner that has regional mineral processing experience. The structure gives ZCCM-IH majority control of the new operation while leveraging Mining Mineral Resources’ existing activities in neighbouring Congo.
Details on timetables, projected production volumes, financing or specific processing technologies were not provided in the statement. The announcement focuses on the company formation, ownership split, objectives around formalization and processing, and the location of operations within North Western Province.