Company Highlights
ASX LISTED ALBIDON LIMITED HAS REVIVED THE MUNALI NICKEL MINE AND IS RAMPING UP TO BECOME A SUSTAINABLE NICKEL PRODUCER:
The Munali nickel mine was officially reopened by his Excellency, Mr Rupiah Bwezani Banda, the President of the Republic of Zambia, on 26th March 2010.
The mine is one of only a handful of new nickel sulphide projects anywhere in the world in the next 10 years.
4,560 tpa of nickel production planned in high quality Ni-Cu-Co-Pt-Pd concentrate.
Partnership with Jinchuan Group, the most powerful force in the rapidly growing Chinese nickel market.
Expected growth of Munali Nickel Project through exploration and plant expansion.
In April 2010, the Company finalised a US$20m working capital arrangement with Jinchuan Group Ltd.
On 3 August 2010, a new Life of Mine study completed with a revised mining schedule for 1Mtpa.
On 31 August 2010 the Company appointed Messrs Sanlin Zhang, Jianke Gao and Harold Wang as Directors for the Company. Messrs Sanlin Zhang and Jianke Gao act as representatives of Jinchuan.
BEYOND THE MUNALI NICKEL PROJECT, ALBIDON HAS A PORTFOLIO OF PROJECTS POISED TO ADD ADDITIONAL VALUE, INCLUDING:
Drilling planned for late 2010 to test coincident Ni-Cu-Co-PGM and geophysical conductor targets in favourable geology at Songea, Tanzania, 100% owned by Albidon.
Ongoing exploration for Njame and Gwabe uranium deposits in Zambia (JV with African Energy Resources).
