Release date: 24 January 2007
Promoter – Financial Intermediary
Albidon Zambia LimitedLocation
Description
Establishment of a new medium-scale underground nickel sulphide mine, construction and operation of a conventional ore processing plant and related infrastructure.
Objectives
Production of 8 500 t/y nickel in the form of concentrate for a period of 8.5 years in the initial phase.
Comments
Mining and Quarrying
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 32 million (USD 40 million equivalent)
Total cost (Approximate amount)
Approx. EUR 95 million
Environmental aspects
An independent EIA, prepared by independent consultants, has been established. It includes social aspects, public consultation, a preliminary rehabilitation plan and an environmental management plan. It has been approved by the local competent authority, the ECZ - Environmental Council of Zambia. The project incorporates best industry practice and complies with the Bank's environmental statement and EU standards.
See Albidon web-site at www.albidon.com.
Procurement
The main contracts, including contracts for construction of the processing plant and infrastructure, will be awarded following international negotiations. The procedures followed are in line with the Bank's Guide to Procurement.
Status
Signed - 27/04/2007
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).