Start of GOOD News: news release
Colossal Resources Corp CLPZF
Shares issued 6,055,278
Fri 9 May 97
Mr Dil Gujral reports,
Colossal Resources Corp (CLPZF) is pleased to announce the formal opening
of our Kabwe Cobalt Processing Plant on May 16 1997.
Colossal has been advised that the inaugural opening will be attended by
both His Excellency, The President of the Republic of Zambia, Mr. F.J.T.
Chiluba, and the Honorable General Christon Tembo, Minister of Mines.
The company has a 60 per cent controlling interest in Qasim Mining
Enterprises Limited (QMEL), a Zambian company which has established the
KMPP Plant in Zambia to process cobalt-containing slag from ZCCM's Nkana
Slag Dump (NSD) at Kitwe, Zambia and other residues. In January 1997 the
company completed the acquisition of Barplats Refineries Pty Limited, a
South African company which owns a modern hydrometallurgical processing
plant and related facilities, suitable for treating cobalt-containing
materials at Brakpan, near Johannesburg in South Africa: the business is
operating under the name of SACOLCo Pty Ltd., a wholly owned subsidiary of
Colossal.
Employing smelting technology developed in South Africa, Colossal Resources
Corp, through its 60% Zambian subsidiary, recovers a cobalt/iron/copper
mixed alloy in granular form from slag found in the ZCCM Nkana Slag Dump
located near Kitwe in Zambia. Cobalt is a strategic metal used in high
technology applications like jet engines, for super alloys, computers,
advanced batteries, magnets, carbide cutting tools, dryers and chemicals.
On behalf of management, our employees, our technical team and our strong
affiliation with the Government of the Republic of Zambia, Colossal views
this event as significant in the development of its core business.
FOR MORE INFORMATION
Telephone: (604) 688-0044
(604) 689-9778
Toll-free: 1-800-298-0244
Facsimile: (604) 684-2439 |
