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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36573)	5/5/2009 2:10:22 PM
From: LoneClone	Read Replies (1) \| Respond to of 195121

Zambia To Select New Munali Nickel Mine Investor By End 2009 Last update: 6:04 a.m. EDT May 4, 2009 May 04, 2009 (Dow Jones Commodities News via Comtex) -- DOW JONES NEWSWIRES marketwatch.com{49202C55-C120-4A8B-8D33-6D02CB6AEEFE}&dist=msr_8 The Zambian government expects to select a new investor to reopen Munali Nickel Mine before the end of the year, a government official told Dow Jones Newswires Monday. An official with the ministry of mines and minerals development said the government had held talks with a number of companies interested and a new investor is likely to be selected before the end of the third quarter. "A number of companies have expressed interest in reopening the mine, talks are still going on" he said. Until its closure, Munali was Zambia's only nickel mine. Australia-based Albidon Ltd. (ALB.AU) owners of the mine halted output in March citing low global nickel prices. The Zambian government has since indicated that it would take over mines intending to close over low metal prices. The official added that China's Jinchuan Group Ltd. is among the front runners to take over the mine. Company executives held talks with the Zambian government last month aimed at reviving output. -By Nicholas Bariyo, contributing to Dow Jones Newswires; +256 75 262 4615; bariyonic@yahoo.co.uk (END) Dow Jones Newswires 05-04-09 0604ET