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Zambia says Saudi’s Manara interested in its copper assets

ByVictoria

Saudi Arabia’s Manara Minerals is looking for critical minerals projects in Zambia to invest in, the southern African country’s mines minister Paul Kabuswe told Reuters on Thursday.

“They (Manara) are interested, but we do not know which ones yet,” he said on the sidelines of a mining conference in Riyadh, adding that an announcement on a potential mining deal between Zambia and Saudi Arabia is likely this year.

“We no longer want those agreements where we have 10% or 15%,” he said, adding that the government is also holding talks with Barrick Gold, Ivanhoe Mines and Chinese investors on their plans for new projects.

Source – Reuters

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    Ultimately, this is a market where if we can break above the $35 level cleanly, then I think we will go back to the highs and then eventually go much higher than that.

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