By 
ZCCM-IH Plc has incorporated a new Special Purpose Vehicle to drive its gold exploration and mining project in Mufumbwe District, North Western Province.
The company announced the formation of Kyalo Goldfields Limited as part of its ongoing investment in Zambia’s mining sector.
The announcement was released on Monday through the Lusaka Securities Exchange and the Securities and Exchange Commission of Zambia.
Company Secretary, Charles Mjumphi, said the SPV was incorporated on May 6, 2026 and followed a Memorandum of Understanding signed with the Ministry of Mines and Mineral Development and Mining Mineral Resources SAS.
He said the move formed part of the transaction first disclosed on December 19, 2025, concerning the Kikonge area project in North Western Province.
Mjumphi explained that Kyalo Goldfields Limited would serve as the vehicle for advancing exploration and mining activities in Mufumbwe District.
“The establishment of the SPV aligns with its strategy to expand its participation in Zambia’s mineral development,” he said.
Mjumphi noted that the project was expected to contribute to local economic activity and job creation in the province.
He added that further details on the structure and implementation of the project would be communicated to shareholders and the market in due course.
Mjumphi urged stakeholders to take note of the development as part of ZCCM-IH’s long-term growth program.
“It will continue to update the market as the project progresses through regulatory and operational phases,” he said.
ZCCM-IH reaffirmed its commitment to conducting its operations in line with Zambian laws and international best practice.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR
Comments