state to probe munali nickel mine collapse

State to probe Munali Nickel Mine collapse
- April 7 2013

"[Mines, Energy and Water Development Minister Yamfwa Mukanga] said Government was committed to finding an equity partner to reinstate the mine which is under care and maintenance...hence the need to reinstate the operations at Munali as soon as possible."

"Jinchuan, which has a 49.9 per cent stake in mine owner Albidon Limited last week offered us$0.0025 cash per Albidon share to non-Jinchuan shareholders. Albidon said it considers the “terms of the offer adequate value.”

Laughable how Albidon consider the offer good value - wonder if that has something to do with the 'offer' being from a subsidiary of Jinchuan, the same Jinchuan who happen to supply the entire Albidon board. Any shareholders smell a rat here?

And back on April 4 we had this (was posted on the new HC but vanished since they reverted to old format)

DJ Zambia Munali Nickel Mine to Restart Output by the End of the Year -Minister

""We are encouraged by Jinchuan's decision to increase its shareholding in the mine, we are working very closely to ensure that output can resume sooner than later," Minister of Mines, Energy and Water Development Yamfwa Mukanga told Dow Jones on Wednesday. Output should be restarted by the final quarter of the year, he added."

Of course minority shareholders are repeatedly told the Munali asset is non-viable - ASX news releases of November 8 2012 & March 28 2013. Yet the Minister was at the Munali mine on April 3.

So on whom do we apportion blame? The Chinese board of Albidon - from Jinchuan - with particular emphasis on Albidon Chairman/Jinchuan Vice-President Sanlin Zhang. The quarter-cent is pathetic when we see plenty indications that the intent is to resume production at our mine.

Are we going to accept this risible offer?

Are we going to generate as much publicity as we can? They say all publicity is good, but will Jinchuan view it in this light?

Are we going to file a class action?