Big boys from BHP, China Mintails to Glencore is expanding fast...

Big boys from BHP, China Mintails to Glencore is expanding fast for copper exploration in Zambia.

Zambia has become Africa?s largest copper producer since privatizing state-owned Zambia Consolidated Copper Mines Ltd. 10 years ago. Copper helped fuel a 7.1 percent expansion in the nation?s economy in 2010 after rising Asian demand for the metal drove up prices. Copper rose 111 percent from 2009 through 2010 in London, and now trades above $9,000 a metric ton.

?There?s going to be some pretty large discoveries made in the next few years here and we want to be part of it,? said Marcus Tomkinson, a copper commodity team leader for a member of the Minmetals group. Hong Kong-based Minmetals Resources, a unit of China?s biggest metals trader, has opened an exploration office in Lusaka, Tomkinson said at the conference.

The country?s plans to double copper output by 2020 have attracted mining companies from Canada to Europe. Vancouver- based First Quantum intends to invest $1 billion in a new mine called Trident on the
nation?s northern copper belt, while Swiss commodities company Glencore International Plc has earmarked $512 million to expand its Mopani mine.

http://www.bloomberg.com/news/2011-06-15/bhp-minmetals-first-quantum-plan-to-increase-zambian-copper-exploration.html

The only downside is CR is inevitable in near term. Cash ending Mar quarter around 5 mil. Admin cost 700k on top of the recent exploration expenses @3.5 mil to define JORC for September.

Mining license granted and the only news that will supplement the the SP is takeover from on of these big boys or they further hit more high grade copper along the strike. Happy to re enter after CR.

Cheers all and GL.