Project name: Nachingwali Enterprises Limited
Project description:
Nachingwali Enterprises Limited has so far invested K780 million in exploration, core drilling and excavation of a trial mining pit.
The mine has the potential to produce raw emeralds worth a minimum of US$ 1.5million per year, although this projected analysis is only for 20% of the concessioned area.
Location of project: Lufwanyama Emerald Restricted Area, Ndola rural plot No. 67, Mitondo South.
Cost of investment: The owners of the mine are looking for investors to inject a minimum value of US$5 million in equipment and working capital.
Availability of inputs:
There is plenty of locally available labour, while machinery and equipment can either be hired locally or imported.
Infrastructure: Electricity is available 15kms from the mine, and currently there exists a gravel road leading to the site.
Licenses: An Investment Licence will be required. Nachingwali Enterprises Limited however has a gemstone mining licence, an Environmental Impact Report, Exploration Report and a Core Drilling Report.
Fiscal Incentives:
1. Duty free importation of machinery and equipment, including specialised motor vehicles, for use in exploration or mining.
2. Mineral royalty of 5% of gross value for base metals and precious metals. VAT is 16%.
The Zambian Development Agency (ZDA) facilitates non-fiscal incentives such as:
1. Investment guarantees and
protection against state nationalisation
2. Free facilitation for application of immigration permits, secondary licences, land acquisitions and utilities.
For further details on this joint venture opportunity contact the ZDA
Key contact: Florence Mumba
Director: Investment Promotion and Privatisation
Zambia Development Agency
Email: fmumba@zda.org.zm
