J&W Holding completes Zambian copper-cobalt mine deal

Johannesburg - Swiss-based J&W Holding has sealed its purchase of the Zambian Buluba and Luanshya copper-cobalt mines.

The mines were previously operated by Roan Antelope Mining Corp (Ramcoz), which was controlled by the Binani Group of India.

Unable to pay its debts, Ramcoz went into receivership in 2000. Both mines have remained shut, and flooded, since then.

J&W beat off a rival bid for the mines from Anglovaal Mining (Avmin). The South African miner had sought to acquire the assets in order to secure some of the raw material requirement at its Chambishi Metals cobalt operation. In April, J&W agreed to...

Published

December 24, 2003

09:35 GMT