By: African mining market

Bezant Resources has agreed to acquire a 90% interest in Namib Lead and Zinc Mining (Proprietary) Ltd. from CL US Minerals LLC for US$2.50 million plus royalties.

The Namib company owns a processing plant that will be adapted to treat pre-concentrated copper-gold ore from the Hope and Gorob project in Namibia.

“The agreement to acquire the NLZM plant is a pivotal move in developing our Hope and Gorob resource,” said executive chairman Colin Bird.

He added that key operational contracts are being advanced and production is intended to start as soon as practicable.

The company said the acquisition removes the longest lead item from its mine plan and could accelerate production by at least two years while avoiding the capital cost of building a new plant. The deal also provides a facility that can process lead-zinc-silver ore from the Namib mine in future.