Comment regarding Zambia media reports on exploration licence re
Kalengwa Copper Project, Zambia
Bezant (AIM: BZT), the copper-gold exploration and development company, is aware of recent Zambian media reports questioning the legal ownership of the Large Scale Exploration Licence relating to the Kalengwa Copper Project in Zambia which the Company holds a 30% interest in and acts as operator.
Bezant confirms that it and its directors have not been served with any legal proceedings or restraint orders in relation to the Kalengwa Copper Project in Zambia.
In Zambia mining licences are issued by the Zambian Ministry of Mines and Mineral Development. The Zambian Mining Cadastre confirms the issue of Large Scale Exploration Licence 24401-HQ-LEL to Kalengwa Processing Zone Limited (“KPZ”) on 2 April 2019 with an expiry date of 1 April 2023 which covers the commodities cobalt, copper, diamond, gold, iron or, lead, malachite and silver and comprises an area of 974.83 km2. As reported in the company’s announcement on 27th April 2020 KPZ is a 100% (less one share) Zambian subsidiary of KPZ International Limited (KPZ Int) which the Company has a 30% shareholding in.
