| CAPE TOWN
CAPE TOWN Feb 9 Canada-based Copperzone
Resources could list on the Toronto or London stock exchanges
within the next two years to raise money to fund its exploration
ventures in Zambia's copper belt.
"We are a private company so it's a continual assessment but
this year or next year looks more likely than before," the
company's chief geologist and director Paul Lemmon told Reuters
on the sidelines of an annual mining summit in Cape Town.
Copperzone is exploring on 22 sites in Zambia but Lemmon
said a promising project in the northern province of Loupolo was
at an advanced stage and could receive the bulk of the proceeds
from any listing.
The company has signed agreements with BHP Billiton
, Rio Tinto and Vale
to develop at some of its licenses.
Copper prices on the London Metals Exchange rose for
the first time in three years in 2016 and many analysts expect
them to remain stable this year.
Lemmon said there were still benefits to staying private as
the organisation was small and nimble, adding that many of the
company's now-listed peers had seen shareholder value eroded.
"We have to time it correctly - we are in no rush," he said.
U.S.-based mining investor Sprott Group is the largest
shareholder in Copperzone.
For a take-a-look on the mining summit in Cape Town, click
(Reporting by Zandi Shabalala; Editing by Dale Hudson)