Berkeley Mineral Resources remains in talks over the remaining two stockpiles of copper tailings in the Chingola area in Zambia.

Back in December, the company signed an option agreement to carry out due diligence on three areas containing stockpiles of copper tailings in Chingola.

The company subsequently entered into a joint venture over one of the clusters at Chingola. It has not yet been able to complete due diligence over the other 2 clusters at Chingola in one case due to overlapping mining licence factors.

Berkeley has now extended is exclusive right to carry out due diligence over one of the clusters until August 8th 2012. In addition, the company has begun negotiations over option agreements covering further copper clusters in the Ndola area also located in northern Zambia.

Mr Masoud Alikhani chairman of Berkeley said that “While BMR is intent on securing substantial stockpile copper tailings in the Zambian Copperbelt we will only acquire high quality delineated resources that are accompanied by good title. The team is working hard to allow us to take advantage of the opportunities currently available.”

Source - Proactive Investors

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