LONDON (Thomson Financial) - Tecteon PLC said it has agreed to a joint
venture with Minerale Afrique Ltd-controlled company Zamcu, which will involve
the financing and off-take of copper, zinc and lead for sale in China.
Zamcu holds the licence to recover 18,000 tons per month of ores including
copper, zinc and lead in Zambia and their transportation to South Africa for
sale, Tecteon said.
Tecteon expects about 3,000-6,000 tons of copper to be financed and sold per
month and 3,000 tons of both zinc and lead, with profit's from the JV's trading
split 60:40 between Tecteon and Zamcu respectively.
To finance this new activity, Tecteon will take an unsecured loan of 300,000
stg from Quazer Group Corp.
TFN.newsdesk@thomson.com
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