Albidon signs agreement with Zambian government

26 June 2006 12:16

Albidon shares moved ahead after the group confirmed that it had signed a development agreement with the Zambian Government for the Munali Nickel Project.

The agreement defines the fiscal and regulatory framework for development of the project, which locks in key incentives over a five year stability period.

"Signing of the Agreement achieves an important milestone in the Bankable Feasibility Study and satisfies a key condition required for debt financing of the project," said the group.

The agreement applies to the enterprise deposit and any other nickel projects developed within the 800 square kilometre Munali Mining Licence, added the group.

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