Meikles partners Afghan mining firm

with the country’s indigenisation and empowerment laws that require locals to hold at least 51 percent in companies.

The Afghan partner, Centar Plc, was founded by former JPMorgan Chase and Company banker (advising mining companies) Ian Hannan and Polish businessman Jan Kulczyk.
Centar Plc is also supported by prominent and experienced investors mainly from Thailand, Indonesia, Poland, Kazakhstan and other countries across the globe. Meikles said it would put the proposal to invest in mining for shareholder approval at the next annual general meeting.

“Further to the expectation announced in our chairman’s review, shareholder agreements pertaining to our mining objective have now been concluded. A new company to be named Meikles Centar Mining Limited has been formed,” said Meikles in a statement yesterday.

This follows a special grant Meikles obtained to explore for minerals in the Midlands province, which allows the group to prospect for various minerals, including iron ore, gold and tantalite. Earlier, Meikles said it planned to have at least one mine in operation in 2014.

Meikles would not say how much investment is needed to start the mine but indicated “the division will raise its own capital and will not be dependent on the group’s financial resources”.

Meikles said Centar was leading development of mining in Afghanistan as it emerges from years of conflict using foreign and Afghan capital, foreign technical experts and staff.
The Zimbabwe entity said its Afghan technical partner employs more than 500 Afghan staff and at one time supported by 15 expatriates, the majority of them Zimbabwean nationals.

It includes an exploration company exploring in a gold prospect in the north of Afghanistan and is listed in a Government tender as a preferred entity to develop two copper exploration licences and has a joint venture with a Turkish firm to shortlisted to develop for four gold exploration licences.

Meikles said Centar has the requisite experience to develop projects at every stage of the mining life cycle and environments and was a proven leader in building local capacity skills as core to its operations.

Supported by its experienced finance and commercial team, Meikles said Centar would work with its team to develop identified opportunities in gold, tantalite, iron ore and other minerals to be explored.