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Thursday, November 17, 2005

Albidon and Energy Ventures Partner Up

Albidon Limited (AL), an Australia Stock Exchange (ASX)-listed company has acquired the Munali Nickel Project in Southern Province of Zambia. Albidon’s partner is Energy Ventures Limited (EVL) involved in the exploration and development of uranium and coal deposits. AL is also listed on the London Stock Exchange Alternative Investment Market (AIM).

Under this partnership agreement, major exploration for uranium and coal would commence immediately with $500,000 to be spent by EVE within two years. AL will concentrate on the Munali Nickel Project a robust deposit located in Mazabuka, about 60 kilometres south of Lusaka. EVL will provide finance and specialist energy exploration.

The agreement would enable Albidon to concentrate on developing its nickel projects in Mazabuka while EVE will provide funding and expertise for specialist exploration of energy (uranium and coal).

Albidon has nickel projects in Botswana, Tanzania and Malawi. Energy Ventures is specialised in the exploration of uranium, coal and coal-bed methane projects in Mozambique, Zambia, Botswana, Zimbabwe and Malawi.

The energy prospects in Zambia were identified during the uranium exploration of the Kariba Valley in the 1970s and 1980s. The Kariba Valley is part of the great East African Rift Valley, at its southern tail end. And the serene Lake Kariba fills this valley. But Siavonga on its lakeshore is Zambia’s newest safari town.


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