A Zambian platinum firm is on the brink of significant expansion five years after its inception, according to Mineweb.

AIM-listed company Albidon, which focuses on platinum and nickel, has now raised A$18 million for the purposes of developing projects in eastern Africa.

The firm has opened up the nickel-platinum Bimbili River project in Malawi, the Tati-Tekwane project in Botswana and the Luwumbu platinum-nickel project as well as five additional areas in Tanzania.

A recent scoping study at the firm's Munali project in Zambia indicated the potential to 4.11 million tones grading 0.95 grams per tonne of pgms.

Mineweb reports that several years of exploration are now set to reap rewards, with the firm now capable of exploiting its finds.

Albidon currently has a market capitalisation of £20.2 million.