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Pre-Budget analysis: Making economic recovery a reality 1 Economy Mining in Zambia 

Pre-Budget analysis: Making economic recovery a reality

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In his recently delivered speech at the official opening of Parliament, H.E. President Edgar Lungu stated that pursuing an economic recovery is the priority of his Government. There is therefore more anticipation than ever ahead of the 2021 National Budget, which Finance Minister Hon. Bwalya Ng’andu is expected to deliver on 25 September. Mining For Zambia spoke to Former President of the Economics Association of Zambia and founder of Betternow Finance Company, Noel Nkoma, about the policies he believes should be implemented to achieve this recovery, and what he hopes to see in the Budget… Read More Here
Low hanging fruit for a mining-led economic recovery in 2021 Budget 2 Covid-19 Mining in Zambia 

Low hanging fruit for a mining-led economic recovery in 2021 Budget

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In a speech delivered last week at the opening of the current sitting of Parliament, His Excellency Edgar Chagwa Lungu, set out very clearly that delivering an economic recovery “is the number one goal of my Government”. We can therefore expect to see the detail of the Government’s recovery plan – “the implementation of supportive policy measures” – set out in the forthcoming Budget speech, scheduled for Friday 25 September. In broad terms, the President’s declarations should bode well for the future of the Zambian mining industry, in his commitment “to do more… Read More Here
FQM To Pump $650M Into Kansanshi Mine 3 Mining in Zambia 

FQM To Pump $650M Into Kansanshi Mine

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First Quantum Minerals (FQM) pumps about US$650 million investment that will double copper output and extend the life of Kansanshi Mine to 24 years under the 2023/2024 business calendar. And the mining giant has cautioned shareholders that the expansion project can only go ahead if the company is confident of a competitive fiscal regime, which will in turn dictate capital availability. FQM Country Manager General Kingsley Chinkuli said the most important element of restarting projects that stalled and making Zambia’s mining sector attractive to investors is the need for a… Read More Here
Tesla “battery day” a possible blow to cobalt miners 4 Cobalt Battery Metals International 

Tesla “battery day” a possible blow to cobalt miners

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Elon Musk’s Tesla will hosts its annual shareholder meeting on Tuesday, Sept. 22, followed by the highly anticipated “battery technology day”, a worldwide live-streamed event during which the firm is expected to unveil its own new type of battery cell. Speculation points to a cobalt-free battery that uses more of less costly metals such as nickel and manganese. Tesla currently uses the nickel-cobalt-aluminum cathode chemistry, which has a low cobalt content of about 5%, for their cars produced outside China. The company also embraces the Responsible Minerals Initiative (RMI) to identify red flags such as child labour in their cobalt sourcing.… Read More Here
Aerial Photo of Manono Lithium Mining in DRC New Mining Projects Tin 

AVZ Minerals to increase stake in Manono project in the DRC

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Mineral exploration company AVZ Minerals has revealed that it will boost its equity stake in the Manono lithium/tin project, in the Democratic Republic of Congo (DRC), to 75% in a $15.5-million share sale purchase agreement. The ASX-listed company will buy an additional 10% equity stake in the project from its joint venture partner, Dathomir Mining. Under the agreement, AVZ has paid $500 000 to Dathomir Mining as an advance payment. The remaining $15-million will be paid at any time within 12 months of the agreement being executed, or as soon… Read More Here
DRC loses more than USD 10 million in revenue every year as a result of smuggling artisanal gold 5 Gold Mining in DRC 

DRC loses more than USD 10 million in revenue every year as a result of smuggling artisanal gold

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Gold smuggling causes the DRC to lose more than USD 10 million in tax revenue each year, this is according to a report by NGO IMPACT which has just been published in September 2020. According to an estimate by the Federal Institute of Geosciences and Natural Resources in Germany (BGR, Bundesanstalt für Geowissenschaften und Rohstoffe), the gold production of the DRC amounts to 15 tons per year, which represents 543 million USD. If exporters declared all of this production and paid the official export tax (2%), the DRC government would… Read More Here
Energy transition to have transformative effect 6 Energy 

Energy transition to have transformative effect

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Climate change and Environmental Social Governance (ESG) will transform the energy industry risk landscape, according to Willis Towers Watson at the launch of its annual Mining Risk Review. This transformation is taking place against the backdrop of the impact of both the COVID-19 pandemic and a rapidly hardening global insurance marketplace. ESG forms the key theme of the report, highlighting that the transition to a low carbon economy requires a fundamental reappraisal of mining company climate risk; the Review shows that achieving a satisfactory ESG rating will be critical in… Read More Here
Castillo Copper confirms copper target at Luanshya Project 7 Copper International Mining in Zambia 

Castillo Copper confirms copper target at Luanshya Project

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Castillo Copper Ltd, a base metal explorer primarily focused on copper across Australia and Zambia, has announced encouraging results from the recently completed infill soil geochemical sampling campaign at its 100% owned Luanshya Project in Zambia. The Luanshya Project is located in Zambia’s traditional copper-belt, the second-largest copper producer in Africa. It is intersected by a NW-SE trend-line, that is approximately 5 – 10 km wide in places and known to host copper mineralisation. This includes two of China Nonferrous Mining Corp.’s (CNMC) three operating copper mines that are approximately… Read More Here
FQM to exceeds production targets at copper mine as it beats headwinds 8 Copper Mining in Zambia 

FQM to exceeds production targets at copper mine as it beats headwinds

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First Quantum Minerals’ Sentinel copper mine in Kalumbila District of North-Western Province has exceeded production targets for July and August. This strong performance was attributed to consistent milling rates and better than expected grades in August. It puts the mine on track to meet investor projections for the full quarter. The performance was despite the pressures of a tax regime ranked as the least competitive in the world by consulting firm EY, and challenges resulting from the COVID-19 pandemic “We have seen numerous changes to the country’s mining tax regime… Read More Here
Dafo Vehicle Fire Protection expands its business in the African continent 9 Mining in Zambia Mining Companies 

Dafo Vehicle Fire Protection expands its business in the African continent

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Dafo Vehicle Fire Protection expands its business in the African continent by signing up a new partner in Zambia – ASM Global. ASM Global is a family owned business managed by Managing Director Mr. Piers Holl and located in Kitwe in the Copperbelt. Assets, Service and Management thereof comes with a major cost in any business. The Mining Industry is one of the harshest environments where large capital is employed. Mindful of this ASM Global has established its presence in this market sector to bring trusted Industry Standard quality products with reliable service… Read More Here

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