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ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy 1 Mining in Zambia Economy Energy 

ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy

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ZCCM Investments Holdings PLC (ZCCM-IH) has announced a $10 million (approximately ZMW 275 million) investment in the second tranche of CEC Renewables Limited’s (CEC-R) Green Bond issuance. This strategic move underscores ZCCM-IH’s commitment to advancing sustainable energy and supporting Zambia’s capital market growth. The second tranche of the bond raised $96.7 million, earmarked for expanding the 60 MW Itimpi-1 solar photovoltaic (PV) plant into the 136 MW Itimpi-2 project. This initiative seeks to address Zambia’s persistent energy crisis by bolstering the country’s renewable energy infrastructure. Dr. Ndoba Vibetti, CEO of… Read More Here
KGL Unveils 10-Year Strategic Plan to Address Zambia’s Power Crisis 2 Mining in Zambia Electricity 

KGL Unveils 10-Year Strategic Plan to Address Zambia’s Power Crisis

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Amid Zambia’s ongoing power shortages, exceeding 1,300 MW and causing widespread blackouts, the Kafue Gorge Lower Power Development Corporation Limited (KGL), a subsidiary of Zesco Limited, has launched a transformative 10-year strategic plan. Announced on December 11, 2024, the plan aims to reshape the nation’s energy landscape by addressing the power crisis, promoting sustainable energy, and supporting Zambia’s economic development goals. KGL’s evolution from a project-focused entity to a fully operational power generation corporation is a critical milestone. Operating a 750 MW hydroelectric power plant, the largest installed capacity among… Read More Here
Rio Tinto Appoints Georgie Bezette as New Chief People Officer 3 International Corporate News Mining Personality 

Rio Tinto Appoints Georgie Bezette as New Chief People Officer

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Australia-based mining giant Rio Tinto has named Georgie Bezette as its new Chief People Officer, succeeding James Martin, who is set to retire at the end of 2024. Bezette, who has been with Rio Tinto since 2008, currently serves as Chief Operating Officer for the People division, where she has been instrumental in driving the company’s cultural transformation efforts. She will assume her new role on January 1, 2025, and will be based in London. Rio Tinto CEO Jakob Stausholm praised Bezette’s appointment, highlighting her dedication to talent development, cultural… Read More Here
Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access 4 Mining in Zambia Copper Corporate News 

Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access

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Mercuria Energy Group has entered into a metals trading partnership with Zambia, marking another instance of a major commodity trader collaborating with a resource-rich nation to secure critical materials. The Geneva-based company announced its alliance with Zambia’s Industrial Development Corporation (IDC) on Thursday. This move aligns with Mercuria’s strategy to expand its metals trading operations, spearheaded by Kostas Bintas, a former Trafigura Group executive. The initiative reflects the growing interest among trading houses to secure access to minerals essential for the global energy transition. For Mercuria, increasing exposure to copper… Read More Here
Peru’s Copper Output Stagnates for a Third Consecutive Year 5 Copper International 

Peru’s Copper Output Stagnates for a Third Consecutive Year

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Peruvian copper production is projected to remain flat in 2025, marking the third consecutive year of stagnant output, according to industry analysts and the country’s leading mining association, SNMPE. Challenges such as declining ore grades and a lack of new mining projects continue to cap production, even as global demand for copper surges. Peru, the world’s third-largest copper producer, was overtaken by the Democratic Republic of Congo (DRC) in 2023 for the second spot behind Chile. The decline in ore quality after years of extraction is straining miners’ ability to… Read More Here
World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience 6 Mining in Zambia Economy 

World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience

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The World Bank has approved a $100 million financing package to enhance Zambia’s capacity to manage natural disasters and strengthen its economic and climate resilience. The initiative integrates a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO). The financing package includes $25 million to address Zambia’s current economic challenges and promote climate adaptation, alongside $75 million set aside as contingent funding for rapid response to national disasters. This dual approach is designed to help Zambia manage the immediate impact of a severe drought… Read More Here
FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain 7 Mining in Zambia 

FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain

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First Quantum Minerals’ (FQM) Trident has launched a five-day “Expand Your Business” (EYB) training programme to enhance the capacity of 50 local suppliers to participate actively in the mining value chain. The programme, delivered by trainers accredited by the International Labour Organization (ILO), highlights FQM’s dedication to fostering sustainable economic growth by empowering local entrepreneurs. The training aligns with the Zambian government’s efforts to increase local content in the mining sector. Held in Solwezi, the initiative aims to equip participants with the skills and expertise needed to compete in global… Read More Here
Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute 8 International Gold 

Barrick Gold Seeks Arbitration with Mali Over Loulo-Gounkoto Dispute

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Barrick Gold, the leading gold producer in Mali, has submitted a request for arbitration to the International Centre for Settlement of Investment Disputes (ICSID), a World Bank institution. The Canadian company is seeking to resolve ongoing disagreements with the Malian government concerning the Loulo-Gounkoto mining complex, the country’s largest gold mine. In a press release on December 18, 2024, Barrick confirmed its decision to use ICSID’s services to address the dispute. However, the company has not disclosed the specifics of its claims or the nature of the request. It remains… Read More Here
UAE Investors Eye Zambia’s Natural Resources and Trade Potential 9 Mining in Zambia Economy 

UAE Investors Eye Zambia’s Natural Resources and Trade Potential

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Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has expressed the UAE’s interest in collaborating with the Zambian government to invest in Zambia for the benefit of its people. Staford highlighted Zambia’s abundant natural resources, which he believes should directly benefit the Zambian population. He also emphasized Zambia’s strategic position as a central trade hub in Africa, connecting eight countries and boasting a growing network. He noted that the UAE imports over $40 billion in precious metals annually, with 60% coming from Africa,… Read More Here
China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine 10 Mining in Zambia Copper Economy 

China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine

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China Non-Ferrous Metal Company has emphasized its commitment to creating opportunities for the local community through its operations. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, announced significant progress in the mine’s dewatering process, supported by a $100 million investment. This development was highlighted during a visit to the mine in Luanshya by Water Development and Sanitation Minister, Collins Nzovu. Minister Nzovu noted that the dewatering process will not only help regulate the water levels of the Kafue River but will also benefit small-scale farmers by providing irrigation… Read More Here

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