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Proposed Mining Law Threatens Zambia's Copper Production Goals 1 Mining in Zambia Copper Economy 

Proposed Mining Law Threatens Zambia’s Copper Production Goals

Constance
Zambia’s proposed Minerals Regulation Law could deter investment and deliver a “fatal blow” to the country’s goal of increasing annual copper output to 3 million metric tons, according to two mining organizations. As Africa’s second-largest copper producer, Zambia is considering a Minerals Regulation Commission Bill that would allow the government to acquire a stake in exploration areas before granting licenses to investors for mineral exploration, including copper. The proposed legislation, which was reviewed by Reuters, seeks to empower the finance minister to maintain a shareholding in a mining license on… Read More Here
ZCCM-IH pays K41.6m dividend to Zambian Govt 2 Mining in Zambia 

ZCCM-IH pays K41.6m dividend to Zambian Govt

Constance
ZCCM-Investment Holdings has handed over a dividend cheque of 41.6 million kwacha to the Ministry of Finance and National Planning. The Ministry holds a 17.4 percent stake on behalf of the Zambian government. ZCCM-IH Chief Executive Officer, NDOBA VIBETTI handed over the cheque to Finance and National Planning Minister SITUMBEKO MUSOKOTWANE in Lusaka yesterday. Dr. VIBETTI said in addition, ZCCM-IH has also delivered two dividend cheques to its two other stakeholders, the Industrial Development Corporation -IDC- and the National Pension Scheme Authority -NAPSA- amounting to 182 million kwacha. This brings… Read More Here
Kariba Dam Repairs Near Completion, Promising Relief for Energy Shortages in Zambia and Zimbabwe 3 Mining in Zambia Electricity Energy 

Kariba Dam Repairs Near Completion, Promising Relief for Energy Shortages in Zambia and Zimbabwe

Constance
Engineers at the Kariba Dam have successfully completed repairs to the structure’s plunge pool and have begun refilling it with water. Minister of Energy Makozo Chikote announced that repairs to the dam are now 75% complete, a significant development for Zambia’s energy sector. During a visit to the dam on Wednesday, the minister stated that the plunge pool repairs represent a crucial step in addressing the energy shortages affecting both Zambia and Zimbabwe in recent months. The dam, jointly operated by the governments of Zambia and Zimbabwe, generates 2,010 MW… Read More Here

Tenke Fungurume Mining Reports Strong Production and Community Impact in H1 2024

Constance
Tenke Fungurume Mining (TFM) has announced its mining production results for the first half of 2024 in the Democratic Republic of Congo (DRC). According to a press release issued on Tuesday, TFM produced approximately 102,405 tonnes of copper cathodes and 7,061 tonnes of cobalt metal in the form of cobalt hydroxide. As of the first quarter of 2024, the company reported paying approximately USD 171.69 million in taxes and related payments to the DRC. Since the project commenced in 2006, TFM has contributed around USD 6.063 billion in total payments,… Read More Here
Tenke Fungurume Mining Celebrates Copper Mark Certification 4 Mining in DRC Copper Environment Social Governance (ESG) 

Tenke Fungurume Mining Celebrates Copper Mark Certification

Constance
The Copper Mark is a prestigious certification awarded to mining companies that undergo a rigorous audit of their environmental, social, and governance (ESG) practices. To date, only 52 mining operations worldwide have received this mark of distinction, with Tenke Fungurume Mining (TFM) being the first mine in Africa to achieve this certification. The celebration of this significant accomplishment took place on July 31, commemorating the international recognition obtained on June 12. The event was hosted at TFM’s facilities, with CEO Wang Hanyuan, PCA Wang Quan, and CEO John Woto attending… Read More Here
Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining 5 Diamond Mining in DRC New Mining Projects 

Bakwanga Mining Company Receives New Machinery to Relaunch Diamond Mining

Constance
The Bakwanga Mining Company in the Kasai-Oriental province has received new machinery to restart its diamond mining operations. The handover took place on Tuesday, August 6, 2024, in Mbuji-Mayi, attended by Governor Jean-Paul Mbwebwe Kapo and the Chairman of the Board of Directors, Jean Charles Okoto, along with executives and staff of the state-owned company. The newly acquired equipment includes a Volvo excavator, an SEM loader, two dump trucks, a 6,000-liter fuel oil truck, two Tata buses with a capacity of over 61 seats for employee transportation, and five pickups.… Read More Here
Zambia Imports Power from South Africa to Alleviate Energy Deficit 6 Mining in Zambia Electricity 

Zambia Imports Power from South Africa to Alleviate Energy Deficit

Constance
Zambia has begun importing 218 megawatts of electricity from South Africa’s Electricity Supply Commission (ESKOM) during off-peak hours to address the country’s power shortage. Matongo Maumbi, a spokesperson for Zambia’s state-owned power utility Zesco, announced on state television that the imports started on August 1 to help mitigate the power deficit. Zambia, Africa’s second-largest copper producer, is also importing electricity from Mozambique to meet its energy demands. “The imports have allowed Zesco to stabilize the power supply, enabling us to provide electricity to critical installations such as hospitals, mines, and… Read More Here
Glencore Fined $152 Million by Swiss Authorities for 2011 Bribery Scandal 7 Mining in DRC 

Glencore Fined $152 Million by Swiss Authorities for 2011 Bribery Scandal

Constance
Glencore Plc (LON: GLEN) has been fined $152 million by Swiss authorities for failing to prevent a business partner from bribing a Congolese public official in 2011. In a statement released on Monday, the Swiss attorney general’s office (OAG) stated that prosecutors found Glencore did not take adequate measures to prevent the bribery. The incident involved the business partner’s acquisition of minority stakes in two mining companies in the Democratic Republic of the Congo (DRC) from a state-owned enterprise. Glencore has decided not to appeal the penalty order, despite not… Read More Here
DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange 8 Mining in DRC Diamond 

DRC Minister of Mines Reports on Framework Agreement Negotiation with Africa Diamonds Exchange

Constance
During the Council of Ministers on Friday, July 19, Minister of Mines Kizito Kapinga Mulume provided an update on the negotiation of the Framework Collaboration Agreement between the Mining Fund for Future Generations (FOMIN) and the Africa Diamonds Exchange (ADEX), a Swiss-incorporated company. A delegation from the Ministry of Mines, including representatives from FOMIN, CEEC, and CTCPM, visited Zurich from May 26 to June 2, 2024. They reached an agreement on establishing ADEX RDC SA, a new collaboration framework between FOMIN and ADEX to negotiate the Framework Collaboration Agreement in… Read More Here
BHP’s Spence copper mine in Chile now fully autonomous 9 Copper International 

BHP’s Spence copper mine in Chile now fully autonomous

Constance
BHP’s (ASX, NYSE: BHP) Spence copper mine in Chile has celebrated three months of being the company’s first fully autonomous operation, a status reached in April after a two-year journey that included converting its trucks fleet and drilling rigs. Spence, which produced 249,000 tonnes of copper last year, is BHP’s second largest copper mine behind Escondida, the world’s biggest copper operation. In the three months to July 29, the copper operation has moved 80 million tonnes of material without any safety incidents, surpassing the production plan to date, BHP said.… Read More Here

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