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Zambia’s Mines Minister Provides Update on Mopani Copper Mine

July 18, 2023July 18, 2023 Constance

In a recent press conference, Zambia’s Mines Minister Paul Kabuswe addressed the media, providing information about the country’s mining sector, particularly the Mopani Copper Mine (Mopani). The minister highlighted Mopani’s ownership structure and the challenges faced since Glencore’s departure, emphasizing the government’s efforts to find a new investor. Furthermore, the minister expressed the government’s intention to close the deal with a new investor by the end of July 2023. This article aims to provide an overview of the minister’s key points and the prospects for Mopani’s future. The Mines Minister… Read More Here

Mining in Zambia Copper Economy Exploration

Zambia’s Copper Sector Poised for Growth with Increased Exploration Investment

July 18, 2023July 18, 2023 Constance

Zambia, a landlocked nation in Southern Africa, is renowned for its significant copper production. Ranking 7th globally and 2nd in Africa after the Democratic Republic of Congo, Zambia’s mining sector has immense potential for growth. Recent changes in the mining industry, particularly increased investment in exploration, are expected to propel Zambia’s copper industry to higher global rankings. In this article, we explore the exciting prospects that lie ahead for Zambia and the role of exploration in unlocking its copper resources. Zambia’s abundant copper reserves have established it as a prominent… Read More Here

Mining in Zambia Economy

Zambia’s Economy to Grow Slower Than Expected in 2023

July 18, 2023July 18, 2023 Constance

According to a budget plan presented by Zambia’s Ministry of Finance on Sunday July 17th, the Zambian economy is projected to grow by just 2.7% in 2023, down from 4.7% in 2022, as contractions in the mining and energy sectors restrain development. After becoming the first country in Africa to default on its sovereign debt in 2020, Zambia and the International Monetary Fund (IMF) have now finalized a long-delayed debt restructuring plan. According to research from the IMF, this will save the southern African nation $7.65 billion by 2026. According… Read More Here

Mining in Zambia Rare Earth Minerals

Zambia’s Minister of Mines Sheds Light on Sugilite Discovery in Luapula Province

July 18, 2023July 18, 2023 Constance

Zambia’s Minister of Mines, Hon Paul Kubuswe, addressed the media on Friday, July 14th, to provide insights into the recent discovery of the precious gemstone, Sugilite, in Luapula Province. The Minister highlighted the significance of this finding and the government’s commitment to responsible and sustainable management of this valuable mineral resource. Sugilite has been found in two locations in Mansa, and the Ministry of Mines is developing a comprehensive strategy to explore and exploit this gemstone, aiming to maximize benefits for Zambian citizens. He said, “Under the leadership of President… Read More Here

Mining in Zambia Cobalt Copper Mining tax

Anglo American joins efforts to create sustainable mining taxation solutions

July 17, 2023July 17, 2023 Constance

Anglo American joined representatives of government, civil society and other stakeholders in the mining sector at a global conference in Lusaka to discuss the future of resource taxation, as part of the launch of a new guide on the subject by the Inter-governmental Forum (IGF) on Mining. Those attending were seeking to find effective solutions to promote transparency and sustainable development in the mining sector. The conference was officially opened by the Minister of Finance and National Planning Dr Situmbeko Musokotwane, who expressed confidence in the three-day event’s potential to facilitate constructive… Read More Here

Angola Mining in DRC Mining in Zambia Transport and Logistics

Angola, Zambia, and DRC to Export Minerals via Lobito Rail Corridor

July 17, 2023July 17, 2023 Constance

Minerals from the DRC and Zambia will now be exported via Angola’s Lobito rail corridor. Presidents Félix Tshisekedi (DRC), Hakainde Hichilema (Zambia) and João Lourenço (Angola) chaired the signing ceremony of an agreement for this purpose on Tuesday July 4th. “The full operationalization of this corridor will allow the opening up of the mines of Zambia and the DRC, as well as the access and the circulation of inputs essential to both the mining and agricultural industries”, indicated President Félix Antoine. Tshisekedi. The three Heads of State have conceded the operation… Read More Here

Mining in DRC

DRC President Urges Mining Companies to Establish Provincial Head Offices

July 17, 2023July 17, 2023 Constance

The President of the Republic, Félix Tshisekedi, is determined to see the mining companies respect their legal obligation to erect the building housing their head office in the capital of the province of exploitation. This is what emerges from his communication during the Council of Ministers on Friday July 14, 2023. In accordance with article 197 of the Mining Code in force, each “holder of a mining exploitation right is required to construct a building housing his head office according to the norms of international standards in the capital of the province of… Read More Here

International Gold

Barrick Receives Shares of Cascadia Minerals Pursuant to Previously Announces Spinout

July 17, 2023July 17, 2023 Constance

Barrick Gold Corporation announced that on July 12, 2023 it received 2,788,696 common shares of Cascadia Minerals Ltd. (“Cascadia”) as partial consideration for the acquisition by Hecla Mining Company (“Hecla”) of all of the common shares of ATAC Resources Ltd. (“ATAC”) pursuant to the previously announced plan of arrangement among Hecla, Alexco Resource Corp. and ATAC (the “ATAC Arrangement”). The Cascadia common shares owned by Barrick represent approximately 10.1% of Cascadia’s issued and outstanding common shares. Prior to completion of the ATAC Arrangement and the spin-out of Cascadia pursuant to… Read More Here

Mining in Zambia Economy

IMF Approves Zambia’s $189M Credit Facility

July 17, 2023July 17, 2023 Constance

The Executive Board of the International Monetary Fund (IMF) has approved for the immediate disbursement of 189 million dollars under the Extended Credit Facility Arrangement. This brings Zambia’s total disbursements under the Extended Credit Facility Arrangement to about 374 million dollars. The facility seeks to support Zambia’s homegrown economic reform plan to restore macroeconomic stability and foster higher, more resilient, and more inclusive growth. IMF Managing Director, KRISTALINA GEORGIEVA says Zambia has made commendable efforts over the past two years to stabilize the economy, despite the continuation of significant external… Read More Here

Mining in Zambia Artisanal mining Copper Gold Rare Earth Minerals

Zambia’s Mines Minister Provides Updates on Mopani, KCM and Several Mining Positions

July 14, 2023July 16, 2023 Constance

In a recent press briefing, Zambia’s Mines Minister, Paul Kabuswe, provided updates on several important issues related to the country’s mining sector. The briefing aimed to inform the nation about the progress and plans of the Ministry of Mines and Mineral Development. The minister discussed topics such as the status of Mopani Copper Mine (Mopani) and Konkola Copper Mines (KCM), the suspension of the exploration license for Kasenseli Gold Mine (KGM), the discovery of Sugilite in Luapula Province, the formalization of artisanal and small-scale mining (ASM), the establishment of the… Read More Here