Economy - Copperbelt Katanga Mining

ZCCM-IH Projects Over 1,000% Surge in EPS Following Mopani Transaction

June 20, 2025June 20, 2025 Constance

Diversified mining investments and operations company ZCCM Investments Holdings Plc (ZCCM-IH) expects its earnings per share (EPS) for the year ended December 31, 2024, to rise by approximately 1,077% year-on-year. This substantial increase is primarily attributed to the successful completion of the Mopani Copper Mines strategic equity partner (SEP) transaction, which transformed Mopani into a financially sustainable entity. The deal also enabled the settlement of ZK44.72 billion (US$1.71 billion) in debt owed to Glencore/Carlisa. As part of the transaction, ZCCM-IH recorded a one-time gain of ZK35.92 billion (US$1.41 billion) and… Read More Here

Mining in DRC Economy Events & Expos

EquityBCDC Reaffirms Commitment to DRC Mining Sector with Strong Financial Backing and Offtake Facilitation

June 16, 2025June 16, 2025 Constance

EquityBCDC reaffirmed its commitment to the Democratic Republic of Congo’s mining sector by offering strong financial backing and the ability to facilitate transactions between miners and their international offtakers. This was emphasized by Yves Bizunga Kussa, Deputy Managing Director of EquityBCDC and Managing Director of the Southern Region, during a panel discussion at the 20th edition of DRC Mining Week, which concluded on Friday, June 13, 2025, at the Karavia Hotel in Lubumbashi. As one of the major sponsors of the event, EquityBCDC was represented by a large delegation, continuing… Read More Here

Mining in DRC Economy Events & Expos

DRC’s Mining Sector Reaffirmed as Backbone of DRC Economy at DRC Mining Week

June 16, 2025June 16, 2025 Constance

As the 20th anniversary edition of DRC Mining Week opened in Lubumbashi, Haut-Katanga, Bin Nassor Kasongo, President of the Chamber of Mines of the Democratic Republic of Congo, underscored the pivotal role of mining in the country’s economic development. “From 2007 to 2022, our mining industry contributed nearly $30 billion to the public treasury, making the mining sector the backbone of the Congolese economy,” Kasongo stated during his keynote speech at the Pullman Karavia Hotel. He credited this achievement to the early vision of industry pioneers and reaffirmed the Chamber’s… Read More Here

Mining in Zambia Economy

Zambia Eyes 6% Economic Growth in 2025 Amid Copper Boom and Currency Surge

June 16, 2025June 16, 2025 Constance

Zambia’s economy is on track to grow by at least 6% this year, marking its strongest expansion since 2021, according to Finance Minister Situmbeko Musokotwane. The projection, he said, is fueled by a combination of improved rainfall and a surge in copper production, Zambia’s economic backbone. Speaking on the sidelines of Bloomberg’s annual Africa Business Media Innovators Conference, Musokotwane emphasized that the country’s mining sector—particularly copper—is central to its ongoing economic rebound. Zambia, the second-largest copper producer in Africa, saw a significant increase in metal output last year. Copper accounts… Read More Here

Transport and Logistics Angola Economy Mining in DRC Mining in Zambia

AFC Secures $320 Million Deal with Italy to Boost Angola’s Lobito Corridor

June 10, 2025June 10, 2025 Constance

Africa Finance Corporation (AFC), a Lagos-based continental financier, will soon sign a $320 million financing agreement with Italy, part of which will support the development of a new transport corridor linking critical mineral fields in central Africa to Angola’s Lobito port, according to AFC CEO Samaila Zubairu. AFC, owned by African central banks and development lenders, is the financing partner for the U.S.-backed Lobito Corridor project. The corridor aims to connect the Atlantic port of Lobito in Angola with mineral-rich regions in Zambia and the Democratic Republic of the Congo,… Read More Here

Mining in Zambia Copper Corporate News Economy

FQM Injects $2.6 Billion into Zambia’s Economy in 2024

June 8, 2025June 8, 2025 Constance

First Quantum Minerals (FQM) contributed over $2.6 billion to Zambia’s economy in 2024 through its operations at the Trident and Kansanshi mines in North-Western Province, according to the company’s latest Global Tax Transparency and Economic Contributions Report. The report reveals that FQM paid $650 million in taxes, spent $1.75 billion on local procurement, disbursed $236 million in wages to local employees, and invested $13 million in community development initiatives. In terms of output, the two mines produced 402,000 tonnes of copper and 19,000 tonnes of nickel last year. FQM continues… Read More Here

Mining in Zambia Copper Economy

Zambia’s Refined Copper Exports Rise 17.6% in Q1 as Output Expansion Accelerates

June 8, 2025June 8, 2025 Constance

Zambia’s refined copper exports reached 283,500 tonnes in the first quarter of 2025, marking a 17.6% increase compared to 241,000 tonnes during the same period last year, according to newly released data. The positive trend is reflected in monthly growth figures, with exports rising from 71,200 tonnes in March 2025 to 72,300 tonnes in April—an increase of 1.6%. This steady growth supports the Zambian government’s ambitious target of producing 3 million tonnes of copper annually by 2031. The objective is part of a broader strategy to maximize the economic benefits… Read More Here

Mining in Zambia Economy

Govt and Zambia Chamber of Mines Reach Agreement on Local Content Regulations

June 7, 2025June 7, 2025 Constance

The Ministry of Mines and Minerals Development and the Zambia Chamber of Mines have reached an important agreement on the draft Statutory Instrument (SI) concerning Local Content in the mining sector. The two parties have agreed that the draft SI will now move to the next stage of development, following a series of amendments discussed and accepted during a meeting held in Lusaka earlier today. In a joint statement signed by Zambia Chamber of Mines President Anthony Malenga and Ministry of Mines Permanent Secretary Hapenga Kabeta, both sides expressed satisfaction… Read More Here

Mining in DRC Economy

DRC to Audit State Interests in Mining Sector Amid Transparency Concerns

June 3, 2025June 3, 2025 Constance

In response to mounting pressure on public finances, the government of the Democratic Republic of Congo (DRC) is set to audit the state’s shareholdings in mining companies. During the Council of Ministers meeting held on May 30, 2025, President Félix Tshisekedi called for the swift establishment of an ad hoc commission to undertake this task, according to the official report from the session. The commission, to be coordinated by the Ministries of Finance, Mines, and State Portfolio, will be responsible for conducting a comprehensive audit of mining assets under state… Read More Here

Mining in DRC Economy Infrastructural Development

DRC United States Mining Deal to Finance 58 Billion USD Infrastructure Plan

May 31, 2025May 31, 2025 Constance

The Democratic Republic of Congo (DRC) has unveiled a $58 billion master plan aimed at rebuilding and modernizing its critical infrastructure, as part of a broader $500 billion mega-partnership announced with the United States. The plan was presented on Tuesday, May 27, 2025, by Minister of Foreign Trade Julien Paluku during a high-level discussion on national investment priorities. “I am proposing a structured master plan worth $58 billion, focusing on priority projects such as national, provincial, and agricultural roads,” said Paluku. The Minister emphasized that targeted investments in key sectors… Read More Here