Economy - Copperbelt Katanga Mining

Mining Local Content Bill Set to Boost Economic Opportunities for Zambians

September 8, 2024September 8, 2024 Constance

Vice President Mutale Nalumango has emphasized that the implementation of the Mining Local Content Bill will bring significant economic benefits to all Zambians. Speaking at the Mining Local Content Conference and Expo in Kitwe, organized by the Zambia Association of Manufacturers (ZAM), Mrs. Nalumango stated that the bill will ensure that the wealth generated from Zambia’s natural resources leads to job creation and sustainable economic growth. Mines Minister Paul Kabuswe added that the bill is 90 percent complete and that legislation will soon be finalized. He noted that once implemented,… Read More Here

Mining in DRC Economy Gold

DRC Gold Output Nears 2023 Total in Just Eight Months

August 31, 2024August 31, 2024 Constance

The Democratic Republic of Congo (DRC) has seen a remarkable surge in raw gold production, nearly matching last year’s total output in just the first eight months of 2024. According to recent statistics from the Central Bank of Congo (BCC), the DRC’s raw gold production reached 34,526 kilograms by early August 2024. This figure nearly equals the entire production volume for 2023. In comparison, the DRC produced 29,498.09 kilograms of gold in 2022, with industrial mining accounting for 28,492.68 kilograms and artisanal mining contributing a modest 1,005 kilograms. The previous… Read More Here

Mining in DRC Economy

DRC to Negotiate New IMF Program After Successful Completion of Previous Agreement

August 25, 2024August 25, 2024 Constance

Following the completion of the sixth and final review of the economic program launched in 2021 with the International Monetary Fund (IMF) under the Extended Credit Facility (ECF), the Democratic Republic of Congo (DRC) government is preparing to negotiate a new program with the IMF, as well as a program under the Resilience and Sustainability Fund (RST). During the tenth meeting of the Council of Ministers on Friday, August 23, 2024, President Félix Tshisekedi instructed the government to “formally” engage in a new program with the IMF. He emphasized the… Read More Here

Mining in Zambia Economy

Zambia Development Agency Secures $8.9 Billion in Investments

August 25, 2024August 25, 2024 Constance

The Zambia Development Agency (ZDA) has successfully realized $8.9 billion in investments from 2021 to 2024, as announced by ZDA Director General, Mr. Albert Halwampa, during a media briefing held on Friday, August 23, 2024, at the ZDA Boardroom. Of the total committed investment of $54 billion, 440 companies have contributed to this substantial achievement, resulting in an actualization rate of 113%. The investments cover various sectors, with mining leading the way at $3.34 billion, followed closely by manufacturing at $3.10 billion, and transport at $1.2 billion. “This remarkable success… Read More Here

Mining in Zambia Copper Economy

FQM Trident Lauded for Empowering SMEs and Boosting Northwestern Province’s Economy

August 25, 2024August 25, 2024 Constance

Hon. Elias Mubanga, Minister of Small and Medium Enterprise Development, has commended FQM Trident Limited for its ongoing efforts to support small and medium enterprises (SMEs) in Zambia’s Northwestern Province. Speaking at the Kalumbila Business Clinics, Hon. Mubanga highlighted the crucial role SMEs play in Zambia’s economy and urged other large corporations, especially in the mining sector, to follow FQM’s example in empowering local businesses. “SMEs are the backbone of our economy, and it is essential that major firms, particularly in the mining industry, actively contribute to the growth and… Read More Here

Mining in Zambia Copper Economy

Mopani Copper Mines Produces First 200 Tonnes of Copper Anodes Post-Revival

August 25, 2024August 25, 2024 Constance

Mopani Copper Mines has successfully produced its first 200 tonnes of copper anodes since its revitalization under new equity partner, International Resources Holdings (IRH). The company was officially handed over to IRH in March this year by President Hakainde Hichilema. Mopani Copper Mines CEO, Charles Sakanya, announced that significant transformations have taken place since the revival. In the past three months, 400 professionals have been hired to enhance productivity. The mine has also doubled its shifts, resulting in a notable increase in production. Current copper output stands at 65,000 tonnes,… Read More Here

Mining in Zambia Copper Economy

President Hichilema Officially Hands Over KCM to Vedanta Resources

August 22, 2024August 22, 2024 Constance

Konkola Copper Mines (KCM) has been officially handed back to Vedanta Resources, marking the beginning of a new chapter for both the Copperbelt region and the nation. At the re-launch ceremony in Chililabombwe, President Hakainde Hichilema emphasized the importance of resolving disputes through dialogue rather than legal battles, commending Vedanta Resources and the government for negotiating a successful outcome. He described the handover as a “new chapter for KCM” and expressed optimism about the future. President Hichilema highlighted that KCM’s revival under Vedanta will create jobs for Zambians and expand… Read More Here

Mining in Zambia Copper Economy Governance

President Hichilema Hails Three Years of Progress, Highlights Key Achievements

August 21, 2024August 21, 2024 Constance

President Hakainde Hichilema has hailed his three years in office as a success, emphasizing significant achievements across various sectors due to dedicated efforts. Among the accomplishments highlighted are the revitalization of key mining operations, including Mopani Copper Mines, Konkola Copper Mines (KCM), and Shaft 28 in Luanshya. The President made these remarks during an interaction with the public and journalists at Simon Mwansa Kapwepwe International Airport in Ndola. His visit to the Copperbelt Province is part of a two-day working tour. Earlier, President Hichilema met with UPND Bwana Mukubwa Party… Read More Here

Mining in Zambia Copper Economy

President Hichilema Urges Vedanta to Strengthen Community Relations as KCM Operations Resume

August 21, 2024August 21, 2024 Constance

President Hakainde Hichilema has called on Vedanta Resources Limited, the owner of Konkola Copper Mines (KCM), to improve its engagement with local communities as it resumes operations. He emphasized that the government has already discussed with the company to prevent the issues that led to the mine’s previous liquidation, stressing the need for a renewed commitment to responsible practices. The President also highlighted the importance of mining companies fulfilling their obligations to traditional leaders, including the sponsorship of cultural ceremonies. He made these remarks during a meeting with traditional leaders… Read More Here

Mining in DRC Economy Governance Partnership

ARSP and FOGEC Unite to Strengthen Congolese Entrepreneurship and Middle-Class Growth

August 20, 2024August 20, 2024 Constance

In a recent working session, leaders from two key public institutions under the Ministry of Industry and SME Development—ARSP (Regulatory Authority of Subcontracting in the Private Sector) and FOGEC (Entrepreneurship Guarantee Fund in Congo)—met to discuss their roles in supporting the growth of a genuine Congolese middle class. The meeting focused on practical strategies to empower local entrepreneurs and ensure the successful implementation of projects, aligning with President Félix Tshisekedi’s vision of job creation and economic development. The discussion included the FOGEC royalty on the subcontracting market, a critical topic… Read More Here