Economy - Copperbelt Katanga Mining

BRICS to Admit 6 New Members

August 25, 2023August 25, 2023 Constance

The BRICS economic coalition of emerging nations has announced that it will extend membership invitations to six nations including Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE). Announced during the final day of the 15th BRICS Summit in Johannesburg, South Africa on 24 August, the BRICS alliance – which is currently composed of Brazil, Russia, India, China, and South Africa – has sought to expand the group as part of efforts to reshape global governance into a more diverse and inclusive world order that benefits the Global… Read More Here

KoBold Metals’ Project Poised to Boost Zambia’s Growth and Global Sustainability

August 23, 2023August 23, 2023 Constance

In a recent interview, KoBold Metals’ co-founder and President Josh Goldman shed light on the significant contribution that KoBold’s project is set to make to Zambia’s economic growth and the global shift towards sustainable resource development. The conversation delved into Zambia’s mineral-rich landscape, its commitment to sustainable practices, and the unique opportunities that KoBold’s innovative technology presents. The transition to a low carbon economy hinges on critical metals like copper, cobalt, nickel, and lithium. These metals are essential for renewable energy technologies, electric vehicles, and other green innovations. Zambia, blessed… Read More Here

Economy International

Brics bank strives to reduce reliance on the dollar

August 22, 2023August 22, 2023 Constance

The development bank set up by the Brics nations plans to begin lending in the South African and Brazilian currencies as part of a plan to reduce reliance on the dollar and promote a more multipolar international financial system, according to its president. Dilma Rousseff, the former Brazilian leader who heads the New Development Bank, also said the Shanghai-based lender was considering applications for membership from about 15 countries and was likely to approve the admission of four or five. She declined to name the countries but said it was… Read More Here

Economy International

BRICS Leaders Meet in South Africa to Counter Western Influence and Discuss Alliance Expansion

August 18, 2023August 18, 2023 Constance

Leaders from BRICS, a loose collection of nations accounting for a quarter of the world’s finances and aiming to dominate the global economy in a few decades, will convene in South Africa to discuss ways to reverse the West’s economic dominance. The BRICS nation including Brazil, Russia, India, China, and South Africa, will have their heads of state in attendance with the exception of Russian President Vladimir Putin who is currently considered a wanted man, with an international arrest warrant over alleged war crimes in Ukraine. China’s Xi Jinping, Brazil’s… Read More Here

Mining in Zambia Copper Economy Mining in DRC

Zambia’s plan to dig its way out of debt with a copper revival

August 13, 2023August 13, 2023 Constance

As of July, the pursuit of a premier copper reserve on a global scale guided a Silicon Valley startup to the doorstep of a once-mighty mining empire. In the town of Chililabombwe, situated within Zambia’s Copperbelt province and near the border with the Democratic Republic of Congo, dignitaries observed with anticipation as a drilling rig penetrated deep into rock. KoBold Metals, backed by formidable venture capitalists such as Breakthrough Energy Ventures with support from luminaries like Bill Gates and Jeff Bezos, embarked on a $150 million exploration venture with the… Read More Here

Mining in DRC Economy

DRC and UAE Sign Historic Mining Agreement for 3Ts Minerals in Kivu Region

July 20, 2023July 20, 2023 Constance

A mining agreement between the Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) would see the exploitation of the 3Ts minerals (tantalum or coltan, tungsten, and tin) in the Kivu region of the nation. Monday’s signing ceremony between Primera Mining, an Emirati corporation donating almost $2 billion to the project, and state-owned enterprise Société aurifère du Kivu et du Maniema (Sakima SA), was observed by the president of Congo, Félix Tshisekedi. The United Arab Emirates’ Minister of State for Foreign Affairs, Sheilk Shakhboot Nahyan Al Nahyan,… 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 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 DRC Economy Zinc

DRC Records Impressive Zinc Production of 3,625.71 Tons in Q1 2023

July 14, 2023July 14, 2023 Constance

The mining industry in the Democratic Republic of Congo (DRC) produced 3,625.71 tons of zinc ore during the period from January to March 2023. These figures were communicated by the Ministry of Mines. The source notes that the production sold, including exports and local sales to other entities for processing before export, amounted to 3,625.71 tons of zinc, the same quantity produced during the period under analysis. It should be noted that zinc ore production is up sharply in the first quarter of the current year compared to 2022. In… Read More Here