Economy - Copperbelt Katanga Mining

Chi-Africa Mining Company to Invest $5 Million in Zambia's Kalulushi District 1

The Chi-Africa Mining Company has announced plans to invest over $5 million (approximately K131 million) in mining, agriculture, and solar energy projects in the Kalulushi District of Copperbelt Province, Zambia. This announcement follows President Hakainde Hichilema’s successful participation in the Forum for China-Africa Cooperation in Beijing, where he secured a $1 billion upgrade for the Tazara railway line and agreements to enhance power generation at ZESCO. Copperbelt Minister Elisha Matambo praised Chi-Africa’s investment during a meeting with the company’s representatives. “His Excellency Hakainde Hichilema is focused and very hardworking,” he… Read More Here

Zambia and Zimbabwe Face Severe Power Crisis as Kariba Dam Water Levels Dwindle

September 11, 2024September 11, 2024 Constance

Zambia is set to shut down its hydropower plant at Kariba Dam on September 14, limiting households and businesses to just three hours of electricity per day. Meanwhile, Zimbabwe has warned it may be forced to turn off turbines at its hydropower station by December due to dwindling water levels caused by an El Niño-induced drought. Both Zambia and Zimbabwe are grappling with the effects of severe drought, driven by climate change, which has led to a dramatic drop in water levels at Kariba Dam—the world’s largest man-made lake and… Read More Here

Mining in DRC Economy Partnership

DRC Strengthens Sino-African Cooperation to Boost Economic Diversification and Growth

September 11, 2024September 11, 2024 Constance

The Democratic Republic of Congo (DRC) is working to deepen its trade partnership with China, following commitments made at the 2024 Forum on China-Africa Cooperation (FOCAC). On Monday, September 9, President Félix Tshisekedi briefed government officials on the outcomes of his recent mission to China. During the visit, China reaffirmed its commitment to Africa’s development, pledging $50 billion over the next three years to support infrastructure, agriculture, and green energy projects across the continent. President Tshisekedi views this pledge as a “tremendous opportunity” for the DRC to secure a significant… Read More Here

Mining in DRC Economy

Kamoa Copper Signs Partnerships with 13 Congolese SMEs to Boost Local Economy

September 9, 2024September 9, 2024 Constance

On August 22, Kamoa Copper formalized new partnership agreements with thirteen Congolese small and medium-sized enterprises (SMEs), under the oversight of the Regulatory Authority for Subcontracting in the Private Sector (ARSP). This initiative underscores Kamoa Copper’s commitment to supporting SME growth and fostering the development of a dynamic middle class in the Democratic Republic of Congo (DRC). In her address, Annebel Oosthuizen, Commercial Director of Kamoa Copper, expressed pride in the company’s role in organizing such initiatives. She emphasized Kamoa Copper’s crucial contribution to the DRC, the world’s leading cobalt… Read More Here

Mining in DRC Economy Events & Expos

Félix Tshisekedi and Xi Jinping Strengthen China-DRC Partnership Ahead of 2024 FOCAC

September 9, 2024September 9, 2024 Constance

Félix Tshisekedi met with Chinese President Xi Jinping in Beijing last week, prior to the 2024 Forum on China-Africa Cooperation (FOCAC). Their talks centered on strengthening bilateral ties, trade, and diplomatic relations, with a special focus on China’s support for the DRC in the United Nations Security Council. During the meeting, President Tshisekedi reaffirmed the DRC’s commitment to the one-China policy, recognizing Taiwan as an integral part of Chinese territory. He expressed gratitude for China’s ongoing support within the UN, especially in maintaining the DRC’s sovereignty and stability in the… Read More Here

Mining in Zambia Copper Economy

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