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Category: Energy

Zambia's Zesco Seeks Power Imports to Mitigate Energy Deficit 1 Mining in Zambia Electricity Energy 

Zambia’s Zesco Seeks Power Imports to Mitigate Energy Deficit

Constance
Zambia’s state-owned electricity utility, Zesco, announced plans on Monday to import power in order to address an impending energy shortfall that threatens production in the nation, known as Africa’s second-largest copper producer. With 86% of its electricity sourced from hydropower stations, Zambia faces challenges due to a severe drought caused by El Nino, a weather phenomenon marked by abnormal warming of the waters in the eastern Pacific, resulting in global temperature fluctuations. Zesco anticipates a power generation deficit of 700 megawatts this year, prompting negotiations for additional electricity imports. These… Read More Here
CEC Renewables: Second Annual Report Highlights Achievements and Growth Outlook 2 Mining in Zambia Energy Green Energy 

CEC Renewables: Second Annual Report Highlights Achievements and Growth Outlook

Constance
In a recent update, CEC Renewables has shared its second annual report, covering the period from January 1, 2023, to December 31, 2023. This report showcases a year of remarkable achievements and outlines the company’s strategies for future growth in Zambia’s renewable energy sector. Key highlights from the report include the completion of the RSP project with a capacity of 34 MW, positioning it as one of the largest solar power plants in the country. Additionally, CEC Renewables established a dedicated management team and registered a USD 200 million Green… Read More Here
Copperbelt Energy Corporation PLC Announces Board Resignation and Appointment 3 Mining in Zambia Energy Mining Personality 

Copperbelt Energy Corporation PLC Announces Board Resignation and Appointment

Constance
Copperbelt Energy Corporation PLC (CEC) has made significant changes to its Board of Directors, in line with Section 3.59 of the LuSE Listing Requirements. The company has announced the resignation of Mr. Derek Chime as a director, effective April 2, 2024. Simultaneously, the Board is pleased to announce the appointment of Mr. Auke Lont as a director, also effective April 2, 2024. Mr. Lont brings with him a wealth of experience and expertise in the energy sector, having served as the Chief Executive Officer of Statnett, Norway’s national power transmission… Read More Here
President Hichilema Inaugurates 60 Megawatt Solar Plant in Kitwe to Combat Energy Crisis 4 Mining in Zambia Electricity Energy 

President Hichilema Inaugurates 60 Megawatt Solar Plant in Kitwe to Combat Energy Crisis

Constance
In a significant move towards diversifying Zambia’s energy sector, President Hakainde Hichilema inaugurated the 60-megawatt Itimpi power project in Kitwe last week. Developed by the Copperbelt Energy Corporation (CEC), the project represents a pivotal step in the country’s efforts to increase investments in non-hydro-based power generation. President Hichilema, who was on a five-day visit to the Copperbelt region, emphasized the importance of private sector involvement in sustaining such investments. He urged entrepreneurial firms to capitalize on Zambia’s abundant sunlight by investing in solar energy, thereby contributing to a more resilient… Read More Here
One Road Initiative Advances Green Energy Collaboration in DRC 5 Mining in DRC Energy 

One Road Initiative Advances Green Energy Collaboration in DRC

Constance
The One Belt, One Road project, initiated by President Xi Jinping in 2013, aims to rejuvenate ancient trade routes connecting Asia, Europe, and Africa, fostering global economic development through international cooperation. Recognizing the imperative of transitioning to sustainable energy amid climate challenges, renewable sources like solar, wind, and hydropower emerge as critical priorities within the project. By embracing clean technologies, participating nations can curb carbon emissions, generate green jobs, and foster sustainable economic growth. During the third International Cooperation Summit Forum on October 18, 2023, President Xi Jinping emphasized the… Read More Here
Building energy reliability for the mining industry 6 Corporate News Energy 

Building energy reliability for the mining industry

arnbethnic
The mining sector faces considerable headwinds across the faltering global and local economies, geopolitical complexity, and power instability. Energy supply shortages are affecting mining organisations – the sector has had to navigate soaring costs, increasingly demanding sustainability regulations, and unreliable power supply while dealing with mercurial markets and fluctuating economies. They need an integrated energy approach that leverages natural and available resources in a solid and well-structured ecosystem which is cost-effective, reliable, and sustainable. Protecting this asset from the vagaries of an unreliable energy supply is crucial. And yes, the… Read More Here
World Bank's $100M Grant to ZESCO Drives Zambian Energy Reforms 7 Mining in Zambia Electricity Energy 

World Bank’s $100M Grant to ZESCO Drives Zambian Energy Reforms

Constance
Energy expert Johnstone Chikwanda asserts that the disbursement of a $100 million grant to Zambia, allocated for ZESCO Limited by the World Bank, will accelerate ongoing energy sector reforms aimed at enhancing access to sustainable clean energy. Dr. Chikwanda emphasizes that Zambia, as a signatory to United Nations Sustainable Development Goal Number 7, stands to benefit significantly from this support as it strives to achieve universal access to clean energy by 2030. He underscores the timeliness of the disbursement, noting the government’s unprecedented efforts to diversify the electricity generation mix.… Read More Here
ZESCO Negotiates Increased Electricity Imports from Mozambique 8 Mining in Zambia Electricity Energy News in Brief 

ZESCO Negotiates Increased Electricity Imports from Mozambique

Constance
Zambian Energy Minister Peter Kapala announced negotiations between ZESCO and Mozambique’s EDM to increase electricity imports to 120 MW. Currently, Zambia imports 50 to 90 MW from Mozambique and plans to boost it to meet demand. This move, however, will result in a revenue loss of $110 million. Last October, EDM agreed to resume electricity sales to Zambia under a contract potentially reaching 250 MW. The agreement includes firm sales of 50 MW during off-peak hours and an additional 200 MW on a non-firm basis. Additionally, both parties renewed an… Read More Here
Copperbelt Energy Corporation Reports 171% Profit Growth to US$137.6 Million in 2023 9 Mining in Zambia Energy 

Copperbelt Energy Corporation Reports 171% Profit Growth to US$137.6 Million in 2023

Constance
Copperbelt Energy Corporation (#CEC) has recorded an increase in profit by 171 percent, from US$50.8 million in 2022 to US$137.6 million in 2023. According to CEC’s latest financial report signed by company secretary Julia Chaila, the energy firm also recorded an increase in revenue from US$374.4 million in 2022 to US$382.3 million in 2023, representing a two percent increase. Ms Chaila stated that the increase in revenue was underpinned by local and regional power sales that increased by five percent and two percent respectively. “The increase in earnings is as… Read More Here
Zambia Develops Plans to Address Electricity Needs Amid Drought Threat to Hydropower 10 Mining in Zambia Electricity Energy 

Zambia Develops Plans to Address Electricity Needs Amid Drought Threat to Hydropower

Constance
Zambia has developed strategies to import and manage electricity as a severe drought threatens to impact hydropower generation, the nation’s primary power source, as reported by Reuters. The ongoing dry spell, declared a national disaster, is anticipated to negatively affect food production and could have repercussions on the mining sector, a vital component of Zambia’s economy as the second-largest copper producer in Africa. President Hichilema highlighted that the energy sector is projected to face a deficit of nearly 450 to over 500 megawatts this year due to the prolonged dry… Read More Here

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