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Category: Mining in Zambia

ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy 1 Mining in Zambia Economy Energy 

ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy

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ZCCM Investments Holdings PLC (ZCCM-IH) has announced a $10 million (approximately ZMW 275 million) investment in the second tranche of CEC Renewables Limited’s (CEC-R) Green Bond issuance. This strategic move underscores ZCCM-IH’s commitment to advancing sustainable energy and supporting Zambia’s capital market growth. The second tranche of the bond raised $96.7 million, earmarked for expanding the 60 MW Itimpi-1 solar photovoltaic (PV) plant into the 136 MW Itimpi-2 project. This initiative seeks to address Zambia’s persistent energy crisis by bolstering the country’s renewable energy infrastructure. Dr. Ndoba Vibetti, CEO of… Read More Here
KGL Unveils 10-Year Strategic Plan to Address Zambia’s Power Crisis 2 Mining in Zambia Electricity 

KGL Unveils 10-Year Strategic Plan to Address Zambia’s Power Crisis

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Amid Zambia’s ongoing power shortages, exceeding 1,300 MW and causing widespread blackouts, the Kafue Gorge Lower Power Development Corporation Limited (KGL), a subsidiary of Zesco Limited, has launched a transformative 10-year strategic plan. Announced on December 11, 2024, the plan aims to reshape the nation’s energy landscape by addressing the power crisis, promoting sustainable energy, and supporting Zambia’s economic development goals. KGL’s evolution from a project-focused entity to a fully operational power generation corporation is a critical milestone. Operating a 750 MW hydroelectric power plant, the largest installed capacity among… Read More Here
Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access 3 Mining in Zambia Copper Corporate News 

Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access

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Mercuria Energy Group has entered into a metals trading partnership with Zambia, marking another instance of a major commodity trader collaborating with a resource-rich nation to secure critical materials. The Geneva-based company announced its alliance with Zambia’s Industrial Development Corporation (IDC) on Thursday. This move aligns with Mercuria’s strategy to expand its metals trading operations, spearheaded by Kostas Bintas, a former Trafigura Group executive. The initiative reflects the growing interest among trading houses to secure access to minerals essential for the global energy transition. For Mercuria, increasing exposure to copper… Read More Here
World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience 4 Mining in Zambia Economy 

World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience

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The World Bank has approved a $100 million financing package to enhance Zambia’s capacity to manage natural disasters and strengthen its economic and climate resilience. The initiative integrates a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO). The financing package includes $25 million to address Zambia’s current economic challenges and promote climate adaptation, alongside $75 million set aside as contingent funding for rapid response to national disasters. This dual approach is designed to help Zambia manage the immediate impact of a severe drought… Read More Here
FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain 5 Mining in Zambia 

FQM Trident Empowers Local Suppliers with Business Training in Zambia’s Mining Value Chain

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First Quantum Minerals’ (FQM) Trident has launched a five-day “Expand Your Business” (EYB) training programme to enhance the capacity of 50 local suppliers to participate actively in the mining value chain. The programme, delivered by trainers accredited by the International Labour Organization (ILO), highlights FQM’s dedication to fostering sustainable economic growth by empowering local entrepreneurs. The training aligns with the Zambian government’s efforts to increase local content in the mining sector. Held in Solwezi, the initiative aims to equip participants with the skills and expertise needed to compete in global… Read More Here
UAE Investors Eye Zambia’s Natural Resources and Trade Potential 6 Mining in Zambia Economy 

UAE Investors Eye Zambia’s Natural Resources and Trade Potential

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Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has expressed the UAE’s interest in collaborating with the Zambian government to invest in Zambia for the benefit of its people. Staford highlighted Zambia’s abundant natural resources, which he believes should directly benefit the Zambian population. He also emphasized Zambia’s strategic position as a central trade hub in Africa, connecting eight countries and boasting a growing network. He noted that the UAE imports over $40 billion in precious metals annually, with 60% coming from Africa,… Read More Here
China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine 7 Mining in Zambia Copper Economy 

China Non-Ferrous Invests $100 Million in Zambia’s Shaft 28 Mine

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China Non-Ferrous Metal Company has emphasized its commitment to creating opportunities for the local community through its operations. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, announced significant progress in the mine’s dewatering process, supported by a $100 million investment. This development was highlighted during a visit to the mine in Luanshya by Water Development and Sanitation Minister, Collins Nzovu. Minister Nzovu noted that the dewatering process will not only help regulate the water levels of the Kafue River but will also benefit small-scale farmers by providing irrigation… Read More Here
Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025 8 Mining in Zambia Copper Mine Safety News in Brief 

Mopani Copper Mine Smelter to Shutdown for Maintenance Until February 2025

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The smelter at Mopani Copper Mine in Mufulira will remain out of operation until the end of February 2025 due to a breakdown of the Oxygen Plant at the facility. Mopani Copper Mines Chief Executive Officer, Charles Sakanya, confirmed that the smelter will be temporarily shut down to allow for necessary maintenance work. Sakanya assured that the mine will maintain communication with all stakeholders throughout the refurbishment process. The announcement was made in a statement issued by Mopani Public Relations Manager, Nebert Mulenga. SOURCE:znbc.co.zm Read More Here
Jubilee Metals Faces Power Disruptions at Roan While Advancing Key Projects in Zambia 9 Mining in Zambia Electricity New Mining Projects 

Jubilee Metals Faces Power Disruptions at Roan While Advancing Key Projects in Zambia

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Diversified metals processor Jubilee Metals, which operates in South Africa and Zambia, has reported significant disruptions at its Roan facilities in Zambia due to unplanned power outages. The blackouts have severely impacted production, with Roan operations being particularly vulnerable compared to the Sable refinery, which benefits from private electricity supply. In contrast, Jubilee’s Munkoyo and Project G mining operations remain unaffected and on schedule. The company is actively collaborating with Zambian authorities to manage the timing of outages and power restoration to reduce costs. However, the uncertainty surrounding Zambia’s national… Read More Here
Zesco Settles $82 Million Loan Prepayment to China Exim Bank for Kariba North Bank Extension 10 Mining in Zambia Electricity 

Zesco Settles $82 Million Loan Prepayment to China Exim Bank for Kariba North Bank Extension

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The Zambian government has clarified that the $82 million paid by Zesco to China Exim Bank is part of a loan obtained to help develop the $320 million, 360-megawatt Kariba North Bank Extension hydropower station. According to the Ministry of Finance, the financing agreement, secured in November 2009, established an account to manage funds for servicing the loan. Secretary to the Treasury, Felix Nkulukusa, explained that following approval from the Zesco Board in December 2022, the company transferred the accumulated $82 million as a principal prepayment to China Exim Bank.… Read More Here

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