Mining in Zambia - Copperbelt Katanga Mining

Zambia’s Govt Urges Public Support for Mopani Copper Mines Revitalization

April 9, 2024April 9, 2024 Constance

The Zambian government has urged citizens to disregard political rhetoric aimed at undermining its efforts to revitalize Mopani Copper Mines (MCM) through a partnership with International Resources Holding (IRH). Minister of Mines and Minerals Development, Paul Kabuswe, emphasized that the decision to allocate 51 percent shares to IRH is solely aimed at rejuvenating operations at the mine and should not be politicized. Kabuswe urged the public to ignore false rumors about the deal, stating that their intentions are solely to discredit the government. He clarified that despite the partnership, the… Read More Here

Mining in Zambia Diamond News in Brief

Zambia’s President Invites Botswana Investment Expertise to Mining Sector

April 7, 2024April 7, 2024 Constance1 Comment

President Hakainde Hichilema has extended an invitation to Botswana to invest in Zambia’s mining sector, citing Botswana’s expertise in managing diamonds as a key factor. Speaking at the launch of the Lusaka International Arbitration Center (LIAC), President Hichilema emphasized the importance of learning from Botswana’s successful management of diamond resources and replicating similar strategies for Zambia’s emeralds. President Hichilema expressed confidence in attracting investors like Botswana to utilize LIAC for resolving disputes efficiently. He highlighted LIAC’s role in addressing commercial issues promptly, stressing its significance in maintaining Zambia’s positive reputation… Read More Here

Mining in Zambia Economy Taxes

Zambia Revenue Authority Exceeds Q1 Revenue Target

April 7, 2024April 7, 2024 Constance

The Zambia Revenue Authority (ZRA) has reported a revenue collection of 28.4 billion kwacha in the first quarter of 2024, surpassing the targeted 28.1 billion kwacha by 339 million kwacha. ZRA Commissioner General, Dingani Banda, disclosed this in Lusaka today during a presentation at the Economics Association of Zambia (EAZ) Summit, delivered on his behalf by ZRA Acting Commissioner for Business Facilitation, Richard Kapasa. Mr. Banda outlined that ZRA aims to collect 125.3 billion kwacha through various taxes this year, marking a 21.5% increase from last year’s collection of 103… Read More Here

Mining in Zambia Copper

Xtract Resources Enters JV to Acquire Majority Stake in Zambia’s Silverking Copper Mine

April 7, 2024April 7, 2024 Constance

Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, in collaboration with Cooperlemon Consultancy, aimed at acquiring up to a 70% stake in Zambia’s Silverking copper mine and its associated exploration license. The initial option period spans 18 months, during which Xtract is obligated to invest $500,000 in exploration activities to earn a 51% interest. Upon completion of the earn-in period or upon reaching the investment threshold, the JV will be formally established between Xtract and Cooperlemon. Xtract retains the option to increase its stake to 70%… Read More Here

Mining in Zambia Copper Economy

Zambia’s Copper Production Set to Soar to 1 Million Tons by 2026 Amid Mine Expansions

April 7, 2024April 7, 2024 Constance

Zambia anticipates a significant rise in copper output, potentially reaching close to 1 million tons by 2026, driven by investments in expanding production at various mines, including those owned by First Quantum Minerals, according to Finance Minister Situmbeko Musokotwane. Copper production, crucial for Zambia’s economic prosperity, has been experiencing a gradual decline in Africa’s second-largest producer of the metal. Despite this, the government aims to boost output to around 3 million tons within the next decade. In 2023, copper output decreased to 698,000 tons from 763,000 tons the previous year,… Read More Here

Mining in Zambia Electricity

Zambia and Mozambique Strengthen Power Collaboration to Address Electricity Deficit

April 7, 2024April 7, 2024 Constance

Zambia and Mozambique have enhanced their partnership to tackle Zambia’s electricity shortfall by finalizing an agreement for additional power imports on Thursday last week. Under the agreement, signed by Zambia’s Zesco Limited and Mozambique’s state-owned energy firm, Mozambique Electricity (EDM), Zambia will now import an extra 40 megawatts of power, supplementing the existing 50 megawatts from a previous deal. This raises the total import capacity to 90 megawatts, effective until June 30, 2025. Victor Mapani, Zesco’s managing director, praised the amended agreement as evidence of the strong collaboration between the… Read More Here

Mining in Zambia

Zambia’s Mining Association Voices Concerns Over License Cancellations

April 4, 2024April 4, 2024 Constance1 Comment

The Emeralds and Semi-Precious Stones Mining Association of Zambia (ESMAZ) has expressed apprehension following the Ministry of Mines and Minerals Development’s decision to revoke over 2,500 mining licenses for small-scale miners. ESMAZ President Victor Kalesha has raised questions about the intended recipients of these licenses, expressing worry that they may be allocated to foreign companies instead of benefiting local miners. Kalesha highlighted concerns about certain officers within the Ministry’s cadastre department who, he believes, are working against the interests of Zambians. He stressed the need for engagement on statutory requirements… Read More Here

Mining in Zambia

Zambia Cancels Mining Rights Over Non-Compliance

April 4, 2024April 4, 2024 Constance

In compliance with Section 72 of the Mines and Minerals Development Act No. 11 of 2015, the Mining Licensing Committee (MLC) has taken decisive action at its 78th meeting to cancel certain mining and non-mining rights. These cancellations stem from non-compliance with the conditions stipulated in the grant of these rights, as clearly outlined in default notices circulated on October 24, 2023. Despite receiving these notices, the affected parties failed to take adequate remedial measures to address the Committee’s concerns satisfactorily. The cancellation of these rights is in accordance with… Read More Here

Mining in Zambia Economy

Zambia Association of Manufacturers Foresees Economic Recovery Post-Debt Restructuring

April 4, 2024April 4, 2024 Constance

The Zambia Association of Manufacturers (ZAM) expresses confidence in the restoration of Zambia’s credibility among the international community and lending institutions following debt restructuring. ZAM President Ashu Sagar asserts that Zambia can now focus on economic growth, thanks to debt restructuring measures. Sagar emphasizes that restructuring will enable the country to allocate resources towards crucial sectors, promoting investment and development. The previous debt burden had created uncertainty for the private sector and potential investors, hindering domestic economic growth. Sagar urges remaining commercial creditors to expedite negotiations to ensure a swift… Read More Here

Mining in Zambia Transport and Logistics

Presidents Hichilema and Masisi Advocate for Optimization of Kazungula Bridge Asset

April 4, 2024April 4, 2024 Constance

President Hakainde Hichilema and his counterpart Mokgweetsi Masisi have emphasized the need to optimize the Kazungula Bridge asset to ensure uniform development in the surrounding areas. They urged relevant offices to expedite negotiations on pending agreements during a joint communique read by Foreign Affairs Permanent Secretary Etambuyu Gundersen after witnessing the signing of 10 instruments of cooperation. Additionally, both presidents highlighted the importance of constructing a rail line to promote traffic flow across the bridge and enhance trade between Zambia and Botswana. Stakeholders have welcomed the signing of the 10… Read More Here