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Category: Mining in Zambia

Vedanta Engages Stakeholders for KCM Transition Updates in Kitwe 1 Mining in Zambia Copper 

Vedanta Engages Stakeholders for KCM Transition Updates in Kitwe

Constance
Vedanta Resources, a global mining firm, recently convened a significant engagement session with key stakeholders in Kitwe, Zambia. Led by Malcolm Mewett, the KCM Designate Chief Operating Officer, and Dr. Moses Banda, the Country Director for Vedanta Resources, the meeting aimed to update leaders from Mine Workers Unions and the Zambia Mine Suppliers Association on the ongoing transition process concerning Konkola Copper Mines (KCM). The discussions centered on various aspects, including updates on the creditors’ scheme of arrangement, progress on capital raising efforts, and the crucial issue of bridge financing.… Read More Here
Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition 2 Copper Gold Mining in Zambia 

Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition

Constance
The global copper industry has long grappled with underinvestment, hindering its ability to meet the rising demand driven by the worldwide transition to renewable energy. However, Barrick, recognized the critical importance of copper in the greening of the global grid and made its expansion a strategic priority following the merger with Randgold five years ago. Barrick’s thorough review of its global assets identified two significant opportunities: the Lumwana mine in Zambia and the dormant Reko Diq project in Pakistan. The Lumwana mine, once struggling, underwent a remarkable transformation under Barrick’s… Read More Here
Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining 3 Mining in Zambia 

Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining

Constance
Mashrock Mining Limited finds itself embroiled in a legal dispute with the Zambia Revenue Authority (ZRA), alleging defamation and demanding $5 million in damages to its business reputation. The heart of the matter, filed in the Lusaka High Court, revolves around an article published on the official ZRA page, later disseminated across various media platforms. Titled “ZRA unearths tax evasion scheme involving over K82 million,” the article implicates Mashrock Mining Limited in alleged tax evasion activities. The mining company contends that these publications occurred amidst ongoing investigations by the ZRA… Read More Here
IMF Mission Acknowledges Zambia's Economic Progress Amid Challenges 4 Mining in Zambia Economy 

IMF Mission Acknowledges Zambia’s Economic Progress Amid Challenges

Constance
A recent visit from the International Monetary Fund (IMF) to Zambia has underscored the nation’s significant advancements in fiscal adjustments, bolstering social sector spending, and efforts toward debt sustainability. Conducted as part of the third review of the Extended Credit Facility (ECF) Programme, the mission took place from April 24 to May 7, 2024, with a focus on various economic facets, including the impact of drought on the economy. Despite encountering global adversities, Zambia has demonstrated notable strides in fiscal management and investment in social sectors, as highlighted by the… Read More Here
FQM WORKS WITH ZESCO TO EASE ENERGY PRESSURE 5 Mining in Zambia Copper Electricity Press Release 

FQM WORKS WITH ZESCO TO EASE ENERGY PRESSURE

Constance
First Quantum Minerals (FQM) is working with ZESCO to help source imported power and enable the state utility company to reduce the burden on the national grid. As Zambia’s largest copper producer, FQM operates the Kansanshi and Trident mines in North-Western Province, making a critical economic contribution to national export earnings, government revenue and employment. The company currently buys an average of 224,000 megawatt hours of electricity every month from ZESCO, which recently invoked the force majeure clause in its power supply agreements with some mines, signalling a need for… Read More Here
Mingomba Mining Limited Welcomes International Talent to Zambia 6 Mining in Zambia Mining Personality New Mining Projects News in Brief 

Mingomba Mining Limited Welcomes International Talent to Zambia

Constance
Mingomba Mining Limited, a collaboration between KoBold Metals and ZCCM Investments Holdings Plc, has announced the appointment of Mr. Kalimina Mwinga PMP as Project Control Manager and Mr. Fanuel K Banda, P.E., PMP as Chief Mining Engineer. Both Mwinga and Banda bring a wealth of international experience to their roles, having spent over a decade honing their skills in South Africa and the USA, respectively. Commenting on the appointments, KoBold Metals Africa CEO Mfikeyi Makayi stated, “We aren’t seeking the best talent solely within Zambia; rather, we are committed to… Read More Here
White House Urges Responsible Mining in DRC and Zambia for Global Energy Transition 7 Mining in Zambia Mining in DRC 

White House Urges Responsible Mining in DRC and Zambia for Global Energy Transition

Constance
A senior White House official emphasized the necessity of encouraging mining projects in countries such as the Democratic Republic of Congo (DRC) and Zambia to secure a reliable and sustainable global supply of critical minerals essential for combating climate change. Amos Hochstein, White House senior adviser for energy and investment, stressed the significance of these mineral-rich nations in meeting the soaring global demand for clean energy components and infrastructure to support advancements like artificial intelligence, offering an alternative to China’s dominance. Hochstein highlighted the need for initiatives similar to President… Read More Here
Zambia to Kickstart Car Battery Manufacturing, Boosting Economic Growth 8 Mining in Zambia Battery Metals 

Zambia to Kickstart Car Battery Manufacturing, Boosting Economic Growth

Constance
Zambia is gearing up to launch car battery production by the end of July this year, with the arrival of essential manufacturing equipment. During a recent visit to the Jiangxi Multi Facility Economic Zone in Chibombo district, General Manager Xu Jianfeng outlined the upcoming two-month period dedicated to equipment testing and plant finalization before full-scale production commences. In the initial phase, the facility plans to produce 400,000 batteries, with production capacity set to double upon reaching full operational status. With nine investment agreements already secured, totaling over $100 million, the… Read More Here
Prospect Resources Completes Deal with Orpheus Uranium 9 Mining in Zambia Copper New Mining Projects Uranium 

Prospect Resources Completes Deal with Orpheus Uranium

Constance
Prospect Resources Limited (PSC: ASX, 5E8:FRA) has finalized a significant deal with Orpheus Uranium Limited (ASX: ORP), marking a milestone in the advancement of their Mumbezhi Copper Project in Zambia. The agreement, announced publicly on April 9, 2024, provides Prospect with access to crucial data to propel their project forward. As part of the agreement, Prospect paid Orpheus A$1.0 million in fully paid PSC shares, serving as partial reimbursement for prior exploration expenses. Additionally, three options to acquire ordinary PSC shares were granted for every four shares issued, priced at… Read More Here
ZESCO Imports Electricity Amid Drought-Induced Power Shortages 10 Mining in Zambia Electricity 

ZESCO Imports Electricity Amid Drought-Induced Power Shortages

Constance
ZESCO has announced the commencement of electricity imports to mitigate the impact of reduced capacity caused by an ongoing drought. The imported electricity will contribute 20% of the total power supply for a minimum of 12 months, according to a statement released by the power utility. Matongo Maumbi, ZESCO’s spokesperson, acknowledged potential challenges associated with the imported power. He stated that while efforts will be made to maintain existing load-shedding schedules, unforeseen disruptions may occur. However, ZESCO is committed to addressing any disruptions promptly to minimize inconvenience to customers. Maumbi… Read More Here

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