Mining in Zambia - Copperbelt Katanga Mining

Minister of Technology Encourages Zambians to Embrace Digital Innovation for Progress 1

Minister of Technology and Science, Felix Mutati, urged Zambians to leverage the potential of the internet and artificial intelligence (AI) for positive transformation, emphasizing the importance of contributing to knowledge through innovation and entrepreneurship. His remarks were made during the recent launch of a digital marketing book at the University of Zambia. Minister Mutati highlighted the pivotal role of digital technology in revolutionizing marketing strategies, empowering consumers, and facilitating financial interventions. He commended the authors, Clement and Rachel Sinyangwe, for their dedication in sharing knowledge through their book titled “Digital… Read More Here

Mopani Copper Mines Relaunch Marks New Era for Zambia

March 22, 2024March 22, 2024 Constance

In a historic event for Kitwe, the Copperbelt, and Zambia’s mining sector, Mopani Copper Mines celebrated its revitalization, heralding a significant economic shift for the region and the nation. President Hakainde Hichilema expressed deep appreciation for the collaborative efforts that led to the relaunch, emphasizing the meticulous negotiations with International Resource Holdings (IRH) from Abu Dhabi. The partnership, characterized by mutual respect and equitable benefits, ensures Zambian citizens retain a 49% shareholding through ZCCM-IH, showcasing a commitment to national prosperity. IRH’s $1.1 billion investment marks a groundbreaking milestone, representing the… Read More Here

Mining in Zambia Electricity Energy

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

March 21, 2024March 21, 2024 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

Mining in Zambia Copper Economy

Mopani Copper Mines Handover Boosts Economic Hopes in Kitwe

March 21, 2024March 21, 2024 Constance

The impending handover of Mopani Copper Mines to Delta Mining Limited by President Hakainde Hichilema is hailed as a significant milestone for the entire Copperbelt region, according to stakeholders in Kitwe. Lawrence Mwanza, Kitwe District Commissioner, believes this development will catalyze economic growth and youth employment opportunities, underscoring the government’s commitment to fostering sustainable mining partnerships with investors like International Resources Holdings. And Mining engineer Boniface Matanda commends President Hichilema’s administration for ensuring Mopani Copper Mines’ return to full production, highlighting the positive impact on the local economy. Saul Simujika,… Read More Here

Mining in Zambia Copper Economy News in Brief

Zambia’s Govt Expects Mopani Handover to Boost Kwacha Stability

March 21, 2024March 21, 2024 Constance

Handover of Mopani Mines to Delta Mining Expected to Bolster Kwacha Stability, says Government Spokesperson Cornelius Mweetwa, the Chief Government Spokesperson, asserts that the transfer of Mopani Copper Mines to Delta Mining Limited will play a pivotal role in further stabilizing the Kwacha against major convertible currencies. Mweetwa emphasizes that the activation of Mopani’s operations will not only contribute to Kwacha stability against the dollar and other convertible currencies but also lead to an increase in copper production. President Hakainde Hichilema is slated to formally hand over Mopani Mines to… Read More Here

Mining in Zambia Economy

Zambian Officials Advocate for Local Participation in Mining Supply Chains

March 21, 2024March 21, 2024 Constance

Minister of Mines and Mineral Development Paul Kabuswe, emphasized the detrimental impact of mines forming supply chain cartels involving foreigners, which undermines the country’s economy. Kabuswe urged mines to cease using the alleged lack of capacity among local contractors as an excuse for not engaging them in business dealings. His remarks were conveyed by Mines Permanent Secretary Dr. Hapenga Kabeta during the launch of the Barrick Lumwana Business Accelerator Program in Solwezi. Chipoka Mulenga, Minister of Trade, Commerce, and Industry, echoed Kabuswe’s sentiments, urging mines to comply with local content… Read More Here

Mining in Zambia Copper Economy

Revitalized Mopani Copper Mines Projected to Boost Employment and Economic Growth

March 21, 2024March 21, 2024 Constance

Minister of Mines and Minerals Development, Paul Kabuswe, has announced that the rejuvenated Mopani Copper Mines (MCM) is poised to create 2,000 direct job opportunities and an additional 1,000 indirect employment avenues. Today, President Hakainde Hichilema is set to formally transfer Mopani to its new equity partners, International Resources Holding (IRH) from Abu Dhabi, who have acquired a 51 percent stake in the mine. The IRH agreement, valued at US$1.1 billion, earmarks a significant portion for settling outstanding dues to contractors, suppliers, and addressing debt obligations to Glencore. In 2021,… Read More Here

Mining in Zambia Electricity Energy News in Brief

ZESCO Negotiates Increased Electricity Imports from Mozambique

March 18, 2024March 18, 2024 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

Mining in Zambia Copper Mergers & Acquisitions

Sinomine Resource Group Makes Significant Investment in Zambian Copper Mine

March 17, 2024March 17, 2024 Constance

Shares of Sinomine Resource Group experienced a notable surge following the announcement of its plan to acquire a majority stake in a Zambian copper mine for USD 58.5 million. Sinomine closed 6.8 percent higher at CNY 40.79 (USD 5.67) on the Shenzhen stock exchange today. The acquisition will be conducted through Sinomine’s subsidiary, African Minerals, which will purchase a 65 percent stake in Junction Mining from Momentum Ventures and Chifupu Resources. Junction Mining’s primary asset is the Kitumba copper project in Zambia, boasting 27.9 million tons of proven… Read More Here

Mining in Zambia Copper Economy

FIRST QUANTUM CEO INSPECTS PROGRESS OF S3 EXPANSION AT KANSANSHI

March 17, 2024March 17, 2024 Constance

First Quantum Minerals Chief Executive, Tristan Pascall, has been on the ground at Kansanshi to personally inspect the progress the company is making with its S3 expansion project. Of a total investment commitment of US$1.25 billion, the majority of this is being spent this year to ensure the entire project is completed by mid-2025. The S3 expansion entails an expansion of the mine pit and the mining fleet that services it, as well as the construction of a new processing plant, and a major expansion of the Kansanshi smelter. The… Read More Here