Mining in Zambia - Copperbelt Katanga Mining

Westate Resources Commits $120M to Nangoma Mining Ventures in Zambia 1

Westate Resources Limited, an Australian-based company, has announced plans to invest approximately $120 million in mining ventures in Nangoma, Central Province. Managing Director Paul Berresford stated that this infusion of capital is intended to bolster expansion and exploration initiatives in the area. During discussions with Central Province Minister Princess Kasune, Mr. Berresford emphasized that the funds will be allocated in phases to support various facets of the company’s operations, with a primary emphasis on fostering sustainable growth and responsible resource management. Minister Kasune underscored the importance of adherence to established… Read More Here

Zambia and World Bank Partner to Boost Copper Production

February 28, 2024February 28, 2024 Constance

Zambia, in collaboration with the World Bank, has embarked on a strategic initiative to elevate the country’s annual copper production to three million metric tonnes, signaling a concerted effort to revitalize the economy and leverage its mineral wealth. Speaking at the Roadmap for Leveraging Zambia’s Energy Transition Mineral Endowment for Economic Transformation Workshop in Lusaka, Finance and National Planning Minister, Situmbeko Musokotwane, unveiled plans for this ambitious endeavor. He emphasized the importance of value addition, citing a robust market demand poised to drive Zambia’s copper industry forward. “Despite the passage… Read More Here

Copper Mining in Zambia New Mining Projects

Transformative Copper Venture Set to Energize Mumbwa Region in Zambia

February 28, 2024February 28, 2024 Constance

In a significant development poised to revitalize Central Province, a joint venture copper mine, the Kitumba Mine, is set to commence operations in Mumbwa with an initial infusion of US$500 million, promising to generate approximately 2,000 direct employment opportunities. Minister of Mines and Minerals Development, Paul Kabuswe, unveiled this promising venture during an interview on ZNBC’s Sunday Interview program, where he underscored the transformative impact expected in the mining sector. “Kitumba Mine, a collaborative effort between Zambian and British stakeholders, marks a turning point for the region,” Minister Kabuswe remarked.… Read More Here

Mining in Zambia Copper

Tertiary Minerals to own 90% of Zambia copper assets in new JV

February 28, 2024February 28, 2024 Constance

Tertiary Minerals PLC announced on Monday a new joint venture deal with Zambia-based Mwashia Resources Ltd, consolidating ownership of the Jacks, Mukai, and Mushima North exploration licenses into a new Zambian company. Tertiary Minerals, a mineral exploration and development company focusing on energy transition metals, operates projects in the US and Zambia. Under the agreement, the new company will be 90% owned by Tertiary’s Zambian subsidiary, Tertiary Minerals (Zambia) Ltd, with Mwashia holding the remaining 10%. Previously, all licenses were held by Mwashia. Tertiary possesses the right to a 90%… Read More Here

Transport and Logistics Mining in DRC Mining in Zambia

European Union Reaffirms Commitment to Lobito Corridor Development in Angola

February 26, 2024February 27, 2024 Constance

In a recent meeting held in Luanda, the European Union (EU) reiterated its dedication to financing ongoing feasibility studies and professional training initiatives aimed at enhancing productivity and profitability within the Lobito Corridor. The assurance came during discussions between European Commissioner Jutta Urpilainen and Angolan Minister of Transport, Ricardo Viegas D’Abreu. The primary focus of this meeting was to underscore the EU’s unwavering support for the development of the Lobito Corridor. Through its Global Gateway Strategy initiative, the EU has already allocated three million euros for feasibility studies aimed at… Read More Here

Mining in Zambia Artisanal mining

MUZ Urges Accelerated Formalization of Illegal Mining Operations in Zambia

February 25, 2024February 25, 2024 Constance

The Mine Workers Union of Zambia (MUZ) has issued a compelling call to the government to accelerate the formalization process of illegal mining operations. MUZ President, Joseph Chewe, emphasized that expediting this process is essential to mitigate the occurrences of fatalities during mining activities. Chewe underscored the importance of refraining from demonizing illegal miners but rather integrating them into the formal sector, thereby enabling them to contribute positively to national development efforts. He emphasized that formalization would not only enhance safety standards but also facilitate government oversight through the deployment… Read More Here

Mining in Zambia Economy

Zambia’s Kwacha Emerges as Top-Performing African Currency Amid Aggressive Monetary Policy

February 23, 2024February 23, 2024 Constance

Zambia’s kwacha has emerged as the top-performing African currency against the U.S. dollar in 2024, with a remarkable surge of 13.8% to 22.8, according to LSEG data. This surge is attributed to the central bank’s aggressive monetary policy tightening, which included measures such as raising commercial banks’ reserve ratios and increasing interest rates to counter the currency’s decline and rising inflation. Analysts highlight the importance of sustaining the kwacha’s strengthening by attracting more foreign investment. Zambian officials acknowledge that prolonged debt restructuring and declining copper production have hindered foreign investment… Read More Here

Mining in Zambia Copper Economy

Zambia’s Govt to Finalize Handover of Mopani and Konkola Copper Mines to new Investors

February 23, 2024February 23, 2024 Constance

The Zambian government has announced its plans to finalize the handover of Mopani Copper Mines to a new investor by the end of February 2024. Additionally, Finance and National Planning Minister Situmbeko Musokotwane revealed that only one step remains for Konkola Copper Mines to be returned to Vedanta, after which production will resume. Dr. Musokotwane emphasized that once these processes are completed, both mining giants will resume production, bringing economic revival to the Copperbelt region and the entire country. He highlighted that even before production restarts, investors are already sending… Read More Here

Mining in Zambia Copper Mining Personality

FQM Implements Leadership Changes to Address Challenges in Zambian’s Operations

February 23, 2024February 23, 2024 Constance

First Quantum Minerals Ltd (FQM) is undergoing a significant restructuring of its top-tier personnel at its Zambian operations to address production and safety issues, according to an internal memo obtained by Reuters. The company’s decision comes amid ongoing challenges, including the recent closure order of its flagship Panama mine, which has led to a significant decline in market value since public protests against the Cobre Panama project began in October. In an email sent by chief operating officer Rudi Badenhorst to Kansanshi mine employees, it was acknowledged that the Zambian… Read More Here

Mining in Zambia Copper

FQM inks $500 million copper deal with Jiangxi amid Panama mine struggles

February 21, 2024February 21, 2024 Constance

First Quantum Minerals (TSX: FM) said on Wednesday it would get a $500-million shot in the arm from Jiangxi Copper, the Canadian miner’s largest shareholder, that will help it to shore up finances. The three-year, prepay arrangement with Jiangxi will see First Quantum deliver 50,000 tonnes of copper anode per year to the Chinese miner. The material will be extracted at the Kansanshi mine in Zambia and is payable at market prices, the company said. “This arrangement is a reminder of the strategic nature of copper as supply challenges abound… Read More Here