Mining in Zambia - Copperbelt Katanga Mining

Standard Bank’s Strategic Investment Focus on the DRC and Zambia

October 30, 2023October 30, 2023 Constance

Standard Bank, a prominent South African financial institution, is setting its sights on the Democratic Republic of Congo (DRC) as a significant investment destination due to the country’s ownership of critical minerals for the energy transition, according to reports by News24. Kenny Fihla, the CEO of Standard Bank’s corporate and investment banking (CIB) unit, emphasized that their interest goes beyond renewable energy projects. It extends to the sources of minerals essential for driving the global energy transition. Fihla noted, “It’s not just about renewable energy projects; it’s about where the… Read More Here

Mining in Zambia Exploration

Arc Minerals Completes a JV Agreement with Anglo American and Starts Exploration in Zambia

October 29, 2023October 29, 2023 arnbethnic

Arc Minerals is pleased to announce that the substantive regulatory conditions precedent with regards to its Joint Venture Agreement with a subsidiary of Anglo American plc (“Anglo American”) as previously announced (the “JVA”) have been satisfied. Arc further announces that the parties have completed the subscription of shares in the joint venture company resulting in a 70% interest having been acquired by Anglo American and a 30% interest having been acquired by Unico Minerals Ltd, a 67% subsidiary of Arc Minerals Ltd. In addition, Arc is pleased to confirm that… Read More Here

Mining in Zambia New Mining Projects

Sibanye-Stillwater, Navigating Challenges in Mopani Copper Bid Amid PGM Market Pressures

October 29, 2023October 29, 2023 arnbethnic

Sibanye-Stillwater has affirmed its ongoing negotiations with the Zambian government for the acquisition of Mopani Copper, despite competition from Abu Dhabi’s International Holding Company (IHC), as reported by the Financial Times. IHC, the largest listed company in the United Arab Emirates, has entered the bidding for Mopani and is pledging to preserve jobs, in contrast to Sibanye-Stillwater’s proposal, which includes job cuts. Earlier this month, Sibanye-Stillwater stated that it would not engage in a bidding war for new assets. Shareholders are unlikely to support additional costs for the company, especially… Read More Here

Mining in Zambia Copper Press Release

FQM MAINTAINS PRODUCTION GROWTH IN Q3

October 27, 2023October 27, 2023 Constance

First Quantum Minerals maintained its trend of increasing production in the third quarter of 2023, propelled by the mining firm’s execution of new agreements with the Zambian government in the previous year.During the quarter, FQM marked a significant milestone by making its first concentrate sale from the newly established Enterprise nickel mine in Kalumbila. Additionally, the company continued to advance steadily with the S3 expansion project at its Kansanshi mine in Solwezi.This performance was also a result of mining fleet deployment changes, allowing for the opening up of new mining… Read More Here

Mining in DRC Angola Battery Metals Mining in Zambia Partnership Transport and Logistics

EU Signs Crucial Partnerships with DRC and Zambia for Sustainable Raw Materials Value Chains

October 27, 2023October 27, 2023 Constance

At the recent “Global Gateway” forum in Brussels, Jutta Urpilainen, the European Union’s Commissioner for international partnerships, signed significant memoranda of understanding with key African counterparts. On October 26, 2023, she joined hands with the Democratic Republic of Congo’s Minister of Transport, Marc Ekila Likombo, for a partnership on critical and strategic raw materials value chains. Furthermore, a strategic partnership on sustainable raw materials value chains was established with Zambia’s Minister of Finance, Situmbeko Musokotwane. This momentous event follows the G20 Summit in New Delhi, India, in September 2023, where… Read More Here

Mining in Zambia Copper Corporate News

ZCCM-IH Delivers 436 Million Kwacha Dividend to IDC Amidst Resilient Performance

October 27, 2023October 27, 2023 Constance

ZCCM-IH, under the leadership of Chairperson Kakenenwa Muyangwa, demonstrated its financial strength and resilience by delivering a substantial dividend totaling over 436 million Kwacha. This dividend reflects the company’s performance over the financial years 2021 and 2022, even in the face of a challenging business environment in the past three years. Despite these challenges, ZCCM-IH exhibited robust growth. The group’s revenue soared from 174 million Kwacha in 2020 to an impressive 11.9 billion Kwacha in 2022. A significant contributor to this remarkable surge was the strategic acquisition of Mopani Copper… Read More Here

Copper Mining in Zambia

First Quantum Adjusts Production Guidance for Key Mines

October 25, 2023October 25, 2023 Constance

First Quantum, a Canadian-headquartered mining company, has revised its copper production guidance for the year due to the performance of its three primary mines: Cobre Panamá, Kansanshi, and Sentinel. The new copper production guidance is set between 745,000 t and 775,000 t, down from the previous estimate of 770,000 t to 840,000 t. Despite improved production in the third quarter, the lower guidance is based on year-to-date performance. Copper production increased by 18% to 221,550 t in Q3, with copper C1 cash costs dropping by $0.56/lb from the second quarter… Read More Here

Mining in Zambia Copper

FQM Advances Option Agreement with African Pioneer Zambia Ltd in Namibia

October 25, 2023October 25, 2023 Constance

Namibia-focused exploration and development company, African Pioneer Zambia Ltd, provided updates regarding its option agreement with First Quantum Minerals Ltd, an 80% owned subsidiary of African Pioneer Zambia Ltd. An addendum to the original agreement, announced in January, was agreed upon on October 20. First Quantum Minerals exercised their option over two out of four licenses subject to the agreement, initiating a two-year earn-in period. Due to the progress made and expenses incurred so far, First Quantum has been granted an additional six months until January 17, 2024, to spend… Read More Here

Mining in Zambia Copper

Zambia Secures $15 Billion from China for Africa’s Largest Copper Smelting Plant

October 25, 2023October 29, 2023 Constance

Zambia’s government has successfully obtained $15 billion in funding from China to establish a monumental Copper Smelting Plant in the Kabompo district of the North Western Province. This ambitious project, set to become the largest of its kind in Africa, is a joint venture between the Zambia National Service (ZNS) and a Chinese investor. During an interactive forum with Kabompo District residents, ZNS Commander Lieutenant General Maliti Solochi announced the commencement of this remarkable endeavor by the end of the year. Notably, this project will be accompanied by a substantial… Read More Here

Mining in Zambia Economy News in Brief

Tanzanian President Commends Zambia’s Economic Progress

October 25, 2023October 25, 2023 Constance

Tanzanian President Samia Suluhu Hassan has praised Zambia for its significant economic advancements achieved in the past two years under President Hakainde Hichilema’s leadership. President Samia emphasized the need for both countries to strengthen their diplomatic, business, and people-to-people relationships for mutual benefits. During a State banquet ahead of Zambia’s 59th Independence Day, President Samia highlighted the positive impact of shared economic corridors on fostering closer relations and business connections between the two nations. President Hichilema reaffirmed Zambia’s commitment to enhancing the partnership with Tanzania and continuing the legacy of… Read More Here