Mining in Zambia - Copperbelt Katanga Mining

UK Drops Corruption Charges Against Eurasian Natural Resources Corp in DRC Mining Case 1

In 2013, the United Kingdom initiated a corruption investigation into a subsidiary of Eurasian Resources Group operating in the Democratic Republic of Congo (DRC). The company in question, Eurasian Natural Resources Corporation (ENRC), was accused of offering bribes to secure mining contracts in the DRC. This is according to an update published on August 24, 2023. and the UK’s Serious Fraud Office has officially concluded its decade-long investigation into ENRC, which is now under the ownership of Eurasian Resources Group. According to the Serious Fraud Office’s recent announcement, the agency… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

Lobito Corridor attracts new companies

September 8, 2023September 8, 2023 Constance

Lobito Atlantic Railway (LAR), the consortium that, in July, won the tender for the concession of railway and logistics services for the Lobito Corridor, stated that it was satisfied with the expressions of interest from the main mining companies located along the route which, Leaving from the Angolan coast, it serves the Democratic Republic of Congo (DRC) and Zambia. “We are very pleased with the various expressions of interest from the main companies in Minas Gerais, which recognize the benefits of this new logistics route made available to them”, reads… Read More Here

Mining Personality Copper Gold Mining in Zambia

Vedanta Explores Chris Griffith as Potential Head of African Base Metals Business

September 6, 2023September 6, 2023 Constance

Vedanta Resources is considering appointing former Gold Fields boss and Anglo American executive Chris Griffith as head of its African base metals business, according to people familiar with the matter. Indian billionaire Anil Agarwal’s Vedanta owns zinc mines in South Africa and neighboring Namibia, which will form the base-metals portfolio with Zambia’s Konkola Copper Mines. Griffith quit as Gold Fields CEO in December after the company’s failed attempt to take over Canada’s Yamana Gold Inc. He previously headed the platinum and iron-ore businesses of Anglo American, in which Agarwal was once the biggest shareholder. Talks are ongoing, and no final decisions have been made by either party on… Read More Here

Mining in Zambia Copper

Zambia’s Mines Minister Announces Vedanta’s Return to Konkola Copper Mines (KCM)

September 6, 2023September 12, 2023 Constance

In a significant development for Zambia’s mining industry, Hon. Paul Kabuswe, the Minister of Mines and Minerals Development, announced on September 5, 2023, that Vedanta Resources will be reinstated to run Konkola Copper Mines (KCM). This announcement marks a pivotal moment in Zambia’s economic revival under the New Dawn government’s leadership, signaling the country’s commitment to sustainable growth and a thriving mining sector. The government aims to place the well-being of the Zambian people at the heart of its initiatives, transforming their livelihoods for the better. Resolving the KCM Impasse… Read More Here

Mining in Zambia Copper

Vedanta Resources’ Pledge to Revitalize Konkola Copper Mines in Zambia

September 5, 2023September 5, 2023 Constance

In a momentous announcement, Mr. Pushpender Singla, Executive Director and Chief Financial Officer of Vedanta Zinc International South Africa, expressed Vedanta Resources Limited’s unwavering commitment to Zambia through its subsidiary, Konkola Copper Mines (KCM). He made this announcement at the Mulungushi International Conference Centre on September 4th, 2023. The occasion marked a significant milestone in Vedanta’s operations in Zambia and signaled their ambitious vision for KCM’s future. Reaffirming their dedication to KCM, Mr. Singla emphasized Vedanta’s intention to run the company boldly and embark on a journey to recapitalize this… Read More Here

Copper Mining in Zambia Mining revenue

Mopani Copper Mines Reports Declining Output and Deeper Losses

September 5, 2023September 5, 2023 Constance

In the first half of this year, Mopani Copper Mines witnessed a significant drop in production, leading to increased financial losses for the operation, which was acquired from Glencore in 2021. According to a statement by the parent company, ZCCM-IH, Mopani’s losses in the six months through June escalated to $196 million, in contrast to $120 million during the corresponding period in the previous year. This deterioration in financial performance can be attributed to both a reduction in output and escalating operational costs. Copper production during this period dwindled to… Read More Here

Mining in DRC Battery Metals Cobalt Copper Mining in Zambia Transport and Logistics

Trafigura-Led Lobito Rail Upgrade Awaits Its First Users

September 5, 2023September 5, 2023 Constance

African metal producers are reluctant to make long-term commitments to use a railway a Trafigura-led consortium plans to upgrade, four sources with knowledge of the matter said. Known as Lobito Atlantic Railway, the consortium pitched the overhaul of the line, historically known as the Benguela Railway, that links resource-rich Democratic Republic of Congo (DRC) to the port of Lobito in Angola to bypass road congestion and avoid long delays on the copper and cobalt route. So far only Ivanhoe Mines is known to have signed a non-binding agreement to use the Lobito railway… Read More Here

Mining in Zambia Oil & Gas Petroleum

Zambia Raises Petrol and Diesel Prices Amidst Oil Price Surge

September 1, 2023September 1, 2023 Constance

The Zambia Energy Regulation Board (ERB) has implemented a significant increase in the prices of petrol and diesel, marking an average surge of 3 Kwacha 68 Ngwee. As a result, the cost of a liter of petrol will experience an uptick to 29 Kwacha 42 Ngwee from its previous price of 25 Kwacha 55 Ngwee, reflecting an increase of 3 Kwacha 85 Ngwee. Similarly, diesel prices will witness a rise of 3 Kwacha 52 Ngwee, leading to a new cost of 26 Kwacha 88 Ngwee per liter, up from 23… Read More Here

Mining in DRC Angola Battery Metals Exploration Mining in Zambia Partnership

Japan Expands Critical Mineral Exploration Partnerships in Africa to Diversify Supply Chain

August 30, 2023August 30, 2023 Constance

In a strategic effort to reduce dependency on China for crucial minerals essential in high-tech industries, Japan has inked agreements with five African nations. The agreements were signed to facilitate the exploration and extraction of critical minerals like rare earths, cobalt, lithium, and nickel, aiding Japan’s drive to secure its supply chain. Minister of Economy, Trade and Industry Yasutoshi Nishimura, accompanied by Ichiro Takahara, Chairman and CEO of Japan’s state-owned Organization for Metals and Energy Security, embarked on a week-long journey to Namibia, the Democratic Republic of the Congo (DRC),… Read More Here