Mining in Zambia - Copperbelt Katanga Mining

Vedanta in advanced stage of deal with Zambia over copper mine

July 21, 2023July 21, 2023 Constance

Vedanta Resources, owned by Indian billionaire Anil Agarwal, said it has reached an “advanced stage” of executing agreements with the Zambian government over Konkola Copper Mines Plc assets that have been in provisional liquidation for about four years. “Vedanta is alive to the fact that the talks have taken a little longer than initially anticipated,” it said in a statement last week. “The company is firmly committed to the process.” The Zambian government placed Konkola, of which Vedanta owns 79.4%, into provisional liquidation in 2019, and since then has been… Read More Here

Mining in Zambia Copper

Zambia’s copper production seen falling to 14-year low

July 21, 2023July 21, 2023 Constance

Zambia’s copper output will fall by more than 10% this year to the lowest in 14 years in what would be a significant blow to the southern African country’s revenue and economic growth. Copper production, which accounts for more than 70% of export earnings, will plunge to 682,431 tons, the Ministry of Finance & National Planning said in a report this week. That would be the lowest level since 2009, and marks the third straight year of declining output after peaking in 2020, even as prices remain elevated for the… Read More Here

Mining in Zambia Electricity Energy

Zambia Electricity and Westland Power Sign Power Purchase Agreement

July 21, 2023July 21, 2023 Constance

Zambia electricity supply (ZESCO)ESCO Limited has signed a Power Purchase Agreement (PPA) with ACSG Westland Power Company Limited, which will see the latter invest in solar thermal projects across the country. The agreement was signed on 18 July 2023 at a ceremony held at ZESCO Head Office in Lusaka and officiated by the Minister of Energy, Hon. Eng. Peter Chibwe Kapala. ZESCO Managing Director, Eng. Victor Mapani said Zambia’s electricity supply industry needs to be demonopolized to allow many players on the market contribute towards meeting the current power supply… Read More Here

Mining in Zambia

Zambia’s Muntanga Uranium Project Increases Resources to 36.5 Mlb

July 20, 2023July 20, 2023 Constance

Mineral resource company GoviEx Uranium has announced an increase in open-pit mineral resources at the company’s Muntanga uranium mine, located in southern Zambia. Comprising three mining permits, the Muntanga project contains five deposits: Dibbwi, Dibbwi East, Muntanga, Gwabi, and Njame. A 2023 updated Mineral Resource Estimate (MRE) shows constrained total pit resources to measure 36.5 million pounds (Mlb) of uranium, with the quality of the resource considerably higher than previous estimates. Of the total 36.5 Mlb of uranium equivalent, measured and indicated resources are shown to be 34 million tons… Read More Here

Mining in Zambia Copper

Zambia’s Mines Minister Provides Update on Mopani Copper Mine

July 18, 2023July 18, 2023 Constance

In a recent press conference, Zambia’s Mines Minister Paul Kabuswe addressed the media, providing information about the country’s mining sector, particularly the Mopani Copper Mine (Mopani). The minister highlighted Mopani’s ownership structure and the challenges faced since Glencore’s departure, emphasizing the government’s efforts to find a new investor. Furthermore, the minister expressed the government’s intention to close the deal with a new investor by the end of July 2023. This article aims to provide an overview of the minister’s key points and the prospects for Mopani’s future. The Mines Minister… Read More Here

Mining in Zambia Copper Economy Exploration

Zambia’s Copper Sector Poised for Growth with Increased Exploration Investment

July 18, 2023July 18, 2023 Constance

Zambia, a landlocked nation in Southern Africa, is renowned for its significant copper production. Ranking 7th globally and 2nd in Africa after the Democratic Republic of Congo, Zambia’s mining sector has immense potential for growth. Recent changes in the mining industry, particularly increased investment in exploration, are expected to propel Zambia’s copper industry to higher global rankings. In this article, we explore the exciting prospects that lie ahead for Zambia and the role of exploration in unlocking its copper resources. Zambia’s abundant copper reserves have established it as a prominent… Read More Here

Mining in Zambia Economy

Zambia’s Economy to Grow Slower Than Expected in 2023

July 18, 2023July 18, 2023 Constance

According to a budget plan presented by Zambia’s Ministry of Finance on Sunday July 17th, the Zambian economy is projected to grow by just 2.7% in 2023, down from 4.7% in 2022, as contractions in the mining and energy sectors restrain development. After becoming the first country in Africa to default on its sovereign debt in 2020, Zambia and the International Monetary Fund (IMF) have now finalized a long-delayed debt restructuring plan. According to research from the IMF, this will save the southern African nation $7.65 billion by 2026. According… Read More Here

Mining in Zambia Rare Earth Minerals

Zambia’s Minister of Mines Sheds Light on Sugilite Discovery in Luapula Province

July 18, 2023July 18, 2023 Constance

Zambia’s Minister of Mines, Hon Paul Kubuswe, addressed the media on Friday, July 14th, to provide insights into the recent discovery of the precious gemstone, Sugilite, in Luapula Province. The Minister highlighted the significance of this finding and the government’s commitment to responsible and sustainable management of this valuable mineral resource. Sugilite has been found in two locations in Mansa, and the Ministry of Mines is developing a comprehensive strategy to explore and exploit this gemstone, aiming to maximize benefits for Zambian citizens. He said, “Under the leadership of President… Read More Here

Mining in Zambia Cobalt Copper Mining tax

Anglo American joins efforts to create sustainable mining taxation solutions

July 17, 2023July 17, 2023 Constance

Anglo American joined representatives of government, civil society and other stakeholders in the mining sector at a global conference in Lusaka to discuss the future of resource taxation, as part of the launch of a new guide on the subject by the Inter-governmental Forum (IGF) on Mining. Those attending were seeking to find effective solutions to promote transparency and sustainable development in the mining sector. The conference was officially opened by the Minister of Finance and National Planning Dr Situmbeko Musokotwane, who expressed confidence in the three-day event’s potential to facilitate constructive… Read More Here

Angola Mining in DRC Mining in Zambia Transport and Logistics

Angola, Zambia, and DRC to Export Minerals via Lobito Rail Corridor

July 17, 2023July 17, 2023 Constance

Minerals from the DRC and Zambia will now be exported via Angola’s Lobito rail corridor. Presidents Félix Tshisekedi (DRC), Hakainde Hichilema (Zambia) and João Lourenço (Angola) chaired the signing ceremony of an agreement for this purpose on Tuesday July 4th. “The full operationalization of this corridor will allow the opening up of the mines of Zambia and the DRC, as well as the access and the circulation of inputs essential to both the mining and agricultural industries”, indicated President Félix Antoine. Tshisekedi. The three Heads of State have conceded the operation… Read More Here