Mining in Zambia - Copperbelt Katanga Mining

Over $15 million lost over closure of Kasenseli gold mine

July 13, 2023July 13, 2023 Constance

Zambia is losing over $10 million per annum in forex due to lost production hours and revenues following the indefinite closure of the Kasenseli gold mine in Mwinilunga, North Western Province. Revelations indicate that during the first full year of the mine’s operation (from approximately June 2020 to October 2021), it produced a total of about 143 kilograms of gold worth over $10 million. However, it has been over 18 months since the government suspended operations at the gold mine, and no definite decision regarding its reopening or the way… Read More Here

Mining in Zambia Economy

Zambia’s bondholders advance $3B debt-restructuring talks

July 12, 2023July 12, 2023 Constance

Zambia’s overseas bondholders have entered into non-disclosure agreements (NDA) with the government as of Wednesday July 12th, according to three sources, a key step marking the beginning of formal talks to restructure over $3 billion of international bonds. The government is expected to share with some of its biggest international bondholders – members of the creditor committee – detailed information that will form the basis of debt restructuring talks as early as Wednesday, said the sources with direct knowledge, who asked not to be identified because talks are private. The… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

Lobito Atlantic Railway Assumes Operatorship of Lobito Corridor

July 11, 2023July 11, 2023 Constance

The Municipal Administration of Lobito has officially handed over the concession of railway and logistics services of the Lobito Corridor to the Lobito Atlantic Railway, a joint venture comprising commodity company Trafigura; international construction and infrastructure firm Mota-Engil; and independent rail operator Vecturis. The transfer of the concession will see Lobito Atlantic Railway lead the operation, management and maintenance of a 1,300km railway connecting the Lobito port to Luau in eastern Angola over a period of 30 years. The railway will extend an additional 400km, running through the Democratic Republic… Read More Here

Mining in Zambia Precious Stones Rare Earth Minerals

Sugilite: A Captivating Gemstone with Unique Properties

July 10, 2023July 10, 2023 Constance

Sugilite is a rare pink to purple mineral discovered by Ken-ichi Sugi, a Japanese petrologist, in Japan in 1944. This cyclosilicate gemstone, known for its vivid purple color and rarity, has garnered immense interest among gem enthusiasts and collectors. Its distinct properties set it apart from other gemstones, such as amethyst, despite their similar appearances. When comparing sugilite and amethyst, one notable difference lies in their color variation. While both gemstones feature purple hues, sugilite tends to showcase a broader range of shades, including vibrant pinks and deeper purples. Amethyst,… Read More Here

Mining in DRC Corporate News Mining in Zambia

Barrick CEO wants to search for more copper in Zambia and Congo

July 8, 2023July 8, 2023 arnbethnic

Barrick Gold (ABX.TO) is keen to explore for more copper deposits in Zambia and Democratic Republic of Congo as the miner seeks to expand its presence on the African copperbelt, its CEO said on Friday. The world’s No. 2 gold miner wants to explore for deposits of the metal in southern parts of Congo, while expanding and extending the life of its Lumwana mine in Zambia, CEO Mark Bristow said. “We are looking at exploration opportunities across the country just as we are looking for exploration opportunities in southern Congo,” Bristow said… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

The Benguela Railway: A Testimony of Friendship and Development

July 7, 2023July 7, 2023 Constance

In an extraordinary feat of engineering, the Benguela Railway in Angola stands as a testament to the power of collaboration and the determination to overcome monumental challenges. As the final piece of the east-west transcontinental link that connects the Indian and Atlantic oceans, this remarkable project, built by the China Railway 20 Bureau Group Corporation (CR20), has revolutionized regional connectivity and transformed the African rail network. With its immense socio-economic impact, the Benguela Railway is more than just a transportation artery; it symbolizes the enduring friendship between the peoples of… Read More Here

Mining in Zambia Copper Gold

Great Future Beckons for Lumwana as Barrick Unlocks Potential

July 7, 2023July 8, 2023 Constance

Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Barrick’s drive to transform the Lumwana copper mine into a Tier One1 asset with a life extending beyond 2060 is picking up speed with a strong performance in the past quarter adding impetus to its continuing production ramp-up. Briefing media at a site visit here today July 7th, Barrick president and chief executive Mark Bristow said the mine’s full potential was only now being revealed. Additional expansion opportunities, identified through an updated geological model, are currently being assessed, while drilling at the Kababisa prospect highlights potential… Read More Here

Mining in Zambia Copper Exploration Technology & Innovation

KoBold Metals’ Strategic Investment in Zambia Paves the Way for Sustainable Critical-Mineral Supply Chains

July 7, 2023July 7, 2023 Constance

In a significant move towards building transparent, secure, and sustainable critical-mineral supply chains, KoBold Metals has emerged as a key player in catalyzing investments in strategic projects. The United States Ambassador to Zambia, His Excellency Michael Gonzales, commended KoBold’s efforts and emphasized the pivotal role such initiatives play in driving the energy transition and fostering a sustainable, climate-smart economy for the 21st century. With a commitment to leveraging the world’s best artificial intelligence and human intelligence, KoBold President Josh Goldman expressed enthusiasm about the company’s ability to accelerate progress in… Read More Here

Mining in Zambia Copper

Zambia’s Mines minister close to finalizing deal with Vedanta Resources

July 7, 2023July 7, 2023 Constance

Zambia is close to resolving a dispute with Vedanta Resources (VEDJB.UL) over its Konkola Copper Mines, with a deal over the future of the partly state-owned unit “imminent”, its mines minister said. KCM has battled to attract investment since relations between Zambia and Vedanta broke down several years ago, culminating in the state’s take-over of the KCM assets and forced liquidation in May 2019. The move triggering protracted legal battles, with Vedanta approaching an arbitration court in London to fight off the seizure of the copper assets. “The negotiations are… Read More Here

Mining in Zambia Artisanal mining

Zambia’s Former Minister Dismissed for Unauthorized Sugilite Mining

July 6, 2023July 6, 2023 Constance

President Hakainde Hichilema took decisive action on Wednesday, July 5th, by dismissing Derrick Chilundika, the former minister of Luapula Province, for engaging in unauthorized mining activities involving sugilite, a valuable newly discovered mineral in the country. State House in Lusaka, issued a statement announcing Chilundika’s dismissal. Although the statement did not specify the reason for his removal, the police quickly followed up with a statement revealing that Chilundika had been conducting mining operations without a valid license. In a statement, Deputy Police Spokesman Danny Mwale said, “Police in Lusaka have… Read More Here