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Category: Mining in Zambia

FQM UNVEILS SOLWEZI’S NEWEST BEACON FOR EDUCATION AND SPIRITUAL DEVELOPMENT   1 Mining in Zambia Corporate social responsibility Environment Social Governance (ESG) 

FQM UNVEILS SOLWEZI’S NEWEST BEACON FOR EDUCATION AND SPIRITUAL DEVELOPMENT  

arnbethnic
SOLWEZI, ZAMBIA – First Quantum Minerals has handed over the newly built ultra-modern Philip Pascall Chapel and Theatre (PPCT) to Trident College, one of three Kansanshi Mining-supported schools in Solwezi. The multi-million-dollar facility, which acts as a chapel, conference hall and arts centre, took a total of 13 months to complete. Part of its purpose is to serve as a meeting centre for the college but also for the wider community of Solwezi.  The handover ceremony was graced on behalf of Her Honour, the Republican Vice President by the Minister of Commerce, Trade and… Read More Here
Zambia's 2023 Budget: A return to global norms 2 Mining in Zambia Economy 

Zambia’s 2023 Budget: A return to global norms

Copperbelt Katanga News
Tax Partner at KPMG Zambia, Michael Phiri, unpacks the Budget measures designed to set in motion a mining-led economic recovery The dust has now settled since the announcement of the 2023 National Budget, during which the Minister of Finance set out the Government’s plan to revive Zambia’s economy. In this, the first in a series of exclusive interviews with financial, economic, and mining experts, Michael Phiri, Tax Partner at KPMG Zambia, sheds light on why certain Budget measures have been proposed, and how they will set in motion a mining-led economic recovery.… Read More Here
Zambia restricts number of mining licences per company to five 3 Mining in Zambia Governance Mining Policy 

Zambia restricts number of mining licences per company to five

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Zambia, Africa’s second-largest copper producer, said on Monday the number of mining licences that a company can hold at a time will be restricted to five to curb speculative purchases within the country’s licensing system. The ministry of mines in February suspended the issuance of mining licences and commissioned an audit in response to public complaints about a lack of transparency. “Every miner will be restricted to five licences and those that need more will have to justify it,” Zambia’s mines minister Paul Kabuswe said during a briefing on mining… Read More Here
Nchanga KCM Open Pit Mining in Zambia Copper 

KCM financial advisor RMB commences its works

arnbethnic
Further to the announcement of 28th September 2022, in relation to the appointment of Rand Merchant Bank (RMB) as financial advisor to Konkola Copper Mines plc (KCM), the Company is pleased to inform stakeholders that RMB has commenced preliminary works at KM leading to the search for a provider of long-term finance.RMB has been appointed through the Government’s efforts to secure medium to long term funding for KCM.The RMB team is currently collecting information and data at KM and conducting meetings with Management to enable the team to commence the… Read More Here
Zambia’s major mining & energy stakeholders to meet in the Copperbelt at the 10th Anniversary of ZIMEC 4 Events & Expos Mining in Zambia 

Zambia’s major mining & energy stakeholders to meet in the Copperbelt at the 10th Anniversary of ZIMEC

arnbethnic
Kitwe, Zambia – Less than One Month Left to The 10th Zambia International Mining and Energy Conference & Exhibition (ZIMEC 2022). Discover a sustainable and mutually beneficial fiscal framework empowering Zambia’s Mining and Energy sectors at the 10th edition of Zambia International Mining and Energy Conference and Exhibition (ZIMEC 2022) taking place on 1-3 November 2022 at the Garden Court Hotel in Kitwe. The event is supported by the Ministry of Mines and Mineral Development and the Ministry of Energy. Zambia aims to increase its copper production to 3 million tons per… Read More Here
GoviEx Uranium doubles financing on strong investor demand 5 Uranium International Mining in Zambia 

GoviEx Uranium doubles financing on strong investor demand

admin
Due to strong investor demand, GoviEx Uranium (TSXV: GXU) has revised its agreement with Sprott Capital Partners to increase the size of the recently announced bought deal financing from C$5 million to C$10 million. Sprott, on behalf of a syndicate of underwriters, will now purchase 45.5 million units of the company at a price of C$0.22 per unit. Each unit issued under the offering will consist of one Class A common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at the US dollar equivalent price… Read More Here
Sibanye interested in Zambia's Mopani Copper Mines – Froneman 6 Copper Mining in Zambia 

Sibanye interested in Zambia’s Mopani Copper Mines – Froneman

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Sibanye-Stillwater has expressed an interest in Zambia’s Mopani Copper Mines, the mine and smelter complex looking for new investors after Glencore sold the asset to the state in January last year, CEO Neal Froneman said on Wednesday. Froneman said Sibanye had registered an interest around a year ago, and that “we remain interested”. Zambia’s state mining firm ZCCM-IH hired Rothschild in June to help find a new investor to upgrade and expand it. “We like Zambia, we like what the new president is doing there,” Froneman said. Sibanye, which mainly produces platinum group metals and gold, has expanded into… Read More Here
Accredited local support underpins Grindex Pumps in Zambia 7 Equipment & Technology Mining in Zambia Mining technology 

Accredited local support underpins Grindex Pumps in Zambia

admin
Local Zambian company IES says it has made rapid progress this year as Integrated Pump Technology’s distributor in that region, raising the service bar and expanding the footprint of the Grindex brand of submersible pumps. Now operating its own authorised Grindex service centre and holding considerable stock to meet customer demand, IES is adding local value to the established Grindex reputation, says Integrated Pump Technology General Manager Jordan Marsh. The Zambian Copperbelt has some of the wettest mines in the world, making dewatering a critical function on most mines. This… Read More Here
Gemfields anticipates more than 50% increase in net profit 8 Gemstones Emeralds Mining in Zambia 

Gemfields anticipates more than 50% increase in net profit

Copperbelt Katanga News,
Gemfields believes it is reasonably certain that its net profit after tax will be US$56.7 million for the six months ending 30 June 2022, comparative to a six-month period of US$23.8 million. Gemfields’ two key operating assets, MRM and Kagem, generated revenues of US$95.6 million and US$85.2 million respectively during the six-month period to 30 June 2021. 2022 saw the group return to its normal auction schedule of two emerald auctions and one ruby auction in the first half of the year. Following on from the strong auction results in… Read More Here
Zambia plans mine-tax concessions while trimming budget deficit 9 Mining in Zambia Copper 

Zambia plans mine-tax concessions while trimming budget deficit

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Zambia plans to reduce its budget deficit next year, even as it makes further cuts to copper mining royalties, Finance Minister Situmbeko Musokotwane said. The spending shortfall will shrink to 7.7% of gross domestic product in 2023, from a revised 9.8% forecast for this year, Musokotwane told lawmakers Friday in Lusaka, the capital. Restructuring the royalty system in Africa’s second-biggest copper producer will cost the government 2.8 billion kwacha ($178 million) in lost revenue next year, he said. First Quantum Minerals Ltd., which accounts for more than half of Zambia’s… Read More Here

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