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Category: Mining in Zambia

FQM REPORTS 13% RISE IN COPPER PRODUCTION FOR Q3  1 Mining in Zambia Copper Economy 

FQM REPORTS 13% RISE IN COPPER PRODUCTION FOR Q3 

Constance
First Quantum Minerals (FQM) has reported a 13 percent increase in copper production for the third quarter of this year, accompanied by a doubling of income tax payments globally. Production at the company’s Kansanshi mine in Solwezi rose to 49,810 tonnes of copper up 20 percent or 8,303 tonnes compared with the previous quarter, while its Sentinel mine in Kalumbila produced 58,412 tonnes, up 9 percent or 4,817 tonnes compared with the second quarter of 2024. “While it is pleasing to see continued strong operational performance from the Zambian operations… Read More Here
Zambia Backs Geological and Minerals Development Bill 2024 2 Mining in Zambia Copper 

Zambia Backs Geological and Minerals Development Bill 2024

Constance
The Government of Zambia, through the Ministry of Mines and Minerals Development, and the Zambia Chamber of Mines have expressed their support for the Geological and Minerals Development Bill 2024. This announcement follows a high-level stakeholder engagement meeting held last week. The event, organized under the Public Private Dialogue Forum (PPDF), brought together representatives from the Chamber of Mines, the Mine Suppliers Association, civil society organizations, chambers of commerce, multilateral organizations, the diplomatic community, and policy think tanks to review and discuss the Bill. Both the Ministry and the Chamber… Read More Here
Tanzania to Establish Power Grid Connection with Zambia to Alleviate Drought-Induced Power Shortages 3 Mining in Zambia Electricity 

Tanzania to Establish Power Grid Connection with Zambia to Alleviate Drought-Induced Power Shortages

Constance
Tanzania is advancing plans to establish a power grid connection with Zambia to help address Zambia’s drought-related power shortages, announced Deputy Prime Minister Doto Biteko at the Singapore International Energy Week. “We have interconnectors with our neighbors—Rwanda, Burundi, and Kenya—and now we are establishing an interconnector with Zambia to assist our neighbor during this severe drought,” said Biteko, who also serves as the Minister of Energy. As a member of the Eastern African Power Pool, Tanzania has access to a broader market, allowing it to sell surplus electricity to neighboring… Read More Here
Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements 4 Mining in Zambia Angola Mining in DRC Transport and Logistics 

Africa Finance Corporation Advances Zambia-Lobito Rail Project with Concession Agreements

Constance
The Africa Finance Corporation (AFC) has significantly advanced the Zambia Lobito Rail project by entering into concession agreements with the governments of Angola and Zambia. This ceremonial signing took place on the sidelines of the 79th session of the United Nations General Assembly (UNGA 79) with the participation of U.S. Secretary of State Antony J. Blinken and the Biden Administration’s G-7 Partnership for Global Infrastructure and Investment (PGI). The agreements empower the AFC to take the lead in funding, constructing, owning, and operating this vital infrastructure project aimed at enhancing… Read More Here
ERB Confirms Zambia's Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts 5 Mining in Zambia Oil & Gas Petroleum 

ERB Confirms Zambia’s Fuel Stocks Are Sufficient Amid Nationwide Distribution Efforts

Constance
The Energy Regulation Board (ERB) has assured that Zambia currently holds sufficient petroleum stock levels, addressing recent fuel shortages experienced in parts of the country. According to ERB, logistical issues related to cross-border fuel transportation have been the primary cause of these localized shortages. To mitigate this, the ERB has temporarily eased movement restrictions on Petroleum Road Tank Vehicles to facilitate more efficient fuel deliveries and reduce supply gaps. ERB Director General, Elijah Sichone, reported that the nation has 35.8 million liters of diesel and 8.9 million liters of petrol… Read More Here
FQM in Talks for Potential Partnerships on Zambian Assets 6 Copper Mining in Zambia Nickel 

FQM in Talks for Potential Partnerships on Zambian Assets

Constance
First Quantum Minerals, the Canadian mining company, is in discussions with potential partners regarding its Zambian copper and nickel assets, though it has not disclosed the names of the firms involved. Last week, Reuters reported that Saudi Arabia’s Manara Minerals was nearing a deal to acquire a minority stake in these Zambian assets, citing sources familiar with the matter. “We are open to partnerships, including in Zambia, but only if it benefits our Zambian operations, the government, and all stakeholders,” First Quantum CEO Tristan Pascall said during a conference call… Read More Here
Zambia Aims for Major Copper Output Boost Through Investor Partnerships 7 Mining in Zambia Economy 

Zambia Aims for Major Copper Output Boost Through Investor Partnerships

Constance
Zambia is set to enhance its copper output by developing numerous mining licenses in collaboration with investors. The country aims to more than quadruple its production by the early next decade, a goal that will require significant financial investment to advance early-stage projects into operational mines. In an interview, Jito Kayumba, special assistant for finance and investment to President Hakainde Hichilema, stated that over 40 permits reserved by the Mines Ministry will be transferred to a state-owned company. This entity will negotiate partnerships with private investors, maintaining significant minority, non-operational… Read More Here
Konkola Copper Mines Reports Second Fatality at Nchanga Mine 8 Mining in Zambia Copper Mining safety 

Konkola Copper Mines Reports Second Fatality at Nchanga Mine

Constance
CHINGOLA, 21 October 2024: Konkola Copper Mines Plc (KCM) deeply regrets to announce a second fatality at its Nchanga mine. Mr. Stephen Daka, a 38-year-old dump truck driver employed by GRN Mining Contractor, tragically lost his life at the Chingola Open Pit (COP, F&D) operations on Monday, 21 October 2024, around 13:00 hours. Mr. Daka’s body was discovered by the mine’s investigation team a few meters from the dump truck he had been operating. The circumstances leading to the accident are currently under investigation. KCM’s management has expressed its heartfelt… Read More Here
Copper Prices Projected to Rise as DRC and Zambia Prepare for Increased Production 9 Mining in DRC Copper Mining in Zambia 

Copper Prices Projected to Rise as DRC and Zambia Prepare for Increased Production

Constance
Copper prices are anticipated to average around US$10,265 per tonne in the final quarter of 2024, according to estimates from Fastmarkets. Analysts at Reuters, a commodity price intelligence firm, suggest that positive economic outlooks in the United States and China will contribute to upward pressure on copper prices. Goldman Sachs has also predicted a gradual increase in copper prices in the coming months. The American bank projects that the price of copper will reach US$10,100 per tonne by 2025. This price rise is expected to enhance the revenues of copper… Read More Here
ZEMA Approves 116 Projects Worth $1.91 Billion to Boost Zambia's Development 10 Mining in Zambia 

ZEMA Approves 116 Projects Worth $1.91 Billion to Boost Zambia’s Development

Constance
The Zambia Environmental Management Agency (ZEMA) has approved 116 projects with a total investment value of approximately $1.91 billion during its ninth sitting in September 2024. Out of 121 projects considered, this approval signifies a substantial boost for Zambia’s development across various sectors. The mining and mineral processing sector led the way with 46 approved projects, reflecting Zambia’s ongoing focus on resource extraction and processing. The manufacturing and processing sector followed closely with 29 approved projects, while the energy sector secured third place with 24 projects. Other sectors, including infrastructure… Read More Here

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