Mining in Zambia - Copperbelt Katanga Mining

Jubilee Metals Increases Stake in Zambia's Project G and Secures Renewable Energy Supply 1

Diversified metals producer Jubilee Metals has completed its due diligence on Project G, an open-pit copper mining operation in Zambia, and has decided to increase its ownership from 51% to 65%. This acquisition, initially announced in August, marks Jubilee’s second open-pit copper venture in Zambia, following the implementation of Project Munkoyo. In a related move, Jubilee has expanded its power allocation under the recently announced private power purchase agreement (LHPC agreement), securing an additional 2 MW of electricity. This will ensure that all Zambian operations, including the Roan concentrator, operate… Read More Here

Mining in Zambia Infrastructural Development

Zambia Secures $50 Million from BADEA for Kalabo-Sikongo-Angola Border Road Project

October 7, 2024October 7, 2024 Constance

Zambia has signed a cooperation agreement with the Arab Bank for Economic Development in Africa (BADEA), securing a $50 million investment for the construction of the Kalabo-Sikongo-Angola Border Road in Western Province. The agreement was formalized in Riyadh, Saudi Arabia, by Zambia’s Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, and BADEA President, Dr. Sidi Ould Tah. Alongside the road project, a $500,000 capacity-building initiative was also agreed upon to support the training of public officials in finance, trade, and energy development. During the signing ceremony, Dr. Musokotwane emphasized… Read More Here

Mining in Zambia Infrastructural Development

Lusaka-Ndola Dual Carriageway Project Advances

October 7, 2024October 7, 2024 Constance

The National Road Fund Agency (NRFA) and the Road Development Agency (RDA) have announced significant progress on the Lusaka-Ndola Dual Carriageway Public-Private Partnership (PPP) project. The handover of three toll gates to the Macro Ocean Investment Consortium (MOIC) is scheduled for November 30, 2024, as part of a broader agreement to upgrade the road to a dual carriageway. The toll gates to be transferred are located at Katuba (between Lusaka and Kabwe), Manyumbi (between Kabwe and Kapiri Mposhi), and Kafulafuta (between Kapiri Mposhi and Ndola). Despite the transition, NRFA Public… Read More Here

Copper Economy Mining in Zambia

Zambia Aims for Copper Production Surge Amid $12 Billion Investment Boom

October 7, 2024October 7, 2024 Constance

Zambia’s Minister of Mines and Minerals Development, Hon. Paul Kabuswe, MP, recently announced that the country’s mining sector has successfully attracted US$12 billion in investments. However, despite this impressive capital influx, the minister raised concerns about stagnant copper production, which has plateaued at 750,000 metric tons. Minister Kabuswe reaffirmed the government’s commitment to significantly increase production, with a target of three million metric tons within a set timeframe. “The mining sector remains the key driver of our country’s economic transformation,” Kabuswe stated, underscoring the sector’s essential role in fostering national… Read More Here

Mining in Zambia Events & Expos

Zambia to Host Landmark Mining and Investment Insaka

October 6, 2024October 6, 2024 Constance

The Zambian government is preparing for the first-ever Zambia Mining and Investment Insaka, scheduled to take place from October 7th to 11th, 2024, in Lusaka. According to Minister of Mines and Minerals Development, Hon. Paul Kabuswe, the event is poised to be one of the largest global mining gatherings. Speaking at a sponsorship cheque handover ceremony, with contributions from key industry players such as Barrick Gold Lumwana, GoviEX, Zambia Industrial Commercial Bank, Collum Coal Mining Industries Ltd., and Sanlam Zambia, Kabuswe highlighted the significance of the Insaka. He noted it… Read More Here

Mining in Zambia Copper Electricity

Kansanshi Mining Reports Strong Financial Results Amid Zambia’s Power Crisis

October 6, 2024October 6, 2024 Constance

Kansanshi Mining, a subsidiary of First Quantum Minerals (FQM), posted impressive financial results for the first half of 2024, driven by higher copper prices and improved ore grades despite ongoing electricity challenges in Zambia. The company recorded a net profit of $117 million, a remarkable recovery from a net loss of $1.1 million during the same period last year. Income tax contributions also surged to $56 million, up from $3.6 million in 2023. Revenue for the half-year increased by 25%, reaching $927 million. This growth was largely due to a… Read More Here

Mining in Zambia Electricity

Zambia’s Energy Minister Addresses Power Deficit and Solutions

October 4, 2024October 4, 2024 Constance

Hon. Makoso Chikote, Zambia’s Minister of Energy, addressed the nation on the ongoing power deficit, expressing gratitude for citizens’ resilience during this challenging period. He acknowledged that September was particularly difficult, with prolonged power rationing affecting numerous households and businesses. The power shortage is primarily due to three factors: reduced power generation at the Kariba North Bank Power Station, caused by water allocation challenges from the Zambezi River Authority; maintenance work at the 300MW Maamba Energy Power Plant; and technical issues with the power interconnector to Namibia. Minister Chikote announced… Read More Here

Mining in Zambia Transport and Logistics

Zambia Signs MoU to Boost Trade Through Lobito Corridor

October 4, 2024October 4, 2024 Constance

The Ministry of Commerce, Trade and Industry (MCTI) has signed a Memorandum of Understanding (MoU) with the National Quality Institutions (NQI) to implement the Lobito Corridor Trade Facilitation Project, supported by an African Development Bank grant of US$8.1 million. This project aims to enhance both domestic and cross-border trade between Zambia, Angola, and the Democratic Republic of Congo (DRC). The NQI comprises key regulatory bodies, including the Zambia Metrology Agency (ZMA), Zambia Bureau of Standards (ZABS), Zambia Compulsory Standards Agency (ZCSA), and the Competition and Consumer Protection Commission (CCPC). These… Read More Here

Mining in Zambia Electricity

ZESCO Enhances Energy Reliability Following Maamba Energy Resumption

October 3, 2024 Constance

ZESCO has announced that it will be able to provide a more reliable and consistent energy supply during the scheduled hours of load shedding starting Wednesday, following the resumption of full operations at Maamba Energy on Tuesday evening. During a media briefing in Lusaka, Transmission Operations and Trade Director Justin Loongo revealed that ZESCO has secured a guaranteed 400 megawatts of power imports during off-peak and standard times. However, he noted that “for peak periods, inputs will depend on availability, and at peak times, all countries want to domesticate power.”… Read More Here

Mining in Zambia Copper Mining Supply Tenders

Metso Secures €70M Contract from Barrick Gold for Lumwana Copper Project Equipment

October 3, 2024October 8, 2024 Constance

Metso has secured a significant contract from Barrick Gold for the supply of essential process equipment at the Lumwana copper project in Zambia. Valued at approximately €70 million ($78.12 million), this order will be recorded in the minerals segment’s third-quarter 2024 intake. Under the terms of the contract, Metso will provide a comprehensive suite of equipment, including systems for grinding, flotation, thickening, feeding, and filtration. Markku Teräsvasara, Metso’s Deputy CEO and President of the Minerals Business Area, expressed gratitude for the opportunity, stating, “We are honored to have been selected… Read More Here