Mining in Zambia - Copperbelt Katanga Mining

Over 2,500 Former Contract Workers Paid by Mopani

October 10, 2020October 10, 2020 arnbethnic

Mopani Copper Mines has revealed that over 2,500 former contract workers have so far been verified and paid their ex gratia payments. Following the resumption of operations in May 2020, Mopani Copper Mines Plc had stated that it would make ex gratia payments to eligible former employees of mining contractors. “Mopani Copper Mines Plc can confirm that almost all verifications have been completed and the exercise to pay ex gratia payments to eligible former mining contractor employees is nearing the end. The 3rd and final payment will be made within… Read More Here

CEC’s sales volumes in the DRC market up 25% – Silavwe

October 10, 2020October 11, 2020 arnbethnic

Copperbelt Energy Corporation Plc (CEC) has disclosed that it has continued to grow its business in the Democratic Republic of Congo (DRC), resulting in a 25 percent sales volume boost in 2019 despite increased pressure on its margins. Reviewing the Company’s performance last year in the company’s much-delayed 2019 annual report, managing director Owen Silavwe stated that CEC’s business in the DRC market had continued to grow each year, as the Company delivers on meeting the increasing power demand of mining customers in that country. “Our business in the DRC… Read More Here

Mining in Zambia New Mining Projects

BeMetals Commences Exploration Program at the Pangeni Copper Project

October 6, 2020October 6, 2020 admin

BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) ( “BeMetals”) is pleased to announce commencement of the fully funded exploration program at the Pangeni Copper Project (Pangeni” or the “Project”), located in the western extension of the Central African Copperbelt in Zambia. The primary objective for this year’s campaign is to extend the copper mineralization discovered at two high-priority targets during the 2019 exploration program, and potentially vector into higher grade areas. John Wilton, President and CEO of BeMetals stated, “We are pleased to have started a follow up phase… Read More Here

Mining in Zambia

Zambia’s mining sector not to be overshadowed by economic diversity agenda

October 5, 2020October 5, 2020 admin

Economic diversification should not prevent Zambia from exploiting its mineral wealth, says Stanbic Bank Zambia. The country’s largest bank has warned that while pushing for economic diversification is important, there is need to ensure the country’s mineral wealth and the mining sector were not neglected. Zambia boasts 10% of the world’s copper reserves, is the second largest copper producer in Africa and the eighth globally, remains one of the world’s largest cobalt producers, and has the world’s largest emerald mine. The mining industry is an important pillar of the economy… Read More Here

Mining in Zambia

Illegal miners attack owners in Mumbwa

October 4, 2020October 4, 2020 admin

Illegal miners in Mumbwa have encroached in a mine belonging to Cupriferrus resources limited, attacked the company’s operations manager and three others. The miners who are alleged to be Luiri gold mine workers seem to have taken advantage of a court ruling which declared them lawful owners of a mine which belonged to Bukomo mine, a ruling the Bukomo mine owners claimed to have been flawed. When the operations manager for Cupriferrus resources limited Kelvin Vlamakis Marko went to the mining site to check on what was obtaining on the… Read More Here

Copper Mining in Zambia

Lubambe Copper advancing new Zambian copper mine

October 4, 2020October 4, 2020 admin

Zambian miner Lubambe Copper Mine has completed an advanced concept study, revealing a new world-class copper resource and outlining the development of a new mine. To progress the project, Lubambe says it “has been actively engaged” with all key levels of the Zambian government, noting that there are a number of approvals required for the project. CEO Nick Bowen said on October 2 that, following completion of a recent drilling programme, the extension resource now stands at 135-million tonnes of copper/cobalt ore at an average grade of 3.65% copper and 0.05% cobalt at a cut-off grade of 2%. The project also has “further opportunity for growth”.… Read More Here

Energy Mining in Zambia

CEC cleared to challenge minister

October 2, 2020October 3, 2020 admin

THE Court of Appeal has given the Copperbelt Energy Corporation (CEC) a green light to challenge Minister of Energy Matthew Nkhuwa’s decision to declare its transmission and distribution lines as common carriers. However, the court has refused to grant CEC’s plea for an order of stay of execution of Mr Nkhuwa’s decision to declare the infrastructure as common carriers pending judicial review proceedings. This is in a case CEC filed an application to commence judicial review proceedings in the Court of Appeal against Government’s decision to declare its infrastructure as… Read More Here

Gold Mining in Zambia

Volt Resources terminates Zambian gold project acquisition

October 1, 2020October 1, 2020 admin

African-focused gold and graphite explorer and developer Volt Resources will not be proceeding with the proposed acquisition of an 85% interest in the Luiri Hill gold project in Zambia. The company will however continue to advance the exploration of its gold projects in Guinea and the funding for the development of the Stage 1 Bunyu graphite project in Tanzania. In May 2020, Volt entered into a binding term sheet regarding the conditional acquisition of an 85% interest in Luiri Hills. The proposed acquisition was subject to (amongst other things) satisfactory completion… Read More Here

Mining in Zambia Copper Taxes

Zambian royalty spat halts $2bn of copper mine investment

September 30, 2020September 30, 2020 admin

Copper miners in Zambia have halted $2-billion of planned investments because a royalty tax introduced last year makes the projects unviable, according to an industry lobby group. A plan by First Quantum Minerals to invest $1-billion extending the life of its Kansanshi operation won’t proceed until the royalty is scrapped, said Sokwani Chilembo, chief executive officer of the Zambia Chamber of Mines. The same goes for EMR Capital-backed Lubambe Copper Mine’s project to invest a similar amount in a new mining operation, he said. “We need this royalty payment regime removed for… Read More Here

Mining in Zambia Taxes

Zambia chamber of mines says double taxation hurting investment

September 29, 2020September 29, 2020 admin

Zambia should treat mineral royalty payments as a deductible expense in order to avoid double taxation and attract investment, the Zambia Chamber of Mines said on Monday. Since 2019, mineral royalty payments have not been treated as a deductible expense when calculating corporate income tax and that provision was kept unchanged in the government’s annual budget unveiled on Friday. “The effect of this is that mining companies end up being taxed on income that has already been paid over as a royalty – a situation referred to as double taxation,”… Read More Here