Mining in Zambia - Copperbelt Katanga Mining

ZDA Achieves $9.89 Billion in Realized Investments, Creating Over 40,000 Jobs 1

The Zambia Development Agency (ZDA) has successfully actualized $9.83 billion of the $58.78 billion in committed investments, translating into 497 projects across various sectors. These initiatives, representing a commitment of $18.74 billion, have generated 40,395 jobs, surpassing the initial target of 38,119 jobs. ZDA Director General Albert Halwampa highlighted the Agency’s intensified efforts to support investment projects that foster job creation and economic growth. In 2024, ZDA ramped up its trade, investment, and business development activities through targeted trade missions and enhanced support services to boost competitiveness in key economic… Read More Here

Zambia Urges Sustainable Energy Investments Amid Power Deficit

December 30, 2024December 30, 2024 Constance0 comment

The Ministry of Energy has urged investors to focus on sustainable electricity generation to address Zambia’s power shortage, worsened by climate-related low water levels. Speaking in Lusaka, Permanent Secretary Peter Mumba reaffirmed the government’s commitment to supporting energy sector investments. This call to action came during a meeting with the China Civil Engineering Construction Corporation (CCECC), which plans to develop two solar power plants in Nalolo and Lukulu districts of Western Province. These projects aim to add 600 megawatts to the national grid. PS Mumba disclosed that Zambia’s electricity generation… Read More Here

Mining in Zambia Electricity

Zambia Sees Growth in Urban Electricity Access, Report Shows

December 28, 2024December 28, 2024 Constance

Zambia has recorded a significant increase in urban electricity access, according to the 2023 National Energy Access Baseline Survey report. The report reveals that, out of more than 1.5 million households in the country, over 80% now have access to electricity, a notable rise from the 64% recorded in previous surveys. Peter Mumba, Permanent Secretary of the Ministry of Energy, attributed this progress to the ministry’s ongoing initiatives in collaboration with various stakeholders. He highlighted that these efforts have played a crucial role in expanding electricity access across urban areas.… Read More Here

Mining in Zambia Economy

Bank of Zambia Announces Plan to Phased Out Cheques by 2026

December 28, 2024December 28, 2024 Constance

The Bank of Zambia (BoZ) has unveiled a comprehensive plan to phase out the use of bank cheques nationwide, with the final discontinuation scheduled for June 24, 2026. This major decision comes in response to an 80% decline in cheque transactions over the past decade. In an official statement, the BoZ cited the rapid rise of electronic payment methods and growing concerns over security as key factors driving the transition. The bank pointed out that cheques are highly susceptible to fraud, including forgery, alteration, theft of cheque books, and unauthorized… Read More Here

Mining in Zambia Copper New Mining Projects

Midnight Sun Secures License Renewal for Solwezi Copper Project in Zambia

December 25, 2024December 25, 2024 Constance

Midnight Sun Mining Corp. (TSXV: MMA) announced Monday the renewal of the exploration license for Kazhiba, a key target area within its flagship 506-sq.-km Solwezi copper project in Zambia. The project is located just 10 km from the Kansanshi mine, Africa’s largest copper mining complex, operated by First Quantum Minerals (TSX: FM). Midnight Sun has an exploration agreement with First Quantum to develop the area. The Zambian government recently rectified an earlier error in rejecting the license renewal for Kazhiba. This resolution removes any doubts about the project’s future. “The… Read More Here

Mining in Zambia Emeralds

Temporary Suspension of Mining Operations at Kagem Due to Damaged Emerald Market

December 25, 2024December 25, 2024 Constance

Kagem Mining Limited (“Kagem”) announces the temporary suspension of mining operations at Kagem. This decision is a direct consequence of disturbed emerald market dynamics arising from an oversupply of Zambian emeralds at discounted prices during the second half of 2024, compounded by conflicting emerald auction dates between the key Zambian emerald producers and giving rise to a destabilised Zambian emerald market outlook for at least the first half of 2025. These market dynamics are evidenced by the disappointing auction results from Kagem’s last commercial and higher-quality auctions held in September… Read More Here

Mining in Zambia Economy Energy

ZCCM-IH Invests $10 Million in Green Bond to Boost Zambia’s Renewable Energy

December 21, 2024December 21, 2024 Constance

ZCCM Investments Holdings PLC (ZCCM-IH) has announced a $10 million (approximately ZMW 275 million) investment in the second tranche of CEC Renewables Limited’s (CEC-R) Green Bond issuance. This strategic move underscores ZCCM-IH’s commitment to advancing sustainable energy and supporting Zambia’s capital market growth. The second tranche of the bond raised $96.7 million, earmarked for expanding the 60 MW Itimpi-1 solar photovoltaic (PV) plant into the 136 MW Itimpi-2 project. This initiative seeks to address Zambia’s persistent energy crisis by bolstering the country’s renewable energy infrastructure. Dr. Ndoba Vibetti, CEO of… Read More Here

Mining in Zambia Electricity

KGL Unveils 10-Year Strategic Plan to Address Zambia’s Power Crisis

December 21, 2024December 21, 2024 Constance

Amid Zambia’s ongoing power shortages, exceeding 1,300 MW and causing widespread blackouts, the Kafue Gorge Lower Power Development Corporation Limited (KGL), a subsidiary of Zesco Limited, has launched a transformative 10-year strategic plan. Announced on December 11, 2024, the plan aims to reshape the nation’s energy landscape by addressing the power crisis, promoting sustainable energy, and supporting Zambia’s economic development goals. KGL’s evolution from a project-focused entity to a fully operational power generation corporation is a critical milestone. Operating a 750 MW hydroelectric power plant, the largest installed capacity among… Read More Here

Mining in Zambia Copper Corporate News

Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access

December 21, 2024December 21, 2024 Constance

Mercuria Energy Group has entered into a metals trading partnership with Zambia, marking another instance of a major commodity trader collaborating with a resource-rich nation to secure critical materials. The Geneva-based company announced its alliance with Zambia’s Industrial Development Corporation (IDC) on Thursday. This move aligns with Mercuria’s strategy to expand its metals trading operations, spearheaded by Kostas Bintas, a former Trafigura Group executive. The initiative reflects the growing interest among trading houses to secure access to minerals essential for the global energy transition. For Mercuria, increasing exposure to copper… Read More Here

Mining in Zambia Economy

World Bank Approves $100 Million to Bolster Zambia’s Climate and Economic Resilience

December 21, 2024December 21, 2024 Constance

The World Bank has approved a $100 million financing package to enhance Zambia’s capacity to manage natural disasters and strengthen its economic and climate resilience. The initiative integrates a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO). The financing package includes $25 million to address Zambia’s current economic challenges and promote climate adaptation, alongside $75 million set aside as contingent funding for rapid response to national disasters. This dual approach is designed to help Zambia manage the immediate impact of a severe drought… Read More Here