Mining in Zambia - Copperbelt Katanga Mining

U.S. Reaffirms Commitment to Lobito Corridor Investments

April 2, 2025April 2, 2025 Constance

The United States has reaffirmed its commitment to continuing investments along the Lobito Corridor, confirmed the U.S. Chargé d’Affaires in Angola and São Tomé and Príncipe during his visit to Huambo on Tuesday. James Story, after meeting with Governor Pereira Alfredo, stated that his three-day visit to the Lobito Corridor projects is part of an initiative that includes 16 ambassadors from various countries. This visit aims to demonstrate the U.S. government’s commitment to supporting the development of the Corridor, promoting prosperity for both the Angolan government and its people. “U.S.… Read More Here

Mining in Zambia Copper

ZCCM-IH Faces Arbitration Proceedings Over Trafigura Payment Dispute

April 1, 2025April 1, 2025 Constance

LUSAKA – ZCCM Investments Holdings Plc (LUSE: ZCCM-IH) has informed its shareholders and the investing public of ongoing confidential arbitration proceedings initiated by Trafigura Pte Limited. The arbitration, filed under the London Court of International Arbitration (LCIA) Rules 2020 on February 24, 2024, follows Trafigura’s demand for payment made on November 21, 2023. The dispute relates to a guarantee signed on July 28, 2021, by ZCCM-IH’s then-CEO. The guarantee was provided as security for a ZMW 1.663 billion (approximately US$100 million) prepayment agreement between Trafigura and Konkola Copper Mines Plc… Read More Here

Mining in Zambia

Zambia Unveils “The Zambezi Minute” Vision to Lead in Critical Minerals Sector

March 31, 2025March 31, 2025 Constance

This weekend, the Zambian government launched The Zambezi Minute, an ambitious initiative aimed at harnessing the global demand for critical minerals and attracting foreign investment. The government has committed to ensuring fair benefits for its citizens, including jobs, revenue, and sustainability, while drawing in capital to drive economic growth. The plan’s foundation rests on a streamlined regulatory system, with every policy evaluated by one key question: “Does it reduce risk and increase output?” Success, according to government officials, will rely on improved infrastructure, logistics, and transparent policies that foster investor… Read More Here

Mining in Zambia

Zambia’s Chief Geologist Calls for Regulatory Reforms to Strengthen Mining Sector

March 30, 2025March 30, 2025 Constance

Desiderius Chapewa, Chief Geologist for Regional Mapping at the Geological Survey Department, has outlined critical challenges facing Zambia’s mining exploration sector, including the lack of regulation for geological professionals and the need for better data management. In an interview with Copperbelt Katanga Mining at the recent AZMEC Forum in Kitwe, Mr. Chapewa highlighted the need to pass the Geoscience Professionals Bill to formalize the profession and enhance the exploration process. He also pointed out the difficulty investors face due to the absence of a centralized mineral inventory, with many companies… Read More Here

Mining in Zambia Corporate News Press Release

KCM Reaffirms Commitment to Settling Debts Under Court-Approved Payment Plan

March 30, 2025March 30, 2025 Constance

Konkola Copper Mines (KCM) has assured that it is fully committed to meeting its obligations under the Scheme of Arrangement, a court-approved payment plan. The company confirms that it has not defaulted on any payments to creditors and is adhering to the terms established by the court. KCM has already made full payments to smaller creditors (Class I), those owed less than $1 million. For larger creditors (Class II), owed $1 million or more, KCM has paid 35% of the amounts due as a first tranche on a prorated basis,… Read More Here

Mining in Zambia

Zambia’s Mining Pollution Poses Growing Environmental and Economic Risks

March 30, 2025March 30, 2025 Constance

Concerns over mining pollution in Zambia are growing as experts highlight severe health risks and economic instability linked to environmental hazards. Economic analyst Kelvin Chisanga has raised alarm over the discharge of harmful chemicals into the country’s water bodies by mining companies, calling for urgent regulatory action. “The mining sector once promised economic growth, job creation, and increased revenue. However, with stakeholders failing to uphold environmental standards, we are witnessing a dangerous trend of pollution,” Chisanga stated. He emphasized that Zambia’s mining industry has long operated under weak regulatory oversight,… Read More Here

Mining in Zambia Economy

Zambia’s Economy Surpasses Growth Forecasts Amid Strong Q4 Performance

March 28, 2025March 28, 2025 Constance

Zambia’s economy outperformed expectations in 2023, exceeding growth forecasts from both the government and the International Monetary Fund (IMF), driven by a sharp rise in fourth-quarter output. According to preliminary data, the country’s gross domestic product (GDP) grew by 4% in 2023, down from 5.4% in 2022, acting Statistician-General Sheila Mudenda announced on Thursday. This figure far exceeded the IMF’s projection of 1.2% and the estimates of President Hakainde Hichilema’s administration, Bloomberg reported. The economy recorded an impressive 8.6% growth in the last quarter—the fastest pace in over a decade—bolstered… Read More Here

Mining in Zambia Economy

Bank of Zambia to Launch New Kwacha Banknotes on March 31

March 28, 2025March 28, 2025 Constance

The Bank of Zambia will introduce a new family of Kwacha banknotes on Monday, March 31, making them immediately legal tender while beginning the gradual phase-out of the existing designs. The new series includes the 500, 200, 50, 20, and 10 Kwacha notes, featuring: According to Kagolis Mwamulowe, Director of the National Heritage Conservation Commission, the new notes highlight Zambia’s unique natural heritage, including its diverse flora and fauna. Leonard Mwanza, CEO of the Bankers’ Association of Zambia, reassured the public that banks and ATMs are fully prepared for the… Read More Here

Mining in Zambia Economy

Zambia Records First Inflation Decline in Over a Year

March 27, 2025March 27, 2025 Constance

For the first time since July 2023, Zambia’s annual inflation rate has declined, offering some much-needed economic relief. Reports indicate that in March 2025, inflation dropped to 16.5%, down from 16.8% in February. The announcement was made by Acting Statistician-General Sheila Mudenda on Thursday in Lusaka. A key driver of the decline was a drop in food prices, particularly for essentials such as bread and cereal. This was largely due to increased rainfall following one of the worst droughts in nearly a century. Food price inflation fell to 18.9% in… Read More Here

Mining in Zambia Energy

Zambia’s CEC to Invest $500 Million in Power Transmission and Solar Expansion

March 26, 2025March 26, 2025 Constance

Zambia’s Copperbelt Energy Corporation (CEC) plans to invest $500 million over the next two years to expand its power transmission infrastructure. The investment will focus on increasing solar power output and doubling the capacity of its crucial transmission line to the Democratic Republic of Congo (DRC). CEC, which operates the only transmission link between the DRC and the Southern African Power Pool (SAPP), intends to raise power transfer capacity from 250 MW to 550 MW. This expansion aims to enhance regional energy security and meet the growing industrial demand in… Read More Here