Mining in Zambia - Copperbelt Katanga Mining

GoviEx Advances Muntanga Uranium Project Financing in Zambia

February 22, 2025February 22, 2025 Constance

TSX-listed GoviEx Uranium has appointed Endeavour Financial as its financial adviser, marking the first step in securing project financing for its Muntanga uranium project in Zambia. Muntanga is a near-term uranium project with well-established export routes to both Western and Eastern markets. It has a net present value (NPV) of $243 million, an internal rate of return (IRR) of 20.8%, and a rapid payback period of 3.8 years. The project is highly leveraged to uranium prices, with its NPV increasing by $45 million for every $5/lb rise in triuranium octoxide… Read More Here

Mining in Zambia Copper New Mining Projects

Barrick Files Technical Reports for Lumwana Expansion and Reko Diq Projects

February 21, 2025February 21, 2025 Constance

Barrick Gold Corp has filed technical reports for its Reko Diq and Lumwana Expansion projects in Pakistan and Zambia, respectively, outlining significant development and production growth plans. Barrick, which owns a 50% stake in Reko Diq and operates it through the Reko Diq Mining Company (RDMC), has completed a feasibility study detailing a phased development approach: The project includes two open-pit mines—Western Porphyries (main pit) and Tanjeel (satellite pit)—along with a processing plant and associated infrastructure. It will produce copper concentrate containing gold, which will be processed by third-party smelters.… Read More Here

Transport and Logistics Angola Mining in DRC Mining in Zambia

U.S. Aid Freeze Puts Africa’s Critical Minerals Corridor at Risk

February 21, 2025February 21, 2025 Constance

A billion-dollar expansion of Africa’s most strategic U.S.-backed critical minerals project is now in limbo due to a foreign aid freeze under the Trump administration—creating an opening for China to expand its influence. At the center of the crisis is the Lobito Corridor railway project, a key infrastructure initiative designed to transport copper and cobalt from the Central African Copperbelt—home to some of the world’s richest deposits—to the Angolan coast for export to Western markets. The project was set to receive funding from the U.S. International Development Finance Corp. (DFC)… Read More Here

Mining in Zambia Copper New Mining Projects

Jubilee Metals Ramps Up High-Grade Copper Processing at Roan Facility

February 19, 2025February 19, 2025 Constance

Jubilee Metals Group (LON: JLP) has begun processing high-grade copper feed material at its Roan concentrator in Zambia, marking a key milestone in its operational strategy. The facility had previously relied on low-grade waste material for copper production. This development follows Jubilee’s recent agreement to secure an initial 200,000 tonnes of material with a copper content of approximately 1.6%—more than double the 0.7% grade of previously processed material at Roan. Payment for this high-grade material will be made through Jubilee’s Zambian operations, along with the issuance of $2.7 million worth… Read More Here

Mining in Zambia Corporate News Mergers & Acquisitions New Mining Projects Zinc

Shuka Minerals Advances Kabwe Zinc Mine Acquisition and Redevelopment

February 17, 2025February 17, 2025 Constance

AIM-listed Shuka Minerals is making significant progress toward acquiring and redeveloping the Kabwe zinc mine in Zambia, with a newly appointed board overseeing the process. In a corporate and operational update on February 14, CEO Richard Lloyd reaffirmed the company’s commitment to unlocking Kabwe’s full potential. He noted strong support from potential funders, with various financing options under consideration. However, he emphasized the need for well-structured budgeting and timelines to ensure the project’s success. Shuka’s planned acquisition of Zambian mining and exploration company Leopard Exploration and Mining (LEM) follows a… Read More Here

Mining in Zambia Transport and Logistics

Minister of Transport Highlights Lobito Corridor’s Role in Zambia’s EV Hub Growth

February 16, 2025February 16, 2025 Constance

Zambia’s Minister of Transport and Logistics, Hon. Frank Tayali, has underscored the Lobito Corridor Project as a transformative initiative that will position Zambia as a leading hub for electric vehicle (EV) battery production and assembly. Speaking at the Lobito Corridor Stakeholder Discussion during the recent Mining Indaba in South Africa, Hon. Tayali reaffirmed the government’s commitment to leveraging the project’s benefits through regulatory reforms in the EV industry. The Lobito Corridor is a vital trade route connecting Angola’s Port of Lobito to the mineral-rich regions of the Democratic Republic of… Read More Here

Mining in Zambia Copper Corporate News New Mining Projects

FQM’s Kansanshi S3 Expansion to Strengthen Growth and Financial Resilience

February 16, 2025February 16, 2025 Constance

First Quantum Minerals’ Kansanshi S3 Expansion project in Zambia marks a pivotal moment for the Canadian mining company, enhancing its financial resilience and driving future growth, CEO Tristan Pascall has stated. Reporting on the company’s fourth-quarter results, Pascall confirmed that the expansion remains on track for completion by mid-2025, with significant progress in construction and commissioning. By the end of 2024, construction of the process plant had reached 62% completion, with early commissioning already underway. System configuration for the plant’s control system was 80% complete, focusing on cleaner and reagent… Read More Here

Mining in Zambia Copper Corporate News

First Quantum Takes Cautious Approach to Selling Zambian Mine Stake

February 14, 2025February 14, 2025 Constance

First Quantum Minerals is in no rush to sell a minority stake in its Zambian copper mines, CFO Ryan MacWilliam told analysts following the company’s fourth-quarter results. The Toronto-based miner aims to secure a long-term partner but has set no fixed timeline for the sale. “We have been consistent throughout that any arrangements we enter into in Zambia will be for the next 25 years,” MacWilliam stated. “It’s really about getting the right agreement rather than a quick agreement.” Saudi Arabian mining firm Manara is reportedly in advanced discussions to… Read More Here

Mining in Zambia Economy

Bank of Zambia to Launch New Currency Family in March 2025

February 14, 2025February 14, 2025 Constance

The Bank of Zambia has announced the introduction of a new series of currency, set to launch on March 31, 2025. The updated currency family includes six banknotes (K500, K200, K100, K50, K20, and K10) and six coins (K5, K2, K1, 50N, 10N, and 5N). The alpha code (ZMW), numeric code (967), and currency symbol (K) will remain unchanged, preserving the value of the currency. The new banknote designs draw inspiration from Zambia’s rich heritage and natural beauty, featuring the African Fish Eagle, six of the country’s key waterfalls, and… Read More Here

Mining in Zambia Economy

Zambia Raises Interest Rate to Stabilize Kwacha and Curb Inflation

February 14, 2025February 14, 2025 Constance

The Bank of Zambia has raised its base interest rate by 0.5 percentage points, increasing it from 14% to 14.5%, in an effort to stabilize the Kwacha and control inflation. The decision was announced following the Monetary Policy Committee (MPC) meeting held from February 10-11, with Governor Dr. Denny Kalyalya stating that the move aims to steer inflation back within the target range of 6-8% over the medium term. “The relatively higher inflation outlook for 2025 is largely driven by recent inflationary pressures and the continued depreciation of the exchange… Read More Here