Mining in Zambia - Copperbelt Katanga Mining

IMF Reaches Staff-Level Agreement to Release $185.5 Million for Zambia 1

The Zambian government and the International Monetary Fund (IMF) have reached a staff-level agreement to disburse $185.5 million to Zambia, pending approval from IMF management and the executive board. The agreement follows an IMF mission to Zambia from October 2-15, led by Mercedes Vera Martin, and subsequent discussions held in Washington. The IMF highlighted the severe impact of recent drought conditions on Zambia’s agricultural output and electricity supply. Commenting on the government’s response, the IMF noted, “The authorities mobilized emergency relief for the most vulnerable populations while maintaining fiscal consolidation… Read More Here

Mining in Zambia Copper

CNMC to Invest $1.5 Billion in Luanshya Copper Mines Expansion and New Samba Project

November 13, 2024November 13, 2024 Constance

China Non-ferrous Mining Corporation Limited (CNMC) has announced plans to invest nearly $1.5 billion to rehabilitate and expand operations at Luanshya Copper Mines in Zambia. This major investment aims to increase production and modernize the mining facilities, supporting Zambia’s growing copper industry. The dewatering of Shaft 28, a critical step in the mine’s rehabilitation, is expected to be completed by the end of 2025, according to CNMC. Additionally, CNMC Chairperson Wen Gang stated the company’s interest in developing a new mining site, named Samba Mines, which will further boost Zambia’s… Read More Here

Gold Mining in Zambia

Zambia Launches Construction of Gold Mining Centers in Rufunsa and Mumbwa

November 12, 2024November 12, 2024 Constance

The construction of Zambia’s first two Gold Mining Centers in the Rufunsa and Mumbwa districts is now underway, with completion targeted for the end of this year. Mines and Minerals Development Minister Paul Kabuswe announced that the government has appointed Zamgold Limited as the official gold aggregator, responsible for purchasing gold from newly formalized gold markets. This initiative aims to regulate the sector and promote legal trade. In his statement to the National Assembly, Mr. Kabuswe highlighted that the establishment of these centers is a key step toward reducing illegal… Read More Here

Mining in Zambia Copper Drilling

Arc Minerals Discovers Copper at All Drilled Targets in Zambia JV with Anglo American

November 8, 2024November 8, 2024 Constance

London-listed Arc Minerals has reported copper mineralization at each target drilled on its joint venture (JV) copper project with Anglo American in Zambia. The companies have identified priority targets for further investigation, and drilling is set to continue through Zambia’s rainy season. One high-priority target near Muswema has been elevated in importance due to its alteration mineralogy, which is similar to known deposits in the Domes region of the Zambian Copperbelt. Visible copper mineralization has been observed in core samples, according to Arc’s chairperson, Nick von Schirnding. Samples have been… Read More Here

Mining in Zambia Electricity

Zesco Introduces New 7-Hour Daily Power Rationing Schedule in Zambia

November 8, 2024November 8, 2024 Constance

Zesco has announced a new power rationing schedule in Zambia, aiming to ensure a consistent 7-hour daily power supply for its customers. The update, shared by Zesco’s Corporate Affairs Department, seeks to improve service reliability by strategically optimizing power imports and maximizing contributions from Independent Power Producers. In its statement, Zesco clarified that while the utility is committed to upholding this schedule, it relies on the availability of imported power and may face unexpected challenges. Should disruptions occur, Zesco will issue real-time updates through SMS, its Facebook page, and other… Read More Here

Mining in Zambia Corporate News

Jubilee Metals Reports Strong Growth in South Africa and Zambia Operations

November 7, 2024November 7, 2024 Constance

Diversified metals producer Jubilee Metals has reported significant growth in its South African operations, with production increases across chrome and platinum group metals (PGMs) during the first quarter of FY 2025. The company’s South African operations, now well-established, are consistently exceeding targets. For the quarter ending September 30, chrome concentrate production rose by 8% to 455,381 tons, surpassing the targeted output. PGM production, which includes platinum, palladium, rhodium, ruthenium, iridium, and gold, reached 9,328 oz, aligning with guidance. “Jubilee’s chrome operations have achieved outstanding performance, exceeding quarterly targets,” the company… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Statunga Investments Secures Key License for Zambia’s Luansobe Copper Project Expansion

November 5, 2024November 5, 2024 Constance

Zambian mining firm Statunga Investments Limited has obtained an additional small-scale mining license for the Luansobe Copper Project in Zambia. This new license, numbered 34545-HQ-SML, is valid for ten years and authorizes the exploration and extraction of copper, as well as other base and precious metals, over a 384-hectare area. “We now have a second mining license for Luansobe, covering the underground resource area,” stated Colin Bird, Chairman of Galileo Resources. The license supports Galileo Resources’ strategy to develop both open-pit and underground resources at Luansobe. The company is also… Read More Here

Mining in Zambia Drilling

Tertiary Minerals Commences Drilling at Mukai- Copper Project

November 5, 2024November 5, 2024 Constance

The Company has announced that First Quantum Minerals Limited (“First Quantum”) has commenced drilling at the Mukai Copper Project in Zambia following the receipt of all necessary consents. Highlights · The Company has received approval from the Department of Forestry to conduct further mineral exploration, including drilling, in the Licence area (the “Licence”). · Consent has also been granted by the leadership of local tribal group, the Musele Royal Establishment (“Musele Chiefdom”), to conduct mineral exploration on the Licence · Phase 1 drill programme, now underway, will comprise up to… Read More Here

Mining in Zambia

Zambia’s New Policy on Mining Stakes to Preserve Current Operations

November 4, 2024November 4, 2024 Constance

Zambia’s recent plan to increase its ownership stake in specific mining projects will not impact current operations or exploration activities, a senior government official has confirmed. In August, the Ministry of Mines introduced a policy for a state-owned entity to hold at least a 30% share in future critical mineral projects. This approach is designed exclusively for over 40 government-reserved mining permits, and the government plans to attract investment partners to develop these assets, explained Jito Kayumba, special assistant for finance and investment to President Hakainde Hichilema. “No entity currently… Read More Here

Mining in Zambia Copper Corporate News

IRH Advances Sustainable Transformation at Zambia’s Mopani Copper Mines

November 3, 2024November 3, 2024 Constance

International Resources Holding RSC Ltd. (IRH), a natural resources subsidiary of 2PointZero, has shared updates on transformative initiatives underway at the Mopani Copper Mines in Zambia. Acquired in early 2024, IRH aims to establish Mopani as the Copperbelt’s most productive copper mine through technological innovation, sustainability, and workforce collaboration. Transforming Mopani Copper Mines IRH’s acquisition of Mopani Copper Mines aligns with a vision to modernize and decarbonize the operation, with a target to increase copper production to 200,000 tonnes annually within three years. This initiative supports Zambia’s national goal of… Read More Here