Mining in Zambia - Copperbelt Katanga Mining

Mopani Copper Mines Aims to Become Global Leader with New Vision and Strategy

September 23, 2024September 29, 2024 Constance

Mopani Copper Mines PLC has unveiled a bold new corporate vision, targeting to become a global leader in the copper production and mining value chain. The updated vision, “To become a world champion mine through BEST values,” replaces the previous goal of being a “world-class mining operation.” This shift reflects the company’s evolving strategic ambitions under the leadership of its new majority shareholders, International Resources Holding (IRH), who have set a target to increase copper production from the current 65,000 tonnes to 225,000 tonnes annually within the next four years.… Read More Here

Mining in Zambia Governance Mining Policy

Zambian Govt and Mining Companies Seek Resolution Over Proposed Mineral Rights Legislation

September 22, 2024September 22, 2024 Constance

Zambian mining companies have engaged in discussions with the government to address concerns over a proposed legal amendment that could grant the state a larger share of the country’s mineral resources. The draft legislation, currently under consideration in Zambia’s parliament, would allow the government to “acquire mining rights for investment.” This would enable the state to purchase a stake in a mining area before an exploration license is issued and retain ownership after a discovery is made and the site is developed. The Zambia Chamber of Mines, whose members include… Read More Here

Mining in Zambia Cobalt Copper New Mining Projects

$30 Million Copper and Cobalt Mine Set to Boost Production in Zambia’s Copperbelt

September 22, 2024September 22, 2024 Constance

A new $30 million copper and cobalt mine, Chilibwe Mine, is set to begin operations in Mufulira District, Copperbelt Province. The mine, located off the Ndola-Mufulira road, spans 20 hectares and is expected to produce 2,000 metric tonnes of copper and cobalt per month over its projected 10-year lifespan. This venture aligns with President Hakainde Hichilema’s vision to increase Zambia’s copper output to 3 million tonnes annually by 2032. At a recent scoping meeting in Mufulira, Chilibwe Mine’s management engaged key stakeholders to discuss the project’s potential environmental and social… Read More Here

Mining in Zambia Gemstones

Gemfields Sells Only 61% of Emeralds at Latest Auction Amid Market Challenges

September 22, 2024September 22, 2024 Constance

Gemfields, listed on both the Johannesburg and London stock exchanges, sold only 61% of the emeralds offered at its latest auction, generating $10.8 million in total revenue. The average sales price was $4.47 per carat. The auction, held from August 27 to September 13, featured 46 lots, but only 28 were sold. Adrian Banks, Gemfields’ Managing Director of Product and Sales, attributed the weaker-than-expected results to several market pressures. “The luxury goods, diamond, and gemstone markets are facing significant headwinds due to conflicts, elections, economic uncertainty in China, and broader… Read More Here

Mining in Zambia Copper Exploration New Mining Projects

Midnight Sun Mining Expands Copper Exploration Near Kansanshi Mine

September 21, 2024September 22, 2024 Constance

Canadian exploration company Midnight Sun Mining has launched a new exploration phase at the Kazhiba target on its Solwezi property in Zambia. This initiative is part of the company’s ongoing cooperative exploration agreement with First Quantum Minerals, aimed at identifying near-surface oxide copper resources to supply the nearby Kansanshi mine, located less than 10 km away. The exploration program involves 3,000 meters of reverse circulation drilling, partial ionic leach sampling, and an induced polarization survey, all designed to evaluate the high-grade oxide copper blanket at Kazhiba. Midnight Sun President and… Read More Here

Mining in Zambia Copper Gold

Zambia’s Chamber of Mines Warns of Investor Risks Amid Proposed Mining Reforms

September 19, 2024September 19, 2024 Constance

Zambia’s Chamber of Mines has raised concerns over proposed legislative and policy reforms, calling them “an unprecedented threat” to investors’ rights and warning that they could hinder the country’s goal to significantly boost copper production. The Chamber, which includes major industry players like First Quantum Minerals Ltd. and Barrick Gold Corp., opposes a draft law that would increase state control over certain minerals. It argues that these measures will undermine investor confidence and discourage future investment. In a statement issued on Tuesday, the Chamber criticized President Hakainde Hichilema’s administration for… Read More Here

Mining in Zambia Copper New Mining Projects

Mimosa Resources Secures $3 Million for Zambia’s Kashime Copper Mine Development

September 19, 2024September 19, 2024 Constance

Zambian mining company Mimosa Resources has secured a $3 million investment from Australian Stock Exchange-listed Zeta Resources for the development of its Kashime copper mine near Mkushi in Central Province. The funding will support final feasibility studies and preparatory work at the site. Mimosa Resources’ Executive Chairman, Jordan Soko, expressed confidence in the project, highlighting that Zeta’s investment reflects strong belief in Mimosa’s potential and the local expertise driving the Kashime mine. He noted the mine’s critical role in helping Zambia achieve its goal of producing 3 million tonnes of… Read More Here

Mining in Zambia Economy

Chi-Africa Mining Company to Invest $5 Million in Zambia’s Kalulushi District

September 19, 2024September 19, 2024 Constance

The Chi-Africa Mining Company has announced plans to invest over $5 million (approximately K131 million) in mining, agriculture, and solar energy projects in the Kalulushi District of Copperbelt Province, Zambia. This announcement follows President Hakainde Hichilema’s successful participation in the Forum for China-Africa Cooperation in Beijing, where he secured a $1 billion upgrade for the Tazara railway line and agreements to enhance power generation at ZESCO. Copperbelt Minister Elisha Matambo praised Chi-Africa’s investment during a meeting with the company’s representatives. “His Excellency Hakainde Hichilema is focused and very hardworking,” he… Read More Here

Mining in Zambia Electricity Energy

Zambian Copper mines Turn to Eskom for Power Amid Severe Energy Crisis

September 15, 2024September 16, 2024 Constance

Zambia’s largest mines are turning to an unexpected source of power as the country grapples with an unprecedented energy crisis: South Africa’s Eskom Holdings SOC Ltd. Eskom, which faced its own severe electricity deficit until March, is now providing crucial support. The crisis in Zambia has been exacerbated by an historic drought that has crippled hydropower generation, which supplies about 85% of the country’s electricity. As a result, households are experiencing power cuts of up to 21 hours a day, and companies like First Quantum Minerals Ltd. are forced to… Read More Here

Lithium Battery Metals Cobalt Mining in Zambia

WTO Chief Advocates Local Processing of Mining Products to Boost Africa’s Economic Value

September 15, 2024September 15, 2024 Constance

On Tuesday, September 12, 2024, World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala urged Africa to process its strategic mining products locally instead of exporting them raw. In a media briefing, she emphasized the need for an integrated approach to develop full value chains on the continent, particularly in resource-rich countries like the DRC. “Why continue to export raw materials?” Okonjo-Iweala questioned. “We should process these critical minerals locally, in partnership with neighboring countries such as Zambia, to create jobs and increase value addition in the region.” She highlighted Africa’s potential… Read More Here