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Category: Mining in Zambia

ZCCM-IH DELIVERS A K146 MILLION DIVIDEND TO IDC 1 Mining in Zambia Copper 

ZCCM-IH DELIVERS A K146 MILLION DIVIDEND TO IDC

Constance
ZCCM Investments Holdings Plc (ZCCM-IH) has handed over a K146 million dividend cheque to its majority shareholder, the Industrial Development Corporation (IDC), for the 2023 financial year. ZCCM-IH CEO, Dr Ndoba J.Vibetti handed over the dividend cheque to IDC CEO Mr Cornwell Muleya, earlier today. Some key highlights from Dr. Vibetti’s remarks during the handover ceremony: • Dividend Consistency: This marks the 9th consecutive year that ZCCM-IH has paid a dividend to the IDC. Last year, a record dividend of K436 million was paid for the financial year 2021 and 2022.… Read More Here
Gemfields Reports Strong Revenue and Expansion Progress 21 Mining in Zambia Gemstones 

Gemfields Reports Strong Revenue and Expansion Progress

Constance
Gemstone miner Gemfields has reported total auction revenues of $121 million for the first half of the year, driven by strong demand for rough emeralds and rubies. In its interim results, Gemfields confirmed that construction of a second processing plant at its 75%-owned Montepuez ruby mine in Mozambique is on budget and scheduled for completion by mid-2025. At the 75%-owned Kagem emerald mine in Zambia, the wash plant upgrade is complete and operating at an enhanced processing rate. The company reported a net debt of $44.4 million for the period,… Read More Here
Zambia Addresses Energy Crisis Amidst El Niño and Climate Change 22 Mining in Zambia Electricity Energy 

Zambia Addresses Energy Crisis Amidst El Niño and Climate Change

Constance
Minister of Energy, Hon. Makozo Chikote, addressed the nation regarding the severe electricity shortage caused by El Niño and climate change. He emphasized the government’s efforts to mitigate the crisis and commended Zambians for their patience and resilience. The country’s installed national power generation capacity stands at 3,777 MW, with a current peak demand of 2,400 MW. However, as of July 2024, only 1,255 MW is available, resulting in a deficit of 1,145 MW. To bridge this gap, Zambia is importing 1,664 MW of power. Key measures implemented by the… Read More Here
Zambia's Maamba Collieries Rebrands to Maamba Energy, Doubles Power Capacity 23 Mining in Zambia Electricity Energy 

Zambia’s Maamba Collieries Rebrands to Maamba Energy, Doubles Power Capacity

Constance
Maamba Collieries Ltd, Zambia’s leading independent private power producer, has rebranded to Maamba Energy Ltd to better reflect its core focus on energy production. This rebranding aligns with the company’s ambitious plan to double its electricity generation capacity from 300 MW to 600 MW, aiming to address Zambia’s critical power deficit. “Energy is our primary business, and the new name Maamba Energy better reflects that,” said Chief Executive Officer Lt Col Cyrus Minwalla (Retd). “Coal sales have been merely an adjunct to our core power business. As the new name… Read More Here
World Bank to Approve Five-Year Partnership Framework with Zambia 24 Mining in Zambia Economy 

World Bank to Approve Five-Year Partnership Framework with Zambia

Constance
The World Bank is poised to approve a five-year New Partnership Framework with Zambia by September this year, which will run from 2025 to 2029. This strategic initiative aims to bolster human capital development and support the nation’s infrastructure advancements. World Bank Managing Director and Group Chief Administrative Officer, Wencai Zhang emphasised the significance of this partnership during a meeting with Zambia’s Infrastructure Development Minister, Charles Milupi. Zhang highlighted that the framework is designed to address critical areas essential for Zambia’s socio-economic growth. “The framework will play a pivotal role… Read More Here
Zambia Projects 6% Economic Growth for 2025 25 Mining in Zambia Economy 

Zambia Projects 6% Economic Growth for 2025

Constance
During the Mid-year Budget and Economic Performance Review in Lusaka, Finance and National Planning Minister Situmbeko Musokotwane projected a minimum 6% growth for Zambia’s economy in 2024. He attributed this optimistic outlook to various government measures aimed at fostering economic stability. Musokotwane also highlighted a positive vision for 2025, expecting favourable rainfall to aid the recovery of the agriculture and energy sectors. Despite ongoing challenges such as price volatility and supply chain interruptions, the ministry is committed to improving enforcement measures to address weaknesses like tax compliance. Zambia Revenue Authority… Read More Here
Zambia Turns to Angola for Fuel Imports to Ensure Supply Stability 26 Mining in Zambia Oil & Gas Petroleum 

Zambia Turns to Angola for Fuel Imports to Ensure Supply Stability

Constance
Zambia is actively considering the importation of fuel from Angola to secure a consistent supply within the country. Rodney Kalota, Director of Petroleum at the Ministry of Energy, announced this development, highlighting the government’s commitment to ensuring a stable fuel supply. Speaking at the Zambia Chamber of Commerce and Industry’s (ZACCI) Energy Breakfast Meeting in Lusaka, Kalota stated, “The government is committed to exploring various measures to ensure a constant fuel supply in the country.” Kalota also reaffirmed the Ministry of Energy’s dedication to President Hichilema’s directive to stabilize fuel… Read More Here
Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi 27 Mining in Zambia Copper 

Non Ferrous Company to Create 2,400 Jobs with $600 Million Expansion in Kalulushi

Constance
Non Ferrous Company Africa (NFCA) Mining Limited is poised to create approximately 2,400 jobs through the expansion of its South East Ore Body project in the Kalulushi District of Copperbelt Province. The company has committed a substantial investment of $600 million for this significant development. During a media tour in Chambeshi, NFCA Chairperson Zhanyan Li outlined the ambitious plans, stating, “This expansion will boost our copper production to 110,000 tonnes per year.” He further highlighted the economic benefits, noting that the project is expected to generate $36.15 million in taxes… Read More Here
Zambia's Copper Production Set to Surge by 2027 28 Copper Economy Mining in Zambia Uncategorized 

Zambia’s Copper Production Set to Surge by 2027

Constance
Zambia’s annual copper production is projected to grow by more than 40% to reach 1 million tons by 2027, according to the country’s Finance Ministry. As Africa’s second-largest copper producer, Zambia aims to capitalize on the anticipated supply shortfall driven by the energy transition, which is increasing demand for copper in electric vehicles and wind farms. In 2023, Zambia’s copper output fell to a 14-year low of 698,566 tons due to frequent tax changes and conflicts with the previous government. However, the Ministry of Finance and National Planning’s medium-term budget… Read More Here

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