Mining in Zambia - Copperbelt Katanga Mining

ZUPED Welcomes Vedanta's $250 Million Commitment to Revive Konkola Copper Mines 22

The Zambians for Unity, Peace, and Development (ZUPED) have expressed optimism regarding the future of Konkola Copper Mines Plc (KCM) following Vedanta Resources’ assurance of securing US$250 million to settle KCM’s creditors. This positive development follows a High Court decision on June 28, 2024, mandating the payment. Vedanta Resources, in collaboration with the Zambian government and ZCCM-IH, is diligently progressing to fulfill all requirements outlined in the transaction agreements. Ronnie Jere, President of ZUPED, voiced confidence that this financial injection would significantly bolster the country’s economy. “We believe the investor… Read More Here

Mining in Zambia Electricity Energy Green Energy

Zambia Promotes Solar Energy Adoption to Mitigate Electricity Challenges for SMEs

July 7, 2024July 7, 2024 Constance

To address the disruptions caused by electricity load shedding, the Zambian government is actively promoting the adoption of solar energy among small and medium-sized enterprises (SMEs). The initiative aims to enable businesses to maintain operations smoothly even during power cuts. Hon. Elias Mubanga, MP, Minister of Small and Medium Enterprise Development, is leading this effort. He emphasized the importance of supporting small businesses through reliable and sustainable energy solutions like solar power. “We want to ensure small businesses can thrive, even in the face of power outages,” Mubanga stated. “Solar… Read More Here

Mining in Zambia Electricity News in Brief

Copperbelt Energy Corporation to Address Mining Power Shortfall with Imports

July 7, 2024July 7, 2024 Constance

Copperbelt Energy Corporation (CEC) Group Chief Executive Officer Owen Silavwe announced that imported power will start flowing next month to address the significant shortfall in the mining industry, which is estimated to be between 20% and 30%. Zesco has declared a force majeure on the mining sector, retracting 20% of the energy previously supplied to the mines. In response, CEC stated last month that it had signed contracts with the mining companies it serves to supply the power deficit through imports. During the Energy Indaba held last week in Lusaka,… Read More Here

Press Release Copper Mining in Zambia

Vedanta ready with $250 million funding to pay KCM Creditors

July 5, 2024July 5, 2024 Constance

Friday 5th July, 2024 Lusaka, Zambia – In a significant development, Vedanta has arranged USD 250 million funding to pay KCM Creditors as per High Court decision rendered on 28 June 2024. With Vedanta Resources’ reinstatement, Konkola Copper Mines (KCM) is poised for a new era of growth and prosperity. Vedanta Resources, the Government of the Republic of Zambia (GRZ), and ZCCM Investments Holdings Plc (ZCCM-IH) are working in close collaboration to complete all steps outlined in the transaction documents. The parties involved are demonstrating their shared commitment to KCM’s… Read More Here

Angola Mining in DRC Mining in Zambia Partnership Transport and Logistics

ProMarks and Trafigura sign MOU with the Angolan government

July 5, 2024July 5, 2024 Constance

ProMarks, an international engineering company specialized in the energy sector and Trafigura, a market leader in the global commodities industry, yesterday signed a Memorandum of Understanding (MOU) with the Government of Angola to conduct a technical and economic viability study and to develop a Public Private Partnership model for a major regional power transmission and supply project. The signing ceremony was held in Luanda in the presence of government representatives from Angola, alongside other diplomatic guests and representatives from the private sector. The MOU was witnessed by His Excellency João… Read More Here

Copper Mining in Zambia

UAE’s IRH Withdraws Bid for Vedanta’s Zambian Copper Mines

July 5, 2024July 5, 2024 Constance

International Resources Holding (IRH), a subsidiary of UAE’s International Holding Company IHC.AD, has announced the withdrawal of its bid to acquire a stake in Vedanta Resources Ltd’s Zambian copper mines. The decision follows unsuccessful negotiations over the valuation of the assets, as reported by Reuters. IRH had proposed acquiring a 51% stake in Vedanta’s Konkola Copper Mines (KCM) for more than $1 billion, aiming to strengthen its copper holdings in Zambia after a recent acquisition of a 51% stake in Mopani Copper Mines. “IRH terminated the transaction discussions two months… Read More Here

Mining in Zambia Energy Green Energy

ENGIE Energy Access Launches Construction of 15 Solar Mini-Grids in Zambia

July 3, 2024July 3, 2024 Constance

ENGIE Energy Access, Africa’s leading provider of Pay-As-You-Go (PAYGO) and mini-grid solutions, has commenced the construction of 15 solar mini-grids in Zambia’s Eastern Province. This initiative is part of the transformative Increase Access to Electricity and Renewable Energy Production (IAEREP) program, supported by the 11th European Development Fund and the European Union. By expanding off-grid energy solutions in Zambia, ENGIE Energy Access aims to provide reliable electricity to underserved families and small businesses, fostering economic growth and enhancing socio-economic welfare in local communities. MySol Grid Zambia, a unit of ENGIE… Read More Here

Mining in Zambia

ZCCM Investments Holdings Declares K243 Million Dividend for 2023

July 3, 2024July 3, 2024 Constance

ZCCM Investments Holdings Plc (ZCCM-IH) has announced a dividend of K243 million for the 2023 financial year, as approved by shareholders during the company’s 20th Annual General Meeting (AGM) held on Friday, June 28, 2024. Of this amount, ZMW187 million will be allocated to the Government of the Republic of Zambia, with ZMW146 million going to the Industrial Development Corporation and ZMW42 million to the Ministry of Finance and National Planning. The dividend approval follows a notable company profit of ZMW4.84 billion for the 2023 financial year, a 14% increase… Read More Here