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Category: Mining in Zambia

Vedanta Regains Control of Konkola Copper Mines in Zambia After Court Approval 1 Mining in Zambia Copper Economy 

Vedanta Regains Control of Konkola Copper Mines in Zambia After Court Approval

Constance
Vedanta Resources Ltd. can regain control of the Konkola Copper Mines (KCM) project in Zambia following a court-sanctioned plan to settle the mine’s debts. On Friday, a court in Lusaka approved a scheme of arrangement supported by KCM’s creditors, as announced by Zambia’s Mines Minister, Paul Kabuswe, on Facebook. Billionaire Anil Agarwal’s Vedanta has been striving to reclaim the significant copper asset since 2019. At that time, KCM was placed into provisional liquidation by the previous government, which accused the owner of misleading about expansion plans and underpaying taxes. To… Read More Here
Hitachi Begins World's First Trial of Full Battery Dump Truck at FQM's Kansanshi Mine 2 Mining in Zambia Copper Equipment & Technology Mining Equipment 

Hitachi Begins World’s First Trial of Full Battery Dump Truck at FQM’s Kansanshi Mine

Constance
Hitachi Construction Machinery Co., Ltd. has launched a groundbreaking technological feasibility trial of an ultra-large full battery rigid frame dump truck at First Quantum Minerals Ltd.’s Kansanshi copper and gold mine in Zambia. The trial, initiated in June 2024, aims to validate the operational capabilities of the battery-powered dump truck under real mining conditions, including its performance in tasks such as traveling, turning, and braking, as well as assessing battery charging and discharging cycles. First Quantum, known for its expertise in trolley system operations and technological development, is facilitating this… Read More Here
Mozambique Invites Zambia to Collaborate on New Hydroelectric Project 3 Mining in Zambia Economy Hydro power plant 

Mozambique Invites Zambia to Collaborate on New Hydroelectric Project

Constance
Mozambique has extended an invitation to Zambia to participate in a new hydroelectric power plant project, akin to the Cahora Bassa plant in Tete province. The project is currently in its early stages, and Mozambique seeks Zambia’s involvement in this initiative. President Filipe Nyusi made the invitation during his visit to Zambia, where he signed legal agreements and discussed bilateral cooperation between the two countries. The discussions, dominated by issues of mutual cooperation, reaffirmed the shared aspirations of Mozambique and Zambia. During the meetings, both presidents expressed their mutual interest… Read More Here
Vedanta Resources Nears Reacquisition of KCM Amid Expected Surge in Demand 4 Mining in Zambia Copper 

Vedanta Resources Nears Reacquisition of KCM Amid Expected Surge in Demand

Constance
Vedanta Resources Ltd. is on the verge of reclaiming control of the Konkola Copper Mine in Zambia and plans to rapidly increase output in anticipation of soaring demand in the coming years. Billionaire Anil Agarwal’s firm is prepared to pay $250 million to settle the mine’s debts, enabling access to the asset once more, according to Chris Griffith, head of Vedanta’s base metals unit, in a recent interview in London. Konkola Copper Mines was placed under provisional liquidation in 2019 after the previous government accused its owner of misrepresenting expansion… Read More Here
BeMetals Announces $7M Private Placement Led by B2Gold 5 Mining in Zambia Copper Gold Press Release 

BeMetals Announces $7M Private Placement Led by B2Gold

Constance
Vancouver, British Columbia – BeMetals Corp. (TSXV: BMET, OTCQB: BMTLF, Frankfurt: 1OI.F) (the “Company” or “BeMetals”) has announced it intends to complete a non-brokered private placement offering of up to 70,000,000 units (the “Units”) at a price of $0.10 per Unit (the “Offering”) for aggregate gross proceeds of up to $7,000,000. Each Unit will consist of one common share in the capital of the Company (a “Share”) and one-half Share purchase warrant. Each whole Share purchase warrant (a “Warrant”) will entitle the holder thereof to purchase one additional Share at… Read More Here
IMF gives Zambia $385 million for Drought Response 6 Economy Mining in Zambia 

IMF gives Zambia $385 million for Drought Response

Constance
On 27 June, the International Monetary Fund granted Zambia an additional $385 million to the Extended Credit Facility (ECF) to provide financial aid the country after a six-month long drought. This came after both Zambia and the IMF reached agreements following the latter’s third review of Zambia’s 38-month ECF, after which both the management and Executive Board of the IMF approved it as well. This agreement has resulted in a further approval of an augmentation of 293 million Special Drawing Rights. The Zambian government are greatly appreciative of the IMF,… Read More Here
President Hichilema Inaugurates the 24th Annual General Meeting of the African Trade Insurance Agency 7 Mining in Zambia Economy Events & Expos 

President Hichilema Inaugurates the 24th Annual General Meeting of the African Trade Insurance Agency

Constance
President Hakainde Hichilema inaugurated the 24th Annual General Meeting of the African Trade Insurance Agency (ATIDI) in Livingstone on June 26. During the event, President Hichilema highlighted ATIDI’s mission to become a premier pan-African risk mitigation institution, aiming to transform Africa into a prime location for trade and investment. He emphasized the importance of regional cooperation and integration to alter Africa’s economic trajectory. President Hichilema, who previously served as the Chairperson of the ATIDI Board, underscored the organization’s commitment to fostering economic sustainability across the continent. This vision was echoed… Read More Here
The Impact of Lobito Atlântico Railways on the Benguela Railway Corridor 8 Transport and Logistics Angola Mining in DRC Mining in Zambia 

The Impact of Lobito Atlântico Railways on the Benguela Railway Corridor

Constance
The management of the Benguela Railway (CFB) by the consortium Lobito Atlântico Railways (LAR), Trafigura, and Mota-Engil is expected to significantly enhance Angola’s Gross Domestic Product (GDP), contributing between $1.6 billion to $3.4 billion annually over the next 30 years. This projection was shared by LAR administrator Ottoniel Manuel during a discussion on the Girassol television channel under the theme, “The Impact of the Lobito Corridor on the Angolan Economy and the SADC Region.” Manuel outlined the consortium’s ambitious plans for the railway’s future operations and its economic implications. Manuel… Read More Here
G-7 Summit Pledges Boost to African Infrastructure Investment 9 Infrastructural Development Angola Mining in DRC Mining in Zambia Transport and Logistics 

G-7 Summit Pledges Boost to African Infrastructure Investment

Constance
At the G-7 summit in Puglia, Italy, global leaders reaffirmed their commitment to bolstering Africa’s infrastructure to spur economic growth and development on the continent. Co-chaired by US President Joseph Biden and Italian Prime Minister Giorgia Meloni, a special meeting focused on infrastructure development under the G7’s Partnership for Global Infrastructure and Investment (PGII), aligning closely with Italy’s Mattei Plan for Africa. Private sector representatives from Italy and the US, heavily invested in African ventures, also participated, emphasizing the importance of public-private collaboration. Italy made a significant announcement, pledging an… Read More Here
Namibia and Zambia Forge Path to Seamless Trade with Katima Mulilo OSBP Agreement 10 Mining in Zambia Transport and Logistics 

Namibia and Zambia Forge Path to Seamless Trade with Katima Mulilo OSBP Agreement

Constance
Namibia and Zambia have taken a significant step towards enhancing regional integration and trade facilitation by formalizing their commitment to establish a One-Stop Border Post (OSBP) at the Katima Mulilo Border Post. Signed in Katima Mulilo, this bilateral agreement aims to streamline cross-border operations, combining immigration and customs procedures into a single process to reduce time and costs associated with border crossings. Representing Namibia, Zambezi Regional Governor Lawrence Sampofu, and Zambia’s Minister of Commerce, Trade and Industry, Chipoka Mulenga, underscored the agreement’s importance in fostering closer economic ties between the… Read More Here

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