Mining in Zambia - Copperbelt Katanga Mining

Mining in Zambia Electricity News in Brief

Nationwide Power Outage Hits Zambia

November 25, 2024November 25, 2024 Constance

Zambia experienced a nationwide power outage on Sunday due to a “power system disturbance,” according to the state-owned utility company, Zesco. The incident occurred at approximately 18:15 GMT, resulting in a complete loss of power across the country. Zesco stated that efforts to address the unplanned outage were underway, with the restoration of power supply in progress. Further updates on the cause of the disturbance and the timeline for full restoration are expected. Read More Here

Mining in Zambia Corporate News Emeralds

Gemfields’ November Emerald Auction Nets $16.1 Million Amid Market Challenges

November 24, 2024November 24, 2024 Constance

Gemfields has reported revenues of $16.1 million from its November 2024 higher-quality emerald auction. The auction, held online from November 4–21, achieved a 70% sales rate, with 141,084 carats sold out of the 200,460 carats offered across 43 lots. The average price per carat was $113.96, reflecting mixed market dynamics. Adrian Banks, Managing Director of Product & Sales at Gemfields, acknowledged the auction’s mixed outcomes: “Top-quality lots achieved bids close to record levels, but the overall result was disappointing due to weaker and fewer bids for lower-quality grades.” The emerald… Read More Here

Mining in Zambia Corporate News

FQM Empowers Local Businesses with Over K3.4 Million in Grants

November 24, 2024November 24, 2024 Constance

First Quantum Minerals (FQM), through its Kansanshi Mining operations, has disbursed over K3.4 million in grants to 13 cooperatives under the Tujipamo Multi-Purpose Project. This initiative underscores FQM’s commitment to fostering local economic development and sustainable community growth. Launched in 2022, the Tujipamo Project aims to empower small businesses and enhance socio-economic resilience. The grants will provide essential support for cooperatives, enabling them to scale their operations and drive long-term impact. Speaking at the grant handover ceremony, North-Western Province Permanent Secretary, Colonel Grandson Katambi (Rtd), commended FQM for partnering with… Read More Here

Sponsored Content Electricity Mining in Zambia

Strengthening Zambia’s Economy with Reliable Power Solutions Across Sectors

November 21, 2024November 21, 2024 Constance

Zambia’s ongoing energy crisis presents a significant challenge to economic stability, impacting the productivity and viability of key sectors, including manufacturing, mining, agriculture, and commercial enterprises. Frequent power outages disrupt critical operations, reduce output, and hinder economic growth. Recognising the need for dependable power solutions, DGC Africa has formed a joint venture with Talisman Hire to establish Talisman Hire Kitwe. This collaboration offers both generator rentals and sales to provide businesses with reliable, adaptable power solutions that mitigate the impacts of the country’s energy shortages, helping sustain essential operations across… Read More Here

Mining in Zambia Copper

Zambia’s Govt Reaffirms Commitment to Mining Sector Growth Amid Strong Copper Production

November 21, 2024November 21, 2024 Constance

Zambia’s government has reiterated its commitment to creating a favorable investment climate in the mining sector, citing impressive increases in copper production as evidence of the success of its policies, according to Canadian miner First Quantum Minerals (FQM). This affirmation followed a recent visit by government officials, including the Ministers of Finance, Mines, Information, and Labour, to FQM’s Kansanshi and Trident mining operations. The visit underscored a significant rise in copper production, which is helping Zambia move closer to its ambitious target of producing 3 million tons of copper annually… Read More Here

Mining in Zambia Electricity

Zambia and Zimbabwe Urged to Diversify Energy Sources Amid Kariba Dam Crisis

November 21, 2024November 21, 2024 Constance

A significant drop in water levels at the world’s largest man-made reservoir, the Kariba Dam, has left Zambia and Zimbabwe without power for hours, underscoring the need for both countries to diversify their energy sources, according to Zambia’s Energy Minister Makozo Chikote. “The over-dependence on hydropower has exposed the vulnerability of our energy mix,” Chikote said. “This has been a wake-up call, prompting us to consider alternative energy sources,” he added during an energy summit in Victoria Falls on Monday. The Kariba Dam, which provides the majority of electricity to… Read More Here

Mining in Zambia Copper Corporate News Mergers & Acquisitions

Mitsui & Co. Leads Bidding for First Quantum’s Zambian Copper Mines

November 21, 2024November 21, 2024 Constance

Japanese trading giant Mitsui & Co. has emerged as the top bidder for a stake in First Quantum Minerals Ltd.’s Zambian copper mines, outpacing a rival offer from Saudi Arabia’s state-backed Manara Minerals Investment Co., according to sources familiar with the matter. Mitsui’s bid is reportedly higher than Manara’s and involves acquiring roughly a 20% interest in First Quantum’s Sentinel and Kansanshi mines for approximately $2 billion. Negotiations between Mitsui and First Quantum are underway, though no final agreement has been reached, and other outcomes, including selling the stake to… Read More Here

Mining in Zambia New Mining Projects News in Brief

Mufumbwe Residents in Zambia Celebrate Kalengwa Mine Reopening as Economic Game Changer

November 20, 2024November 20, 2024 Constance

Residents of Mufumbwe, North Western Province, have expressed their excitement over the reopening of Kalengwa Mine, calling it a transformative step for the district’s economic future. They believe the mine’s revival will create new business opportunities and generate employment, especially for young people in the area. READ MORE:President Hichilema Reopens Zambia’s Kalengwa Mine After 46 Years Speaking to ZNBC News, the residents thanked President Hakainde Hichilema for bringing development to Mufumbwe. The President is in North Western Province to reopen Kalengwa Mine, Kansenseli Gold Mine, and to commission the Kasajiko… Read More Here

Gold Mining in Zambia New Mining Projects

President Hichilema Commissions Kasenseli Mine

November 20, 2024November 20, 2024 Constance

The commissioning of Kasenseli Mine marks a historic achievement as Zambia’s first government-led gold project, implemented through the Zambia Gold Company in partnership with the Chibwika Chiefdom Development Trust in Mwinilunga. This initiative underscores the government’s dedication to fostering local community involvement and increasing Zambian participation in the mining sector. During the exploration phase, the project has already created approximately 215 jobs, with employment expected to expand to 800 positions in the second phase. An initial investment of K300 million is projected to yield annual production levels of 100 kilograms… Read More Here

Mining in Zambia New Mining Projects

President Hichilema Reopens Zambia’s Kalengwa Mine After 46 Years

November 20, 2024November 20, 2024 Constance

President Hakainde Hichilema has officially reopened the Kalengwa Mine in Mufumbwe, North-Western Province, marking the end of its 46-year closure. Speaking at the reopening ceremony, President Hichilema criticized previous administrations for failing to revive the mine and apologized to the people of Mufumbwe for decades of neglect. He expressed gratitude for their unwavering support of the UPND over 23 years, stating that the reopening of the Euro Africa Kalengwa Mine is a reward for their trust. The President reaffirmed his administration’s commitment to Zambia’s development and highlighted the strategic importance… Read More Here