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Category: Mining in Zambia

CEC Renewables Marks Milestone with First Green Bond Coupon Payment 1 Mining in Zambia Energy Green Energy 

CEC Renewables Marks Milestone with First Green Bond Coupon Payment

Constance
CEC Renewables, a subsidiary of Copperbelt Energy Corporation PLC (CEC), has proudly announces its first Green Bond coupon payment of USD 2.4 million. This payment marks the sixth month anniversary of the bond, making it tradeable on the Lusaka Securities Exchange. This milestone underscores the role and viability of Green Bond investments in Zambia and highlights CEC Renewables’ commitment to delivering value to both the country and its investors. In partnership with CEC PLC, CEC Renewables launched Zambia’s first USD 200 million Green Bond Program, successfully issuing the first tranche… Read More Here
Zambia Proposes K41.9 Billion Supplementary Budget to Combat Severe Drought and Manage Debt 21 Mining in Zambia Economy 

Zambia Proposes K41.9 Billion Supplementary Budget to Combat Severe Drought and Manage Debt

Constance
Dr. Situmbeko Musokotwane, Zambia’s Minister of Finance and National Planning, presented the Supplementary Estimates of Expenditure No. 1 of 2024 to Parliament, proposing a K41.9 billion budget to address the severe impacts of the ongoing drought and manage the country’s debt obligations. Dr. Musokotwane detailed the grave situation necessitating this supplementary budget. The drought, described as the worst in nearly sixty years, has affected over 9.8 million people—nearly 48 percent of the population—causing significant crop loss, water scarcity, and power generation issues. The agricultural sector is expected to decline by… Read More Here
TAZARA Suspends Cross-Border Passenger Train Services Amid Operational Challenges 22 Mining in Zambia Transport and Logistics 

TAZARA Suspends Cross-Border Passenger Train Services Amid Operational Challenges

Constance
The Tanzania-Zambia Railways Authority (TAZARA) has announced a significant suspension of its cross-border passenger train operations, effective June 18, 2024, due to a series of operational challenges. This abrupt halt affects the passenger train services running between Kapiri Mposhi in Zambia and Dar es Salaam in Tanzania, a crucial transportation link for many commuters and travelers in the region. In a statement, TAZARA expressed regret over the suspension, underscoring the severity of the challenges faced by the authority. While the specific nature of these operational difficulties was not detailed, it… Read More Here
Zambia to Host Mining and Investment Insaka 2024 23 Mining in Zambia Events & Expos 

Zambia to Host Mining and Investment Insaka 2024

Constance
From October 7 to 11, the Zambian government will host the Mining and Investment Insaka 2024, a conference poised to attract local and international stakeholders from the mining industry. The Minister of Mining and Mineral Development emphasized the government’s commitment to supporting Zambian artisanal and small-scale miners, helping them progress to junior miners and eventually to large mining conglomerates. Artisanal and small-scale mining encompasses a wide range of activities that add value to raw materials, producing goods such as bricks and paving stones for construction, granite and gemstones for retail,… Read More Here
Ndola Launches 105MW Electricity Production to Address Zambia’s Power Deficit 24 Mining in Zambia Electricity 

Ndola Launches 105MW Electricity Production to Address Zambia’s Power Deficit

Constance
Ndola, an energy company, has commenced production of 105MW of electricity to help alleviate Zambia’s power deficit. This initiative is part of a series of short- and long-term strategies announced by the government to tackle the challenges of the electricity shortage. During the official launch of the plant’s production, Energy Minister Peter Kapala encouraged private sector investment in the energy sector. He stated, “Independent power producers, also known as IPPs, are welcome to invest in the energy sector. The government has created a conducive environment for private sector participation. The… Read More Here
Pressure Intensifies on Zambia's Mines Minister to Complete Konkola Copper Mines Transfer to Vedanta Resources 25 Mining in Zambia Copper Economy 

Pressure Intensifies on Zambia’s Mines Minister to Complete Konkola Copper Mines Transfer to Vedanta Resources

Constance
The Minister of Mines and Minerals Development, Honorable Paul Kabuswe, is under increasing pressure to fulfill the government’s promise of transferring control of Konkola Copper Mines (KCM) to Vedanta Resources by June 30, 2024. Advocates for National Development and Democracy (ANDD) have welcomed Minister Kabuswe’s assurance that the legal framework for the KCM-Vedanta transition will be finalized by the end of this month. Executive Director Samuel Banda emphasized the urgent need for KCM to resume operations swiftly to stimulate job creation and business opportunities. “We urge the minister to honor… Read More Here
AI-Driven Transformation Boosts Zambia Revenue Authority's Collection by 60% 26 Mining in Zambia Economy 

AI-Driven Transformation Boosts Zambia Revenue Authority’s Collection by 60%

Constance
The Minister of Technology and Science, Hon. Felix Mutati, has announced that the application of Artificial Intelligence (AI) has significantly enhanced the Zambia Revenue Authority’s (ZRA) revenue collection capabilities, increasing them by 60 percent over the past two years. During a lecture on AI at the University of Lusaka Silverest Campus in Chongwe District, Mr. Mutati highlighted the transformative impact of AI on revenue collection and tax compliance. He emphasized that AI has equipped ZRA with advanced tools that streamline and optimize these processes. “AI is here to stay, and… Read More Here
Nchanga KCM Open Pit Mining in Zambia Copper Economy 

ZUPED Urges Swift Action on Konkola Copper Mines to Revitalize Economy

Constance
The Zambians for Unity, Peace, and Development (ZUPED) has voiced serious concerns about the ongoing inactivity of Konkola Copper Mines Plc (KCM), stressing its detrimental impact on Zambia’s national economy. ZUPED President Ronnie Jere highlighted that the weakening of the kwacha is partly due to decreased revenue from copper exports, directly linked to KCM’s halt in operations. Mr. Jere emphasized that current favorable copper prices on the international market represent a missed opportunity for Zambia to boost production and secure essential foreign exchange. He urged the government to expedite the… Read More Here
Zambia Aims to Reclaim Title as Africa’s Leading Copper Producer 27 Mining in Zambia Copper Economy 

Zambia Aims to Reclaim Title as Africa’s Leading Copper Producer

Constance
Finance and National Planning Minister Dr. Situmbeko Musokotwane has expressed confidence that Zambia’s current policies and strategies will enable the country to reclaim its position as Africa’s leading copper producer. Dr. Musokotwane made these remarks during a courtesy call by Barrick Lumwana Country Manager Anthony Malenga in Lusaka. Mr. Malenga announced that the Lumwana super-pit expansion project, valued at $2 billion, will commence in 2025, following the completion of feasibility studies. The expansion is expected to create approximately 2,500 jobs. “In the interim, we will continue to ramp up production… Read More Here

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