President Hichilema Promises Unity, Law Enforcement, and Economic Recovery 1 Mining in Zambia Economy Governance 

President Hichilema Promises Unity, Law Enforcement, and Economic Recovery

In a significant address to the nation yesterday, President Hakainde Hichilema outlined a comprehensive agenda focused on national unity, justice, and economic prosperity. President Hichilema emphasized Zambia’s heritage as a unified nation, denouncing divisive rhetoric and hate speech. He affirmed the government’s commitment to increasing penalties for theft, including essential infrastructure like electric cables. A landmark decision was announced to incorporate national unity-focused topics into the school curriculum, aiming to combat tribalism and hate speech among the youth. Addressing the rule of law, President Hichilema asserted that no individual, regardless… Read More Here
CTPD Urges Zambia to Develop Comprehensive Oil Exploration and Production Policy 2 Mining in Zambia Exploration Oil & Gas 

CTPD Urges Zambia to Develop Comprehensive Oil Exploration and Production Policy

The Centre for Trade Policy and Development (CTPD) has called on the Zambian government to urgently develop an Oil Exploration and Production (E&P) Policy to attract significant investment in the oil and gas sector. Since the enactment of the Petroleum (Exploration and Production) Act in 2008, Zambia has faced challenges in attracting substantial investment in oil and gas exploration. Despite the country’s potential, geological risks and a lack of funding commitments have hindered progress. Dr. Stephen Kambani, Associate Researcher for Extractives at CTPD, noted that Zambia has conducted three licensing… Read More Here
HARNESSING ZAMBIA’S MINES FOR CLIMATE CHANGE INVESTMENT: A GREEN INITIATIVE TAKES ROOT 3 Mining in Zambia Copper Environment Social Governance (ESG) Press Release 

HARNESSING ZAMBIA’S MINES FOR CLIMATE CHANGE INVESTMENT: A GREEN INITIATIVE TAKES ROOT

Zambia, renowned for its abundant mineral resources, is now emerging as a potential leader in climate change investment. However, in recent years, Zambia’s landscape has not been spared the effects of climate change, from erratic weather patterns to dwindling natural habitats. Amidst these challenges, a beacon of hope emerges: the role of mines as potential investors in climate change programmes. In a ground-breaking move, several mining companies operating within Zambia have begun to recognise their role in combating climate change and have taken proactive steps to invest in sustainable initiatives.… Read More Here
Four More Bodies Recovered from Sensele Mine Accident 4 Mining in Zambia Mining safety News in Brief 

Four More Bodies Recovered from Sensele Mine Accident

Tthe bodies of four miners have been retrieved from tunnels at Sensele Mine, in Chingola as the search continues for over 30 small-scale miners trapped underground since December 2023. Copperbelt Permanent Secretary Augustine Kasongo confirmed the recovery. The four bodies were removed from the same site where 13 bodies and one survivor were previously found. Mr. Kasongo expressed optimism that more bodies will be recovered from sites one and two. Preparations for a mass burial are underway as families work to identify the recovered bodies. SOURCE:znbc Read More Here
China Monitors Zambia's Debt Restructuring, Pledges Continued Support 5 Mining in Zambia Economy Governance 

China Monitors Zambia’s Debt Restructuring, Pledges Continued Support

China is closely monitoring negotiations surrounding Zambia’s debt restructuring and has reaffirmed its commitment to supporting the African nation. At a recent press conference in Beijing, Chinese Foreign Ministry spokesman Mao Ning emphasized China’s leading role in Zambia’s debt relief efforts. He noted that China was the first official creditor to offer debt relief and co-chaired the Committee of Official Creditors, which played a key role in achieving significant progress on restructuring Zambia’s debt. Mao Ning stated China’s intention to continue collaborating with relevant parties to monitor the progress of… Read More Here
Lobito Corridor to Enhance Freight Capacity with 275 New Wagons from South Africa's Galison Manufacturing 6 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Lobito Corridor to Enhance Freight Capacity with 275 New Wagons from South Africa’s Galison Manufacturing

In furtherance of the commitment to invest $455 million in Angola, the Lobito Atlantic Railway—a consortium of Trafigura, Mota-Engil, and Vecturis—has awarded a contract to South Africa’s Galison Manufacturing to supply 275 container wagons over 30 months. This investment, part of a larger procurement plan for 35 locomotives and 1555 wagons, aims to enhance the Lobito Corridor’s freight capacity. The Lobito Atlantic Railway, a consortium of Trafigura, Mota-Engil, and Vecturis, has previously pledged to invest $455 million in Angola, much of which will go towards procuring 35 locomotives and 1555… Read More Here
FQM AFFIRMS COMMITMENT TO ZAMBIA'S GROWTH WITH OVER $727.8M CONTRIBUTION IN 2023  7 Mining in Zambia Copper Mining tax Taxes 

FQM AFFIRMS COMMITMENT TO ZAMBIA’S GROWTH WITH OVER $727.8M CONTRIBUTION IN 2023 

First Quantum Minerals (FQM), has reaffirmed its commitment to transparency and sustainable development in Zambia by announcing US$727.8 million of contributions to the nation in 2023, according to the company’s latest Tax Transparency and Contributions to Government Report.  The report highlights FQM’s contributions to the Zambian economy and local communities through its Kansanshi copper mine in Solwezi, Trident projects in Kalumbila, as well as First Quantum Mining and Operations (FQMO). In 2023, FQM’s Kansanshi contributed US$153.3 million, while FQM Trident contributed US$263 million in taxes and royalties. Of the royalties paid at… Read More Here
Gemfields Earns $35 Million from Rough Emerald Auction 8 Mining in Zambia Gemstones 

Gemfields Earns $35 Million from Rough Emerald Auction

Gemfields Group, a miner and marketer of colored gemstones, generated total revenue of $35 million from an auction of higher-quality rough emeralds held from May 13 to 30. The rough emeralds auctioned were extracted by Kagem, a mine 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia. Out of 46 lots offered, 43 were sold, achieving an average price of $167.51 per carat. “We are very pleased to report robust auction results despite slightly softer market conditions. Today’s result demonstrates that both demand and willingness to… Read More Here
Xtract Resources Expands Copper Exploration Joint Venture in Zambia 9 Mining in Zambia Copper Exploration New Mining Projects 

Xtract Resources Expands Copper Exploration Joint Venture in Zambia

London-listed Xtract Resources has announced an addendum to its joint venture (JV) agreement with consulting firm Cooperlemon Consultancy, significantly expanding their copper exploration efforts in Zambia. This expansion incorporates three additional large-scale exploration licenses in northwest Zambia into the existing JV framework. Previously, the JV focused on large-scale exploration licenses 29123-HQ_LEL and 30459-HQ-LEL, both situated in northwest Zambia. These licenses, along with the newly added ones, lie within the Western Foreland geological district, home to the Kamoa-Kakula deposit, and the central fold and thrust belt. Combined, the five licenses cover… Read More Here
Economics Association of Zambia Analyzes Impact of Eurobond Restructuring Deal 10 Economy Mining in Zambia 

Economics Association of Zambia Analyzes Impact of Eurobond Restructuring Deal

The recent Eurobond restructuring deal between the Government of Zambia and bondholders has garnered significant economic and business interest across the nation. In response, the Economics Association of Zambia (EAZ) has issued a statement providing insights into the matter. Dr. Oswald Mungule, President of the EAZ, announced that bondholders have positively responded to the restructured terms of Zambia’s initial $3 billion Eurobond, which had accrued to approximately $3.98 billion by 2024 due to accumulated interest and penalties. Despite this progress, Zambia’s credit rating remains low, indicating a high credit risk.… Read More Here

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