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Category: Mining in Zambia

CEC Mining in Zambia Electricity News in Brief 

Copperbelt Energy Corporation to Address Mining Power Shortfall with Imports

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
Vedanta ready with $250 million funding to pay KCM Creditors 1 Press Release Copper Mining in Zambia 

Vedanta ready with $250 million funding to pay KCM Creditors

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
ProMarks and Trafigura sign MOU with the Angolan government 2 Angola Mining in DRC Mining in Zambia Partnership Transport and Logistics 

ProMarks and Trafigura sign MOU with the Angolan government

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
UAE's IRH Withdraws Bid for Vedanta's Zambian Copper Mines 3 Copper Mining in Zambia 

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

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
ENGIE Energy Access Launches Construction of 15 Solar Mini-Grids in Zambia 4 Mining in Zambia Energy Green Energy 

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

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
ZCCM Investments Holdings Declares K243 Million Dividend for 2023 5 Mining in Zambia 

ZCCM Investments Holdings Declares K243 Million Dividend for 2023

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
Vedanta Regains Control of Konkola Copper Mines in Zambia After Court Approval 27 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 28 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 29 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

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