Mining in Zambia - Copperbelt Katanga Mining

Vedanta Resources Nears Reacquisition of KCM Amid Expected Surge in Demand 1

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

Mining in Zambia Copper Gold Press Release

BeMetals Announces $7M Private Placement Led by B2Gold

June 29, 2024June 29, 2024 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

Economy Mining in Zambia

IMF gives Zambia $385 million for Drought Response

June 28, 2024June 28, 2024 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

Mining in Zambia Economy Events & Expos

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

June 28, 2024June 28, 2024 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

Transport and Logistics Angola Mining in DRC Mining in Zambia

The Impact of Lobito Atlântico Railways on the Benguela Railway Corridor

June 28, 2024June 28, 2024 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

Infrastructural Development Angola Mining in DRC Mining in Zambia Transport and Logistics

G-7 Summit Pledges Boost to African Infrastructure Investment

June 27, 2024June 27, 2024 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

Mining in Zambia Transport and Logistics

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

June 27, 2024June 27, 2024 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

Mining in Zambia Transport and Logistics

Zambia and TradeMark Africa Enhance Nakonde Border Post

June 27, 2024June 27, 2024 Constance

In a significant effort to bolster cross-border trade between Zambia and Tanzania, the Government of Zambia and TradeMark Africa (TMA) have officially handed over the site for upgrading the Nakonde border into a One-Stop Border Post (OSBP) to the contractor. This marks the commencement of extensive improvement works aimed at alleviating congestion and facilitating smoother trade flows along the crucial Dar es Salaam Corridor. The ceremony, attended by representatives from the Zambian and UK governments, TradeMark Africa, and the contracted construction firm, underscores the collaborative nature of this pivotal project,… Read More Here

Mining in Zambia Artisanal mining Gold

Senior Chief Shakumbila Urges Govt Action on Illegal Gold Mining in Mumbwa

June 27, 2024June 27, 2024 Constance

Senior Chief Shakumbila of the Sala-ila people in Shibuyunji and Mumbwa districts has revealed that approximately 22 kilograms of illegally mined gold are flown out of the district each month. Speaking during a courtesy call from Minister of Mines and Minerals Development Paul Kabuswe at his palace, the traditional leader lamented the widespread illegal mining activities in the district. “Every month, around 22 kilograms of gold are taken out of our district and sold to private buyers at exorbitant prices, with minimal benefits for our communities,” he stated. The government… Read More Here

Mining in Zambia Battery Metals Economy

ZAMZINC Achieves $10 Million Investment Milestone in Lusaka Manganese Plant

June 27, 2024June 27, 2024 Constance

ZAMZINC Industry Company Limited, registered with the Zambia Development Agency (ZDA) in 2021, has already realized over $10 million of its committed $50 million investment in a manganese processing plant in Lusaka. The plant, located in the Lusaka Multi-Facility Economic Zone (LS-MFEZ), currently produces 200 tonnes of manganese daily, with plans to increase production to 300 tonnes per day. During a visit by a ZDA team, ZAMZINC General Manager Mavis Chintu reported that production is progressing smoothly. The plant operates 24 hours a day in three shifts and employs 250… Read More Here