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Category: Mining in Zambia

Lobito Corridor's Road Network in Angola Set To Receive €381.5 Million Upgrade 1 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Lobito Corridor’s Road Network in Angola Set To Receive €381.5 Million Upgrade

Constance
The U.S.-Africa Business Summit in Dallas, Texas, announced a €381.5 million investment to upgrade Angola’s road network, focusing on the Lobito Corridor. The Africa Finance Corporation (AFC) will contribute €85 million, with the rest funded by the Export-Import Bank of the U.S. and the U.S. Private Export Funding Corporation. Additional support comes from Standard Chartered Bank, Conduril, and Acrow. This project will improve 186 bridges and boost agriculture by enhancing access to mineral-rich regions, aiding in the diversification of Angola’s economy. Following last week’s U.S.-Africa Business Summit in Dallas, Texas,… Read More Here
African Copper Powerhouses Set to Meet Growing Global Copper Demand 2 Mining in DRC Copper Mining in Zambia 

African Copper Powerhouses Set to Meet Growing Global Copper Demand

Constance
The leading copper producers globally in 2023 were Chile, Peru, the DRC, China, and the United States, together accounting for 59% of worldwide output, or around 21.5 million tonnes. Amid economic recovery and market speculation, copper prices surged, hitting about $10,000 per ton. Investment banks, like Goldman Sachs, anticipate further price increases due to persistent supply deficits expected from 2024. Africa, particularly the DRC and Zambia, is also emerging as a significant player in copper production, with the potential to fill the growing supply gap projected to reach 10 million… Read More Here
Yeo and GEI Power Partner to Develop Solar Power Plant in Zambia 3 Mining in Zambia Energy 

Yeo and GEI Power Partner to Develop Solar Power Plant in Zambia

Constance
Yeo, a Turkey-based company, has partnered with local firm GEI Power to construct a 60 MW photovoltaic solar power plant in Zambia’s Choma district. The project will also include a 20 MWh battery storage system. During the construction phase, the project will employ 150 local workers, with an additional 50 seasonal jobs created once the plant is operational. This initiative demonstrates a strong commitment to local engagement and corporate social responsibility (CSR), contributing to the economic development of the Choma district. The solar power plant aims to address Zambia’s need… Read More Here
Vedanta Engages Stakeholders for KCM Transition Updates in Kitwe 4 Mining in Zambia Copper 

Vedanta Engages Stakeholders for KCM Transition Updates in Kitwe

Constance
Vedanta Resources, a global mining firm, recently convened a significant engagement session with key stakeholders in Kitwe, Zambia. Led by Malcolm Mewett, the KCM Designate Chief Operating Officer, and Dr. Moses Banda, the Country Director for Vedanta Resources, the meeting aimed to update leaders from Mine Workers Unions and the Zambia Mine Suppliers Association on the ongoing transition process concerning Konkola Copper Mines (KCM). The discussions centered on various aspects, including updates on the creditors’ scheme of arrangement, progress on capital raising efforts, and the crucial issue of bridge financing.… Read More Here
Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition 5 Copper Gold Mining in Zambia 

Barrick Prioritizes Copper Expansion Amid Renewable Energy Transition

Constance
The global copper industry has long grappled with underinvestment, hindering its ability to meet the rising demand driven by the worldwide transition to renewable energy. However, Barrick, recognized the critical importance of copper in the greening of the global grid and made its expansion a strategic priority following the merger with Randgold five years ago. Barrick’s thorough review of its global assets identified two significant opportunities: the Lumwana mine in Zambia and the dormant Reko Diq project in Pakistan. The Lumwana mine, once struggling, underwent a remarkable transformation under Barrick’s… Read More Here
Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining 6 Mining in Zambia 

Zambia Revenue Authority Faces Defamation Suit from Mashrock Mining

Constance
Mashrock Mining Limited finds itself embroiled in a legal dispute with the Zambia Revenue Authority (ZRA), alleging defamation and demanding $5 million in damages to its business reputation. The heart of the matter, filed in the Lusaka High Court, revolves around an article published on the official ZRA page, later disseminated across various media platforms. Titled “ZRA unearths tax evasion scheme involving over K82 million,” the article implicates Mashrock Mining Limited in alleged tax evasion activities. The mining company contends that these publications occurred amidst ongoing investigations by the ZRA… Read More Here
IMF Mission Acknowledges Zambia's Economic Progress Amid Challenges 7 Mining in Zambia Economy 

IMF Mission Acknowledges Zambia’s Economic Progress Amid Challenges

Constance
A recent visit from the International Monetary Fund (IMF) to Zambia has underscored the nation’s significant advancements in fiscal adjustments, bolstering social sector spending, and efforts toward debt sustainability. Conducted as part of the third review of the Extended Credit Facility (ECF) Programme, the mission took place from April 24 to May 7, 2024, with a focus on various economic facets, including the impact of drought on the economy. Despite encountering global adversities, Zambia has demonstrated notable strides in fiscal management and investment in social sectors, as highlighted by the… Read More Here
FQM WORKS WITH ZESCO TO EASE ENERGY PRESSURE 8 Mining in Zambia Copper Electricity Press Release 

FQM WORKS WITH ZESCO TO EASE ENERGY PRESSURE

Constance
First Quantum Minerals (FQM) is working with ZESCO to help source imported power and enable the state utility company to reduce the burden on the national grid. As Zambia’s largest copper producer, FQM operates the Kansanshi and Trident mines in North-Western Province, making a critical economic contribution to national export earnings, government revenue and employment. The company currently buys an average of 224,000 megawatt hours of electricity every month from ZESCO, which recently invoked the force majeure clause in its power supply agreements with some mines, signalling a need for… Read More Here
Mingomba Mining Limited Welcomes International Talent to Zambia 9 Mining in Zambia Mining Personality New Mining Projects News in Brief 

Mingomba Mining Limited Welcomes International Talent to Zambia

Constance
Mingomba Mining Limited, a collaboration between KoBold Metals and ZCCM Investments Holdings Plc, has announced the appointment of Mr. Kalimina Mwinga PMP as Project Control Manager and Mr. Fanuel K Banda, P.E., PMP as Chief Mining Engineer. Both Mwinga and Banda bring a wealth of international experience to their roles, having spent over a decade honing their skills in South Africa and the USA, respectively. Commenting on the appointments, KoBold Metals Africa CEO Mfikeyi Makayi stated, “We aren’t seeking the best talent solely within Zambia; rather, we are committed to… Read More Here
White House Urges Responsible Mining in DRC and Zambia for Global Energy Transition 10 Mining in Zambia Mining in DRC 

White House Urges Responsible Mining in DRC and Zambia for Global Energy Transition

Constance
A senior White House official emphasized the necessity of encouraging mining projects in countries such as the Democratic Republic of Congo (DRC) and Zambia to secure a reliable and sustainable global supply of critical minerals essential for combating climate change. Amos Hochstein, White House senior adviser for energy and investment, stressed the significance of these mineral-rich nations in meeting the soaring global demand for clean energy components and infrastructure to support advancements like artificial intelligence, offering an alternative to China’s dominance. Hochstein highlighted the need for initiatives similar to President… Read More Here

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