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Category: Mining in Zambia

Suitors Eye Stake in FQMs' Zambian Copper Mines 1 Mining in Zambia Copper 

Suitors Eye Stake in FQMs’ Zambian Copper Mines

Constance
Rio Tinto Group and Saudi Arabia’s Manara Minerals Investment Co., alongside Mitsui & Co. and Sumitomo Corp., are reportedly considering bids for a stake in First Quantum Minerals Ltd.’s Zambian copper mines, according to sources familiar with the matter. First Quantum, open to selling up to 30% of its Zambian assets, including the Sentinel and Kansanshi mines, has attracted interest from potential buyers such as Zijin Mining Group Co. and Jiangxi Copper Co. Shares of First Quantum surged in response to the news. With Zambia contributing significantly to First Quantum’s… Read More Here
UAE's IRH Targets Majority Stake in Vedanta's Zambian Copper Assets 2 Copper Mining in Zambia 

UAE’s IRH Targets Majority Stake in Vedanta’s Zambian Copper Assets

Constance
Abu Dhabi’s International Resources Holding (IRH), backed by the UAE’s prominent conglomerate, is aiming to secure a controlling interest in Vedanta Resources’ Zambian copper assets, signaling a strategic move to strengthen its position in Africa’s copper mining sector. Sources familiar with the matter revealed to Reuters that IRH, a subsidiary of International Holding Company, has proposed a deal surpassing $1 billion to acquire a 51% stake in Konkola Copper Mines plc (KCM), currently owned by Vedanta. IRH’s ambitious bid follows its recent acquisition of a majority share in Mopani Copper… Read More Here
Confronting the China Challenge in Africa: The Lobito Corridor 3 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Confronting the China Challenge in Africa: The Lobito Corridor

Constance
The Lobito Corridor project in Africa is a significant infrastructure initiative aimed at creating a vital trade route. It seeks to connect the mineral-rich Democratic Republic of the Congo (“DRC”) and Zambia to Angola’s Atlantic coast port city of Lobito. This project holds particular interest for some Western nations, potentially serving as a counterpoint to China’s expansive Belt and Road Initiative (“BRI”). China remains a dominant economic force in Africa, having invested $1.8 billion in the first half of 2023 alone, marking a year-on-year increase of 4.4 percent. Chinese investments… Read More Here
African Pioneer Provides Exploration Update on Zambia Licences 4 Mining in Zambia Exploration 

African Pioneer Provides Exploration Update on Zambia Licences

Constance
Exploration and development firm African Pioneer has released an update on exploration activities funded by First Quantum Minerals (FQM) in Zambia. The six-month period ending December 31 saw drilling activities confirming proof of concept for Congo-style mineralization in the licensed areas. The licences, situated within the fold and thrust belt and Western Foreland, are subject to an option agreement between African Pioneer and FQM, held by African Pioneer Zambia, an 80%-owned subsidiary. FQM exercised its option over all four licences owned by African Pioneer Zambia, leading to the completion of… Read More Here
Zambia's Power Utility Declares Force Majeure on Mines' Electricity Supply 5 Mining in Zambia Copper Electricity 

Zambia’s Power Utility Declares Force Majeure on Mines’ Electricity Supply

Constance
Zambia’s state-owned power utility has issued force majeure notices regarding electricity supply to certain mines, as reported by an industry association, intensifying the strain on the copper market amidst unprecedented challenges. According to the Chamber of Mines in Africa’s second-largest copper producer, ZESCO Ltd has informed several members of the organization that it cannot fulfill its supply obligations. However, specific details regarding the affected projects were not disclosed in the statement. The market for semi-processed copper ore, commonly known as concentrates, is currently facing unparalleled tightness, with veteran traders highlighting… Read More Here
ZCCM Investments Holdings PLC Releases Abridged Provisional Unaudited Financial Statements for 2023 6 Mining in Zambia 

ZCCM Investments Holdings PLC Releases Abridged Provisional Unaudited Financial Statements for 2023

Constance
ZCCM Investments Holdings PLC has unveiled its provisional financial statements for the fiscal year ending 31st December 2023, in accordance with the Securities Act No. 41 of 2016. These results encompass the performance of the Company and its subsidiaries, collectively referred to as the ZCCM-IH Group. Overview of the ZCCM-IH Group’s Structure The ZCCM-IH Group encompasses nine companies, each contributing to its diversified portfolio: 1.Mopani Copper Mine PLC 2.Ndola Lime Company Limited (In liquidation) 3.Kariba Minerals Limited 4.Misenge Environmental and Technical Services Limited 4.Mushe Milling Limited (In liquidation) 1.Kabundi Resources… Read More Here
President Hichilema's Initiative Receives Praise for Luanshya Copper Mine Revival 7 Mining in Zambia Copper New Mining Projects 

President Hichilema’s Initiative Receives Praise for Luanshya Copper Mine Revival

Constance
Stakeholders and the business community in the mining sector of the Copperbelt region have commended President Hakainde Hichilema and his government for their efforts in revitalizing Luanshya Copper Mine Shaft 28. Businessman Phesto Musonda highlighted the significance of Shaft 28 as a major source of high-grade copper concentrate and cobalt. He expressed optimism that its full operationalization would lead to the reopening of Chambeshi Metals, positively impacting the economy of Luanshya and the broader Copperbelt through job creation and opportunities for small businesses. The Mine Workers Union of Zambia President,… Read More Here
President Hichilema Commits to Unlocking New Luanshya Mines 8 Mining in Zambia Copper Governance 

President Hichilema Commits to Unlocking New Luanshya Mines

Constance
President Hakainde Hichilema expressed gratitude to the residents of Luanshya and the Copperbelt for their patience as his government works to unlock Shaft 28, now renamed New Luanshya Mines. Speaking at a public rally in Luanshya’s Roan Constituency at Mpatamatu Stadium, President Hichilema reassured the community of his administration’s commitment to improving their livelihoods. President Hichilema underscored his government’s determination to ease the lives of the people of Luanshya and the broader Copperbelt region. He emphasized the importance of unity in fostering development, highlighting the need for collective efforts to… Read More Here
Zambia and China Celebrate Revival of Luanshya Copper Mines 9 Mining in Zambia Copper New Mining Projects 

Zambia and China Celebrate Revival of Luanshya Copper Mines

Constance
Zambia and the People’s Republic of China commemorated the commencement of the dewatering process at the long-dormant Luanshya Copper Mines, affectionately known as Shaft 28, in a groundbreaking ceremony filled with jubilation and hope. This event, hailed as a significant milestone, signifies a new chapter in the enduring relationship between the two nations. President Hakainde Hichilema, speaking at the ceremony, expressed profound gratitude to His Excellency President Xi Jinping, the people of China, and the China Non-Ferrous Metals Corporation (CNMC) for their pivotal investment in revitalizing the once-thriving mine. He… Read More Here
President Hichilema Advocates for EU Investment in Zambia's Mineral Value Addition 10 Mining in Zambia Events & Expos 

President Hichilema Advocates for EU Investment in Zambia’s Mineral Value Addition

Constance
President Hakainde Hichilema has urged the European Union (EU) to explore investment opportunities in Zambia’s mining sector, emphasizing the potential for mutual benefit. Speaking at the EU-Zambia Business Forum held in Kitwe last week, President Hichilema highlighted Zambia’s pivotal role in the future of electric vehicles due to its rich mineral resources. He stressed the importance of value addition through beneficiation, capital provision and advanced technology. “We aspire to embrace cutting-edge technology that will not only add value to our minerals but also propel Zambia into a leadership position in… Read More Here

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