Mining in Zambia - Copperbelt Katanga Mining

Mining in Zambia Mining safety News in Brief

Four More Bodies Recovered from Sensele Mine Accident

June 5, 2024June 5, 2024 Constance

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

Mining in Zambia Economy Governance

China Monitors Zambia’s Debt Restructuring, Pledges Continued Support

June 4, 2024June 4, 2024 Constance

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

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

June 1, 2024June 1, 2024 Constance

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

Mining in Zambia Copper Mining tax Taxes

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

June 1, 2024June 1, 2024 Constance

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

Mining in Zambia Gemstones

Gemfields Earns $35 Million from Rough Emerald Auction

May 31, 2024May 31, 2024 Constance

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

Mining in Zambia Copper Exploration New Mining Projects

Xtract Resources Expands Copper Exploration Joint Venture in Zambia

May 31, 2024May 31, 2024 Constance

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

Economy Mining in Zambia

Economics Association of Zambia Analyzes Impact of Eurobond Restructuring Deal

May 31, 2024May 31, 2024 Constance

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

Mining in Zambia Copper Events & Expos Technology & Innovation

Zambia Finalizes AI Strategy to Boost National Development

May 30, 2024May 30, 2024 Constance

The Zambian government has completed drafting a comprehensive Artificial Intelligence (AI) strategy, poised to harness the latest technological advancements for national development. Technology and Science Minister, Hon. Felix Mutati, announced that the AI strategy is set to be launched within the next two months. Speaking at a side event during the Copperbelt Agricultural Mining Industrial Networking Enterprise (CAMINEX) in Kitwe, Mr. Mutati underscored AI’s potential to help Zambia achieve its goal of producing three million tonnes of copper annually. He emphasized that AI would significantly enhance exploration efforts and bring… Read More Here

Mining in Zambia Events & Expos

President Hichilema Inaugurates CAMINEX 2024 with a Call for National Development

May 30, 2024May 30, 2024 Constance

President Hakainde Hichilema inaugurated the 2024 Copperbelt Mining, Agriculture, and Industrial Trade Expo (CAMINEX) in Kitwe yesterday, urging Zambians to embrace hard work as a catalyst for national development. The event, themed “Unlocking Opportunities for Growth: Zambia’s Land-Linked Position,” saw the President highlight the crucial role of diligence in driving both individual and collective progress, contributing significantly to food security and economic stability. In his address, President Hichilema stressed the importance of self-improvement as a means to create employment opportunities and foster entrepreneurship, thereby raising living standards across the nation.… Read More Here

Mining in Zambia Events & Expos Technology & Innovation

President Hichilema’s Copperbelt Visit to Highlight Mining and Agricultural Advances

May 28, 2024May 28, 2024 Constance

President Hakainde Hichilema is set to embark on a two-day working trip to Copperbelt Province on May 28th and 29th. During his visit, he will officiate at the 2024 Forum on Technology Empowering Development of the Mining Industry in Luanshya. Copperbelt Province Minister Elisha Matambo announced that the President will also officiate at the Copperbelt Agricultural, Mining, Industrial, and Networking Enterprise (CAMINEX) conference in Kitwe. This conference will provide insights into the progressive steps being taken in the mining industry. Last year’s CAMINEX conference focused on the theme “Reignite, Rebuild,… Read More Here