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Category: News in Brief

Zambia's Govt Expects Mopani Handover to Boost Kwacha Stability 2 Mining in Zambia Copper Economy News in Brief 

Zambia’s Govt Expects Mopani Handover to Boost Kwacha Stability

Constance
Handover of Mopani Mines to Delta Mining Expected to Bolster Kwacha Stability, says Government Spokesperson Cornelius Mweetwa, the Chief Government Spokesperson, asserts that the transfer of Mopani Copper Mines to Delta Mining Limited will play a pivotal role in further stabilizing the Kwacha against major convertible currencies. Mweetwa emphasizes that the activation of Mopani’s operations will not only contribute to Kwacha stability against the dollar and other convertible currencies but also lead to an increase in copper production. President Hakainde Hichilema is slated to formally hand over Mopani Mines to… Read More Here
ZESCO Negotiates Increased Electricity Imports from Mozambique 3 Mining in Zambia Electricity Energy News in Brief 

ZESCO Negotiates Increased Electricity Imports from Mozambique

Constance
Zambian Energy Minister Peter Kapala announced negotiations between ZESCO and Mozambique’s EDM to increase electricity imports to 120 MW. Currently, Zambia imports 50 to 90 MW from Mozambique and plans to boost it to meet demand. This move, however, will result in a revenue loss of $110 million. Last October, EDM agreed to resume electricity sales to Zambia under a contract potentially reaching 250 MW. The agreement includes firm sales of 50 MW during off-peak hours and an additional 200 MW on a non-firm basis. Additionally, both parties renewed an… Read More Here
ARSP Cancels Three Subcontracts Worth US$1 Billion Due to Legal Violations 4 Mining in DRC Governance News in Brief 

ARSP Cancels Three Subcontracts Worth US$1 Billion Due to Legal Violations

Constance
The Regulatory Authority for Public Procurement (ARSP) has taken decisive action by canceling three subcontract agreements, valued at over US$1 billion collectively, for violations of the law. Among the affected companies are RSN (CREC 7, CREC 9) and International Fourteenth First Congo SARL, both affiliated with SICOMINES shareholders, who were operating as subcontractors for excavation projects within the main company. The third company facing sanctions is BANGDE CONSTRUCTION. These cancellations come as a response to these subcontractors’ failure to comply with legal requirements. Their combined contracts exceeded the stipulated limit,… Read More Here
President Tshisekedi Discusses Eastern DRC Security with Angolan Counterpart 5 Mining in DRC Governance News in Brief 

President Tshisekedi Discusses Eastern DRC Security with Angolan Counterpart

Constance
President Félix Tshisekedi arrived in Luanda, Angola, on Tuesday morning for a one-on-one meeting with his Angolan counterpart to address the security situation in eastern DRC. Upon the Angolan President’s initiative, this closed session in Luanda follows up on the mini-summit on security in eastern DRC held on February 18 in Addis Ababa, Ethiopia, during the 37th Ordinary Session of the African Union Heads of State and Government. During the discussions, the DRC reiterated its stance, emphasizing the immediate withdrawal of Rwandan military troops from Congolese territory, cessation of hostilities… Read More Here
ARSP Cancels Three Subcontracting Contracts Worth Estimated $1 Billion for Law Violation 6 Mining in DRC Governance News in Brief 

ARSP Cancels Three Subcontracting Contracts Worth Estimated $1 Billion for Law Violation

Constance
CRSN (CREC 7, CREC 9) and INTERNATIONAL FOURTEENTH FIRST CONGO SARL are the first two companies affected by this cancellation measure, both held by shareholders of SICOMINES disguised as subcontractors for excavation works within the same main company. The third company sanctioned for the same offense is BANGDE CONSTRUCTION. Despite not being eligible, these three subcontractors alone hold contracts worth over a billion dollars, which constitutes a violation of the law. Therefore, this measure will enable companies with majority Congolese capital to obtain more contracts in line with the vision… Read More Here
Rio Tinto Plane Crash Claims Six Lives, Leaves One Survivor 7 International Mine Safety News in Brief 

Rio Tinto Plane Crash Claims Six Lives, Leaves One Survivor

Constance
Six individuals lost their lives in a devastating plane crash near Fort Smith in Canada’s remote Northwest Territories on on Wednesday, January 24th, according to the NWT Coroner Service. The incident involved a small aircraft transporting workers from global miner Rio Tinto to the Diavik Diamond Mine. Four passengers and two crew members from North Western Air Lease perished, with one survivor being treated and transported to Yellowknife. The Royal Canadian Air Force participated in search and rescue operations, locating the British Aerospace Jetstream near the Slave River. An investigative… Read More Here
Zambian Miners Trapped in Flooded Shaft 8 Mining in Zambia Mine Safety Mining safety News in Brief Safety & Health 

Zambian Miners Trapped in Flooded Shaft

Constance
In a morning incident at Macro Link Mine on the Ndola-Mufulira road, seven miners find themselves trapped in a flooded underground shaft. Augustine Kasongo, Copperbelt Permanent Secretary, confirmed the occurrence, which took place around 07:00 hours, today January 22nd. Among the trapped miners, five are Zambians, and two are Chinese nationals. The mine, currently in its development stage, has suspended operations in response to the emergency. Kasongo revealed that the mine’s safety department is actively engaged in pumping out water as part of ongoing efforts to rescue the stranded miners.… Read More Here
Angola: Government and Rio Tinto sign investment contract today 9 International Contracts & tenders Exploration News in Brief 

Angola: Government and Rio Tinto sign investment contract today

Constance
The second largest metals and mining company in the world, Rio Tinto, signs today 16th January, in Luanda, with the Angolan Government, a mining investment contract for prospecting and exploration of base metals in the province of Moxico. The information was provided by the Ministry of Mineral Resources, Oil and Gas, pointing out as the target of the contract the so-called “Moxico Concession”, which covers an area of ​​9,959 square kilometers. The list of base metals includes ores such as copper, lead, tin, aluminum, nickel and zinc. Rio Tinto, which officially entered Angola… Read More Here
Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme 10 Mining in Zambia Copper News in Brief 

Vedanta Resources Limited Awaits Control of Konkola Copper Mines Post Arrangement Scheme

Constance
Vedanta Resources Limited clarified that it has not assumed managerial control at Konkola Copper Mines (KCM) until the scheme of arrangement concludes. Masuzyo Ndhlovu, Director of Corporate Communications at Vedanta Resources Zambia, explained that the scheme of arrangement denotes a legally approved agreement between a company and its creditors. Mr Ndhlovu elaborated that the scheme encompasses actions like withdrawing the Provisional Liquidator and reinstating the KCM Board. He emphasized that the company’s obligation to settle dues to creditors and employees will commence once all requisite processes are finalized for a… Read More Here

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