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JCHX Mining Nears Acquisition of Zambia’s Lubambe Copper Mine 1 Mining in Zambia Copper Mergers & Acquisitions 

JCHX Mining Nears Acquisition of Zambia’s Lubambe Copper Mine

Constance
JCHX Mining is in the final stages of acquiring an 80% stake in Zambia’s Lubambe copper mine from EMR Capital, sources informed Reuters. This move marks another significant acquisition by Chinese firms expanding their footprint in Africa’s copper mining sector. The Shanghai-listed mining services and contracting firm’s deal, nearing completion, had faced potential competition from Abu Dhabi’s International Resources Holding (IRH), which later withdrew its interest. This development has cleared the path for JCHX Mining to proceed with the transaction. Under the agreement, Zambia’s state firm ZCCM-IH will retain a… Read More Here
Zambian Govt Aims for 23,000MW Power Generation by 2050 2 Mining in Zambia Electricity News in Brief 

Zambian Govt Aims for 23,000MW Power Generation by 2050

Constance
The government, through the Integrated Resource Plan (IRP), aims to ramp up power generation to 23,000 megawatts (MW) by 2050, requiring an estimated US$31 billion in financing. Minister of Energy, Peter Kapala, announced at the recent Energy Indaba that the IRP, launched last year, is a strategic long-term initiative designed to meet Zambia’s future energy needs. Mr. Kapala highlighted that the plan includes a target to increase power generation to 6,500MW by 2026, with an initial capital requirement of US$5 billion. SOURCE:Zambia Daily Mail Read More Here
IRH in Talks to Acquire Stake in Vedanta's Zambian Copper Assets 3 Mining in Zambia Copper Mergers & Acquisitions 

IRH in Talks to Acquire Stake in Vedanta’s Zambian Copper Assets

Constance
International Resources Holding (IRH), the mining investment arm of Abu Dhabi’s International Holding Company, is engaged in discussions to purchase a stake in Vedanta Resources’ Zambian copper assets, according to Chris Griffith, Vedanta’s chief executive for base metals. IRH, part of a conglomerate with assets totaling approximately $244 billion, is conducting due diligence on acquiring a stake in Konkola Copper Mines (KCM). This interest underscores IRH’s commitment to expanding its presence in copper mining, as indicated in previous statements to Reuters. Griffith confirmed that besides IRH, other investors have shown… Read More Here
Konkola Copper Mines Announces Salary Delays Due to Cash Flow Issues 4 Mining in Zambia Copper 

Konkola Copper Mines Announces Salary Delays Due to Cash Flow Issues

Constance
Konkola Copper Mines (KCM) has informed its employees that their June salaries will be delayed due to unforeseen circumstances that have negatively impacted the company’s cash flow. This mirrors the situation from last month when the company notified workers that their May salaries would be delayed due to circumstances beyond their control. KCM’s Human Capital Management Acting Vice-president, Prudence Chisakuta, had previously released a statement assuring employees that the challenges faced in May had been resolved and that future payments would be made on time. However, in a notice dated… Read More Here
Zambia Plans to Create Billionaires from Mining While Enforcing Investor Accountability 5 Mining in Zambia Artisanal mining Economy 

Zambia Plans to Create Billionaires from Mining While Enforcing Investor Accountability

Constance
Mines and Development Minister Paul Kabuswe has announced the Zambian government’s ambitious plan to transform the mining industry by creating billionaires and empowering local miners. Speaking at the launch of the 2024 Zambia Mining and Investment Insaka, Kabuswe highlighted the administration’s commitment to supporting Zambian miners and enforcing strict regulations to ensure investor accountability. Kabuswe asserted that under President Hakainde Hichilema’s administration, the government would not tolerate any investor misconduct. “We want to support all Zambians. We want many small-scale Zambians to engage in mining. Our message to artisanal and… Read More Here
Unlock Industrial Excellence: Join the DGC AFRICA Asset Management Solutions Seminar 2024 6 Events & Expos Mining in Zambia 

Unlock Industrial Excellence: Join the DGC AFRICA Asset Management Solutions Seminar 2024

arnbethnic
Kitwe, Zambia — Join industry leaders at the DGC AFRICA Asset Management Solutions Seminar, a premier event dedicated to advancing knowledge and practices in asset management across various industrial sectors. Scheduled for 30-31 July 2024 at the Garden Court Hotel, Kitwe, Zambia, this seminar will offer an exclusive opportunity to learn from top experts and improve operational efficiencies. About the Seminar:This two-day event will feature a series of presentations by esteemed experts who will share the latest advancements and practical strategies in asset management:• Koos Truter will discuss how to… Read More Here
AFC Invests in Kamoa-Kakula, Africa's Largest Copper Deposit 7 Mining in DRC Copper Economy 

AFC Invests in Kamoa-Kakula, Africa’s Largest Copper Deposit

Constance
Kamoa-Kakula is a world-class, high-grade, low-carbon underground copper deposit located on the western edge of the prolific Central African Copperbelt. KINSHASA, Democratic Republic of the Congo, June 26, 2024/ — Africa Finance Corporation (AFC), the leader in infrastructure solutions on the continent, has announced the closing of a $150 million senior loan agreement with Kamoa Copper to support the expansion of the Kamoa-Kakula copper deposit in the Democratic Republic of the Congo. The loan provided by AFC, which acted as the financier and arranger, demonstrates its commitment to supporting the… Read More Here
BHP Withdraws Acquisition Bid for Anglo American 8 Uncategorized 

BHP Withdraws Acquisition Bid for Anglo American

Constance
Mining giant BHP has confirmed that it will not proceed with a firm offer to acquire Anglo American, following the rejection of its £39 billion takeover proposal. Last month, BHP made an unsolicited, non-binding all-share buyout offer to Anglo American. The proposal included plans for separate demergers, requiring Anglo American to distribute its interests in South Africa’s Anglo American Platinum and Kumba Iron Ore to shareholders. Despite later sweetening its bid, BHP’s offer was again declined by the Anglo American board. BHP argued that its offer would provide immediate value… Read More Here
Andrada Mining Sees Production Surge Amid Strategic Expansion Plans 9 International Tin 

Andrada Mining Sees Production Surge Amid Strategic Expansion Plans

Constance
Andrada Mining, listed on AIM and operating in Namibia, has marked a significant 14% quarter-on-quarter increase in saleable tantalum concentrate production to 9 tonnes for the first quarter of its 2025 financial year. This growth is part of the company’s latest operational update released on June 21, which also highlighted positive developments across its tin production and operational efficiency. During the quarter ended May 31, Andrada processed 237,976 tonnes of ore, up from 217,189 tonnes in the same period last year, reflecting a proactive approach to scaling operations. Tin concentrate… Read More Here
Gibb River Diamonds Acquires Uranium Projects in Namibia 10 International Uranium 

Gibb River Diamonds Acquires Uranium Projects in Namibia

Constance
Australian company Gibb River Diamonds has acquired two uranium projects in Namibia, encompassing six exclusive prospecting licenses over an area of 1,828 km². Alongside its ongoing development of the Ellendale diamond project and Edjudina gold project in Australia, Gibb River Diamonds is expanding its portfolio with these strategic acquisitions in the Erongo and Kunene districts of Namibia. The Erongo district is a world-renowned uranium-producing region, hosting significant assets like Paladin’s Langer Heinrich, Deep Yellow’s Tumas deposit, and Elevate Uranium’s Koppies project. Gibb’s Erongo project currently includes two permit applications covering… Read More Here

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