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Zambia Aims to Reclaim Title as Africa’s Leading Copper Producer 1 Mining in Zambia Copper Economy 

Zambia Aims to Reclaim Title as Africa’s Leading Copper Producer

Constance
Finance and National Planning Minister Dr. Situmbeko Musokotwane has expressed confidence that Zambia’s current policies and strategies will enable the country to reclaim its position as Africa’s leading copper producer. Dr. Musokotwane made these remarks during a courtesy call by Barrick Lumwana Country Manager Anthony Malenga in Lusaka. Mr. Malenga announced that the Lumwana super-pit expansion project, valued at $2 billion, will commence in 2025, following the completion of feasibility studies. The expansion is expected to create approximately 2,500 jobs. “In the interim, we will continue to ramp up production… Read More Here
Zambia to Leverage Economic Diplomacy for BEV Initiative Success 2 Mining in Zambia Battery Metals Economy Mining in DRC 

Zambia to Leverage Economic Diplomacy for BEV Initiative Success

Constance
Zambia will utilize its strengthened economic diplomatic capabilities to ensure the effective implementation of the joint Battery and Electric Vehicle (BEV) value chain initiative, according to Minister of Foreign Affairs and International Cooperation Mulambo Haimbe. Speaking on Voice of America’s Nightline Africa, Mr. Haimbe highlighted the impact of Zambia’s economic diplomacy under the New Dawn government on regional stability, peace, and security in the Southern African Development Community (SADC) region. Zambia has partnered with the Democratic Republic of Congo (DRC) to establish a value chain in the electric battery and… Read More Here
emerald Gemstones 

Gemfields Earns $68.7 Million from June Ruby Auction

Constance
London-listed Gemfields Group reported total auction revenues of $68.7 million from the June auction of mixed-quality rough rubies recovered from the Montepuez ruby mine in Mozambique. The auction saw 94 of the 97 lots offered for sale—comprising 217,044 carats—successfully sold, achieving a 97% sales rate. An average price of $316.95 per carat was realized. The rough rubies were extracted by Montepuez Ruby Mining (MRM), a joint venture with Gemfields owning 75% and its Mozambican partner Mwiriti holding the remaining 25%. The proceeds from the auction will be fully repatriated to… Read More Here
Zesco Electricity Mining in Zambia 

Zambia’s Govt Addresses Load Shedding with New Measures

Constance
On June 17, Cornelius Mweetwa, Minister for Information and Media, held a press briefing to update the nation on the ongoing load shedding issues and the government’s response. Mr. Mweetwa began by stating, “The government has been working around the clock to implement measures to mitigate the effects of the drought on power generation, as well as on food and water supplies, which have been severely impacted.” He announced that Zesco will recall at least 100MW of power from the export market for local use within Zambia. Currently, Zesco is… Read More Here
ZCCM-IH Post-Tax Losses Surge to Over K4 Billion in 2023 3 Mining in Zambia Copper Mining tax Taxes 

ZCCM-IH Post-Tax Losses Surge to Over K4 Billion in 2023

Constance
Zambia Consolidated Copper Mines Limited (ZCCM-IH) has reported a significant increase in post-tax losses for the 2023 financial year, reaching over K4 billion (approximately $222 million). According to financial statements reviewed by Zambian Business Today (ZBT), the group faced notable financial challenges in 2023. Post-tax losses rose from ZMW3,786 million ($222.03 million) in 2022 to ZMW4,076 million ($198.59 million) in 2023. The primary factor contributing to this increase was the underperformance of Mopani Copper Mines Plc, which reported a substantial loss of ZMW8.97 billion ($436.94 million). “Mopani’s lower copper production… Read More Here
Lobito Atlantic Railway orders new container wagons to transport goodsvia the Lobito Corridor 4 Transport and Logistics Angola Mining in DRC Mining in Zambia Press Release 

Lobito Atlantic Railway orders new container wagons to transport goodsvia the Lobito Corridor

Constance
Lobito, Angola, 19 June 2024 – The Lobito Atlantic Railway (LAR), the concession holder for the operation, management and maintenance of the Lobito Corridor, has placed an order for 275 new container wagons from South African company Galison Manufacturing for an undisclosed sum. The container wagons will be delivered in three tranches with the first wagons due to arrive in Lobito from the fourth quarter of this year. They will be able to carry 10, 20 and 40 ft long containers, giving flexibility for the load transported. This order is… Read More Here
Italy Joins US and EU in Promoting Sustainable Development Along Lobito Corridor 5 Transport and Logistics Angola Mining in DRC Mining in Zambia 

Italy Joins US and EU in Promoting Sustainable Development Along Lobito Corridor

Constance
On Friday, during the G7 meeting it hosted, Italy committed to joining the US and EU in efforts to promote sustainable development along the Lobito Corridor. This initiative aims to enhance collaboration and mobilize up to $320 million in investments to support core rail infrastructure and related projects, in synergy with the Green Infrastructure Alliance in Africa (AGIA). The Lobito Corridor is a significant railway infrastructure that traverses Angola, the Democratic Republic of Congo, and Zambia, regions rich in minerals and oil. It connects Southern and Central Africa, providing access… Read More Here
Kamoto Cooper Company Extends Tender Deadlines After ARSP Investigation 25 Mining in DRC Mining Supply Tenders 

Kamoto Cooper Company Extends Tender Deadlines After ARSP Investigation

Constance
Managers of Kamoto Cooper Company (KCC) were questioned by Judicial Police Officers from the Regulatory Authority for Subcontracting in the Private Sector (ARSP) for publishing ephemeral and unreliable tender calls on the website www.arsp.cd, which lasted only 48 hours. Following directives from ARSP Director General Miguel Kashal Katemb, the provincial management of ARSP in Lualaba and KCC Mining Company reached a compromise. The agreement extended the tender deadline to 15 days, allowing subcontractors sufficient time to bid and benefit from these market opportunities. Read More Here
19th Edition of DRC Mining Week Focused on Sustainable Practices and Local Transformation 26 Events & Expos Mining in DRC 

19th Edition of DRC Mining Week Focused on Sustainable Practices and Local Transformation

Constance
The 19th edition of the DRC Mining Week commenced on Wednesday, June 12, in Lubumbashi, under the theme “Prioritizing Sustainable Mining Operations and Local Transformation in the DRC.” This significant event brought together government officials and industry leaders to discuss and strategize the future of mining in the Democratic Republic of Congo (DRC) over three days. Organizers aimed to position the DRC as the premier mining destination. “This edition aimed to strengthen the position of the DRC as a leading mining destination. During these three days, we also focused on… Read More Here

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