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Bank of Zambia to Launch New Currency Family in March 2025 1 Mining in Zambia Economy 

Bank of Zambia to Launch New Currency Family in March 2025

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The Bank of Zambia has announced the introduction of a new series of currency, set to launch on March 31, 2025. The updated currency family includes six banknotes (K500, K200, K100, K50, K20, and K10) and six coins (K5, K2, K1, 50N, 10N, and 5N). The alpha code (ZMW), numeric code (967), and currency symbol (K) will remain unchanged, preserving the value of the currency. The new banknote designs draw inspiration from Zambia’s rich heritage and natural beauty, featuring the African Fish Eagle, six of the country’s key waterfalls, and… Read More Here
Zambia Raises Interest Rate to Stabilize Kwacha and Curb Inflation 2 Mining in Zambia Economy 

Zambia Raises Interest Rate to Stabilize Kwacha and Curb Inflation

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The Bank of Zambia has raised its base interest rate by 0.5 percentage points, increasing it from 14% to 14.5%, in an effort to stabilize the Kwacha and control inflation. The decision was announced following the Monetary Policy Committee (MPC) meeting held from February 10-11, with Governor Dr. Denny Kalyalya stating that the move aims to steer inflation back within the target range of 6-8% over the medium term. “The relatively higher inflation outlook for 2025 is largely driven by recent inflationary pressures and the continued depreciation of the exchange… Read More Here
SADC Member States Address Kasumbalesa Border Issues for Improved Regional Trade 3 Mining in Zambia Mining in DRC Transport and Logistics 

SADC Member States Address Kasumbalesa Border Issues for Improved Regional Trade

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From February 4-7, representatives from Southern African Development Community (SADC) Member States convened in Harare to address the persistent challenges at the Kasumbalesa Border Post, a vital trade hub between Zambia and the Democratic Republic of Congo (DRC). The meeting, organized by the SADC Secretariat and supported by the German Federal Ministry for Economic Cooperation and Development (BMZ), aimed to find lasting solutions to congestion, trade facilitation delays, infrastructure shortcomings, and security concerns affecting truck drivers and the broader trade community. Attended by officials from 10 SADC Member States—including Angola,… Read More Here
Ivanhoe Electric Plans $60 Million Public Offering for Arizona Copper Project 4 International Copper Corporate News New Mining Projects 

Ivanhoe Electric Plans $60 Million Public Offering for Arizona Copper Project

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Ivanhoe Electric (NYSE American: IE) (TSX: IE) is set to raise $60 million through a public offering of units priced at $5.85 each. The funds will be allocated toward advancing the company’s Santa Cruz copper project in Casa Grande, Arizona. The offering will issue approximately 10.25 million units, each consisting of one common share and one warrant with an exercise price of $7.00 per share. On Wednesday, the stock traded at $6.09 in New York, reflecting a 3% intraday gain and a market capitalization of $733.6 million. Initially targeting $50… Read More Here
South Africa Halts Rescue Operation for Trapped Illegal Miners Over Safety Concerns 5 International Mining safety 

South Africa Halts Rescue Operation for Trapped Illegal Miners Over Safety Concerns

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South African authorities suspended rescue efforts on Monday for an unspecified number of illegal miners trapped in an abandoned mine shaft west of Johannesburg, citing safety risks. Rescue teams descended 70 meters into the shaft but were forced to halt operations when conditions became too dangerous. “The search and rescue operation has been terminated for now due to the safety of the rescuers,” said Robert Mulaudzi of Johannesburg Emergency Services, adding that such operations are highly complex. The miners became trapped after a pulley system used for entry and exit… Read More Here
African Pioneer Secures £420,000 to Advance Namibia Copper-Gold Project 6 New Mining Projects Copper Gold News in Brief 

African Pioneer Secures £420,000 to Advance Namibia Copper-Gold Project

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London-listed African Pioneer has raised £420,000 from existing and new shareholders to advance its Ongombo copper-gold project in Namibia and support activities in Zambia and Botswana. The funds will be used to analyze gold distribution and its association with copper and magnetite quartzite, assess orebody-wide gold distribution, and plan drillholes in underexplored areas. Additionally, external mining and resource consultants will refine resource estimates for open-pit mineralization and provide recommendations for infill drilling to enhance the overall resource base. The capital will also support discussions with a preferred mining contractor for… Read More Here
Mali’s Gold Production Drops 23% Amid Government-Miner Dispute 7 International Gold 

Mali’s Gold Production Drops 23% Amid Government-Miner Dispute

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Mali’s industrial gold production fell 23% in 2024, dropping to 51 metric tons from 66.5 tons in 2023, according to the country’s mines ministry. This marks the first time in over three years that output has fallen below 60 tons. Mali, one of Africa’s top gold producers, hosts industrial operations run by major international companies, including Barrick Gold, B2Gold Corp, Resolute Mining, and Hummingbird Resources. However, tensions between the government and mining firms have contributed to the decline. A ministry report released on Friday revealed that the production figure excludes… Read More Here
Chile’s Copper Output Rises 4.9% in 2023, Codelco and Escondida Lead Growth 8 Copper International 

Chile’s Copper Output Rises 4.9% in 2023, Codelco and Escondida Lead Growth

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Chile, the world’s largest copper producer, recorded a 4.9% increase in copper output in 2023, reaching 5.5 million metric tonnes, according to data released by the Chilean Copper Commission (Cochilco) on Friday. December production saw notable gains, with state-owned Codelco’s output rising nearly 22% to 172,700 tonnes. Meanwhile, BHP’s Escondida mine, the world’s largest copper operation, reported a 51% surge in December production, reaching 133,600 tonnes. However, not all major producers saw growth. Collahuasi, operated jointly by Glencore and Anglo American, experienced a 32% decline in output, producing 41,200 tonnes… Read More Here
ZCCM-IH Highlights Mining and Energy Growth at Mining Indaba 2025 9 Mining in Zambia Copper Events & Expos 

ZCCM-IH Highlights Mining and Energy Growth at Mining Indaba 2025

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At the 2024 Indaba conference in Cape Town, Zambia showcased its mining sector under the theme “Transforming Tomorrow, Delivering Today.” ZCCM Investments Holdings (ZCCM-IH) Board Chairperson, Kakenewa Muyangwa, reaffirmed the company’s commitment to driving economic development and unlocking Zambia’s mining potential. Speaking at the country showcase, Muyangwa emphasized ZCCM-IH’s pivotal role in shaping Zambia’s economic future. “Our mission is to create value for shareholders, contribute to economic growth, and positively impact the communities we serve,” he stated. Over the past year, ZCCM-IH made significant strides in “delivering today” by unlocking… Read More Here
Three Oil Marketing Companies Secure Contracts Under TAZAMA Pipeline Open Access 10 Mining in Zambia Oil & Gas 

Three Oil Marketing Companies Secure Contracts Under TAZAMA Pipeline Open Access

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The TAZAMA Pipeline Open Access Selection Committee has awarded contracts to three oil marketing companies (OMCs) to supply low-sulfur gas oil to Zambia, marking a significant step in the country’s fuel supply strategy. Indeni Energy Company Limited, Boltt Global Solutions Limited, and a joint venture between Titanium Oil Corporation and ADNOC will begin utilizing the TAZAMA Pipeline in April 2025. According to the Ministry of Energy, each company has been contracted to supply 35,000 metric tonnes of diesel, totaling 105,000 metric tonnes. The contracts are valued at $2.94 million, with… Read More Here

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