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Evans Mumba

Cobre Panama project comes to an end

As the construction phase of the large-scale Cobre Panama project of First Quantum comes to an end, the Toronto-listed company is well positioned to meet its “own, very high expectations for the year and years to come”, Cobre Panama GM Tristan Pascall said recently. Following a faster ramp-up, the commercial …

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Backfilling application commences-Mopani

Mopani Copper Mine Plc has preceded with works of backfilling the sinkhole near the South Ore Body (SOB) Shaft in Kitwe after being graded as a safety hazard to informal miners invading it.   The sinkhole is a two hectare caving area within Mopani Copper Mines Plc’s mining rights area. …

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 Manufacturing Sector upgrading a necessity-SMEs  

A survey report by the Small Medium Enterprises (SMEs) competitiveness indicated increased national demand, led by an emerging middle class and greater regional demand through Zambian’s membership in SADC, kept afloat the domestic manufacturing sector.   According to the report, diversifying and upgrading the sector was necessary to achieve the …

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Zambia’s most export July sales Copper Anode-CSO

The Central Statistics Office (CSO) monthly bulletin report for July has indicated that 76.8 per cent of Zambia’s major export sales in June resulted from intermediate goods such as Copper anodes and cathodes. In accordance to the same report, 23.2 per cent of the nation’s total exports resulted from consumer …

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Economic pinch due to international advances

At the first National Economic Summit organized by the Economics Association of Zambia, minister of Finance Dr Bwalya Ng’andu voiced concerns that developments in the international economy had not been supportive to the local economy. At the summit, held in Livingstone, Dr Ng’andu noted that Zambia’s economy has been poorly …

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Anil Agarwal’s 20% Anglo American Shares Sold

The self-made billionaire and one of India’s richest men, Anil Agarwal has sold his stake in Anglo America. As the biggest shareholder of the mining company, Agarwal is reported to have made US$500M before the costs from the deal. Agarwal, through his metals company, Volcan Holdings Plc, began buying into …

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Barrick Gold dispels claims of sale

During a media briefing in Lusaka, Barrick Gold Corporation made a clear pronouncement that speculations about the company’s intention to sell Lumwana Copper Mine are false.   The Chief Executive Officer and President of Barrick Gold Corporation, Mark Bristow rather highlighted its eagerness to continue engaging with the government at …

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Foreign currency payment-miners exempted in Zim

The mining firms have been permitted to pay their utility bills in foreign currency though it is just weeks after the government outlawed foreign currency as legal tender and officially reintroduced the Zimbabwean dollar a decade after it was wiped out by hyperinflation.   Zimbabwe’s Energy and Power Development minister …

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Diversification and discipline needed in Zambia-World Bank

Copper plays a pivotal role in Zambia’s economy yet in recent years, this soft and malleable metal’s value has shown a decrease.   During the launch of the latest World Bank Economic Brief on Zambia titled Wealth Beyond Mining: Leveraging Renewable Natural Capital, it was mentioned that Zambia needs to …

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