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First Quantum given time to solve $7.9bn tax row

Government has given First Quantum Minerals more time to complete its analysis of what it owes after it was slapped with a $7.9-billion tax bill. According to the Finance Minister the government has audited major mining companies operating in the country, which include Vedanta Resources and Glencore. “They are doing …

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Oranto Petroleum enters Zambian market

Pan-African explorer Oranto Petroleum is farming into two exploration blocks located onshore Zambia, as part of the company’s first investment in the country. “Oranto Petroleum is committed to an aggressive work program to increase the level of prospectivity in one of the world’s last true frontier markets,” said Prince Aurthe …

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New fuel-filtration solution power haul-trucks

Cummins’ Fleetguard has ensured that a haul-truck fleet achieve use rates of between 85 percent and 90 percent, after previously experiencing operational difficulties relating to substandard fuel qualities, which had reduced the fleet’s run-time capacity to 65 percent. “Since the solution was implemented in June 2017, the mine’s downtime reduced …

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CEC divest from Liquid Telecommunication

The Copperbelt Energy Corporation Plc (CEC) has offloaded 50 percent shareholding in CEC Liquid Telecommunication Limited to Liquid Telecommunications Holdings Limited. CEC is the legal and beneficial owner of 50 percent of the allotted and issued share capital of CEC Liquid Telecom. On completion of the deal Liquid shall procure …

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Katanga Mining – from the frying pan into the fire

Glencore subsidiary Katanga Mining has been served a freezing order against 75% operating subsidiary Kamoto Copper Company (KCC), in the amount of US$2.28 billion. The freezing order was served in the DRC by Ventora Development Sasu, a company affiliated with Dan Gertler and comes just after the local owned mining …

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Zambia’s copper production set to grow, but may be restricted by policy – BMI

Although the growth prospects for Zambia’s mining sector remains positive for this year, amid rising copper prices and improved electricity supply, a worsening regulatory environment may negatively impact on the country’s copper production in the coming years, warns BMI Research. “We expect Zambian copper production growth to accelerate in the …

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Stanbic calls on collective drive for growth

Stanbic Bank has geared up to join forces with mining companies to develop the full potential of the country’s extractive industry. The bank made the promise at its annual Economic and Mining Roadshow in the North-Western and Copperbelt provinces. According to the bank, the engagement brought together various players from …

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Cradle Arc to sell Zambia gold assets to Singa Holdings

Cradle Arc has entered into an option agreement to sell its Matala and Dunrobin gold assets to Singa Holdings Zambia. Through its subsidiary Luiri Gold Mines, Cradle Arc has granted Singa an exclusive option to initially form a joint venture for the operation of the Matala and Dunrobin gold assets. …

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CAMINEX prop up Copperbelt economy

Zambia’s premier Copperbelt agricultural, mining and industrial trade expo – CAMINEX slated for June will showcase the latest – products, machinery, technologies and services. CAMINEX supported by government and industry associations is considered an important trade platform, “It attracts thousands of industry professionals keen to come together in one location …

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Large-scale Cobalt potential discovered at Nyungu in North Western Zambia

ASX-listed Argonaut Resources has announced preliminary details of potential copper and cobalt production at the Nyungu copper-cobalt deposit in North-western Zambia. The Nyungu copper-cobalt deposit is part of the Lumwana West project, located 65 km south of the DRC border in North-western Zambia. Cobalt deposit Existing drilling by Argonaut has …

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