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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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KCM bids expected-Musukwa

About nine companies are expected to submit bids for Konkola Copper Mines within weeks.   During a media briefing, Richard Musukwa, the Mines Minister made mention that companies from as far as Australia, Canada, China, Russia and Turkey were doing due diligence.   “The bidding process will start once all …

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SA Court called on in KCM dispute

Vedanta Resources recently obtained an ex parte order in the High Court of South Africa permitting the company leave to institute an urgent interim interdict application against Zambia Consolidated Copper Mine-Investment Holdings (ZCCM-IH). The urgent application served ZCCM-IH and provisional liquidator Milingo Lungu for Konkola Copper Mines (KCM) of which …

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Import duty discussions underway

Zambia’s mining giant, Konkola Copper Mines (KCM) is currently holding discussions with the government regarding import duty as plans to step up production are in the pipeline. KCM corporate affairs manager Eugene Chungu earlier alluded that the Nchanga smelter had been idle pending availability of concentrates stocks. Operations at Nchanga …

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CSO records highest inflation rate midyear

According to the data from the Central Statistical Office (CSO), the inflation rate in June this year has increased to 8.6 percent from 8.1 percent recorded in May this very year. The CSO acting Director of Census and Statistics Iven Sikanyiti made mention that this was mainly ascribed to the …

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KAGEM PREDICTS RISE IN EMERALDS DEMAND

  KAGEM Mining has predicted an increase in the demand for Zambian coloured gemstone in the world. Gemfields and Kagem chief executive officer Sean Gilbertson said responsible sourcing of coloured gemstones was receiving increased attention. “Coloured gemstones were progressively becoming more valuable to consumers on the international market compared to …

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Vedanta oppose winding up

Vedanta Resources is strongly opposing appointment of the provisional liquidator and winding up of Konkola Copper Mines (KCM). The company said neither KCM nor Vedanta Resources was notified of the application and accordingly neither had an opportunity to participate in the hearing. Last week, ZCCM Investments Holdings (ZCCM-IH), a state-owned …

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CEC and ZESCO called on by the President

President Lungu has implored Copperbelt Energy Corporation (CEC) and Zambia Electricity Supply Corporation -Zesco to guarantee a smooth transition of the bulk power supply agreement which would come to an end in the year 2020. The power utility firm generates and supplies power in bulk to CEC which in turn …

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Zambia and Angola to seek better trade enhancement ties

The Republican president of Zambia has acclaimed the visit by former African heads of states as very meaningful and encouraging to the government in sourcing for more developmental links with Angola. President Lungu says the two countries have not sufficiently integrated economically hence the need for avenues that will enhance …

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