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Copper loses its shine, for now

Plunging copper prices have pushed the copper industry into a quandary, with global demand deteriorating to an even worse extent than many people realise, Bernstein senior research analyst Paul Gait told delegates at the 2016 Investing in African Mining Indaba this week. Gait noted, however, that copper was fundamentally scarce …

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Risk management critical in cyclical sectors

By Boniface Mwila As the commodity price slump drags on, Zambia shares the inevitable pain with the world’s other resource-dependent economies – and is especially hard hit by its ‘mono-commodity’ status as a nation so dependent on copper. The low copper price – which is leading to the closure of …

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Copper, Glencore send Zambian kwacha into freefall

Zambia’s kwacha went into freefall on Monday, hit by a worsening outlook for key export copper as the metal’s price hit a one-month low, amid fears that mining giant Glencore might further rein in its extensive operations in the country. The currency fell more than 17%, its biggest one-day fall …

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ZAMBIA’S METAL EXPORTS INCREASE

THE value of Zambia’s metal exports increased to K3, 967.3 million in August 2015 from K3, 625.7 million in July 2014. The overall contribution of metals and their products to the total export earnings in August and July 2015 averaged 75.1 per cent. Central Statistics Office (CSO) director John Kalumbi …

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Cost-effective submersible pumps replace vertical spindle pumps

The mining sector’s growing need to reduce costs without hindering operational efficiencies or reliability has led to a marked trend towards the use of submersible pumps as opposed to vertical spindle pumps, says pumps supplier Integrated Pump Technology (IPT). The company notes that submersible dewatering pumps offer major advantages over …

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Zambia sets mining royalties at 9%

 Zambia has proposed to set its mining royalties at 9% for both open-pit and underground mines, a source in the presidency said on Tuesday, in an attempt to prevent looming job cuts and mine closures. Zambia’s decision to increase royalties for open-pit mines to 20% from 6% and those for …

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Zambia’s 2015 fiscal deficit to exceed 4.6% of GDP – official

LUSAKA – Zambia’s fiscal deficit will exceed the targeted 4.6% of gross domestic product in 2015 due to weaker copper prices and changes to the mining tax regime, a senior Treasury official said on Friday. Mike Masiye, the director of budget in the ministry of finance, said copper prices had collapsed …

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Government sees end to mine tax impasse

The Ministry of Mines says Zambia is still capable of beating the Democratic Republic of Congo’s copper production output because of the country’s favourable conditions. And the ministry says the ongoing mining fiscal regime impasse that is disturbing the sector will soon be resolved and is sure “everyone will be …

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Murray & Roberts cementation continues to excel at Lubambe copper mine LTD

Murray & Roberts Cementation’s second contract, for the trackless high speed development at Lubambe Copper Mine in Zambia, has been extended by a further two-year period.   The Lubambe Copper Mine which is a joint venture between African Rainbow Minerals, VALE and Zambia Consolidated Copper Mines Investment Holdings, is expected …

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Rail links to help ‘open up’ Zambia and its mining sector

In a land-locked country, Zambia’s mines face long distances when moving their product to ports – and the poor state of the country’s rail infrastructure has made these distances increasingly expensive. So mines will be pleased to hear that government plans to turn Zambia into a ‘regional trade hub’ that …

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