Home / Business (page 12)

Business

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

Zambia’s cobalt exports slump 26 percent – report

Exports of cobalt from Zambia slowed down 26.4 percent last year compared to a year earlier as earnings rose, a report by the ministry of finance says. The slowdown in exports is chiefly attributed to the slowdown in the economic growth of top mineral consumer, China last year compared to …

Read More »

The road to the future, or is it?

Article by Boniface Mwila The business community in Zambia has clearly been dismayed by recent electricity price increases, but it is comforting to know that the hikes are part of a plan to upgrade the energy infrastructure more generally. My last column highlighted the power generation deficit in Zambia, which is …

Read More »

Chicago Pneumatic appoints USS as distributor

International construction equipment manufacturer Chicago Pneumatic has appointed United Sales & Services (USS) as its official distributor in Southern Africa. The company, which operates in South Africa, Zambia and the Democratic Republic of Congo, will now supply its customers in the region with Chicago Pneumatic’s complete portfolio of construction equipment …

Read More »

Zambia’s Mineral Tax Regime

By: Kayombo Musumali. (Mining Engineer) 17th of February 2014, Zambia’s Extractive Industries Transparency Initiative (EITI) report was officially published indicating that Zambia’s mining revenue in 2011 rose 81% to US $1,360 million (ZMW 7.5 billion) compared to the 2010 figures ($750 million) representing an over 30% contribution to government revenue. …

Read More »