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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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Jubilee Metals licence reinstated

New minister of Mines and Minerals has reinstated Jubilee Metals Group’s mining licence for the Kabwe project. In a previous announcement project operator, BMR Group reported that they received a letter from the Mining Cadastre Department of Zambia. Government had terminated the mining right of the Kabwe operation in February …

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Jinchuan’s profits surges on higher cobalt, copper prices

Chinese miner and metals trader Jinchuan Group International Resources has reported net profit fivefold bigger than a year earlier due to higher cobalt and copper prices. Jinchuan, which operates the Ruashi copper and cobalt mine, in the Democratic Republic of Congo, and the Chibuluma copper mine, in Zambia, posted net …

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Slow start for Kagem’s emeralds auctions

Kagem Mine has sold a total of US$10.8 million at the company’s auction in India recently. According to the company proceeds from will be fully repatriated, with all royalties due paid on the full sales prices achieved at the auction. The auction was of predominantly commercial quality rough emeralds mined …

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SA steel industry continue to face challenges

Allied Steelrode recently announced that the fluctuating primary pricing threatens the mettle of South Africa’s steel industry. According to industry sources, much of this can be attributed to the extreme volatility of the primary pricing. “This level of volatility poses an enormous and very urgent challenge to the entire sector,” …

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KZN eager to cement bilateral trade with Zambia

South Arica’s KwaZulu-Natal (KZN) has set its eyes on Zambia as a potential investment area. Next month Trade & Investment KwaZulu-Natal (TIKZN), KZN investment promotion arm will welcome 12 companies from the province to explore business opportunities in Zambia. “KZN companies are eager to meet with their Zambian counterparts who …

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Banks must support the mining sector – Gabaraane

Stanbic Bank Zambia says mining is an expensive business that needs stable long-term support from the financial sector. Speaking at the Mining Indaba recently Leina Gabaraane is Chief Executive of Stanbic Bank Zambia further said growing any business needs capital both for asset investment and day-to-day expenses. And the mining …

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Zambia among countries to enjoy mining upturn

Africa’s mining sector is facing the best prospects in over a decade favoured by sustained commodity price growth and reduced costs. “The centrality of mining to the development of the continent means that 2018 is likely to be a watershed year in Africa’s ongoing growth story,” Standard Bank Mining and …

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Jubilee buys 29% stake in BMR

Jubilee Metals Group has acquired a 29.01% interest in the enlarged issued share capital of BMR Group for £500 000 cash. The acquisition increases Jubilee’s interest in the Zambian Kabwe project to 57.41%, subject to Jubilee’s election to execute the Kabwe project. “The acquisition secures Jubilee the right to a …

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Cobalt expected to be in short supply as battery metal demand grows

Analysts have suggested that cobalt will be the battery metal with the tightest supply/demand fundamentals in future. The demand for cobalt is being driven by the continued growth in the electric vehicles sector, which is resultantly driving the demand for this coveted metal. In light of the future fundamentals of …

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