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Construction of the Multi-million dollar Hydro-power stations in Kawambwa to start in March 2019

Construction of the US$770 million Kabwelume and Kundabwika hydro power stations and a transmission power line is scheduled to start in March 2019. When completed and fully operational, the two hydro power stations will generate a total of 163 megawatts (MW). The two projects, which will be undertaken by the …

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First Quantum plans 2 500 layoffs in Zambia over tax hikes

Canada’s First Quantum Minerals (FQM) said recently that it would lay off 2 500 workers in Zambia over plans by Africa’s No.2 copper producer to hike mining taxes. The southern African country plans to introduce new mining duties, replace value-added tax (VAT) with a sales tax and increase royalties, from …

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Government will not allow mine owners to lay off workers with impunity-President Lungu

President Lungu said his administration will not be intimidated by threats from mine owners. The Head of State said this at Southdown airstrip in Kalulushi district upon arrival for a two day visit to the Copperbelt province. President Lungu said the new mine tax regime, which mine owners are using …

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Close to 1,000 miners to lose jobs at Mopani

About 1, 000 miners at Mopani Copper Mines (MCM) are likely to lose their jobs after the mining giant starter its voluntary retrenchment exercise. According to latest correspondence from MCM Chief Services Manager KV Chitoshi and to the people close to the Development , the company is asking employees to …

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Lubambe mine prioritizes safety

Lubambe Copper Mine has procured the first ever self-contained mine Emergency Refuge Chambers in Zambia. The consignment of five refuge Chambers has been procured at a cost of US$ 475,000 from Mine Arc Systems of Australia. Lubambe Mine Communications Manager Loyce Saili said the procurement of the refuge Chambers by …

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Mining forecast remains positive amid new taxes

Fitch Solutions researchers have indicated that recent tax hike announcement by government recently are to prompt downside revision to the country’s copper production forecast. Government recently announced it will expand and increase taxes on mining companies operating in the country, as part of its 2019 budget. This comes after speculation …

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Zambia chamber of mines opposes proposed mining tax regime

Proposed tax changes will make it difficult to invest in Zambia Chamber of mines in Africa’s second largest copper producer has opposed the states proposed mining tax regime. This was contained in a press release issued by the COM on 04 October. More tax regime instability, massive increases, and novel …

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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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Precision networking key to mining efficiency

Paratus Zambia says precision mining, using innovative wireless technology to optimise efficiencies is the future of mining sector according to connectivity specialist. According to the company, the country’s low-grade ore bodies is increasingly looking for economies of scale and ultra-efficient systems in order to remain profitable, and the latest state-of-the-art …

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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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