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AFR sells Chirundu and Kariba valley properties

Australian mining company African Energy Resources (AFR) has sold its Zambian uranium portfolio to GoviEx Uranium Inc. The deal will unify African Energy’s Chirundu and Kariba Valley properties with GoviEx’s Mutanga project, resulting in contiguous tenements containing combined mineral resources of 15.2Mlb U3O8 in the measured and indicated categories and …

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Government plans expatriates clean up

Government has announced intentions flush out foreigners employed in the mining sector to create jobs for qualified Zambians. Kampamba Mulenga, Chief Government Spokesperson says concerns from the labour movement motivated the decision. She said Zambia has well trained mining experts hence the need for mining houses to employ competent and …

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Positive forecast for 2017 economic activities

Stanbic Bank has projected a stronger and more stable economy at the backdrop of the central bank has putting in place various monetary measures to prop up the economy. Victor Chileshe Stanbic Bank’s Head of Global Markets says the current economic trajectory shows that the country is effectively dealing with …

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Scrap property transfer tax for exploration companies – AZMEC

Investors in the mineral exploration sector want exemption from property tax. The Association of Zambian Mineral Exploration Companies (AZMEC) says paying property transfer tax levied at 10 percent from exploration stage of mining dents profit. Geoffrey Mulenga AZMEC President speaking during the 10th AZMEC Explorers Forum  held under the banner: ‘Exploration …

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Govt. foresee positive copper prospects

The rising commodities prices are to spur the country’s copper production, government officials have said. Paul Chanda, Mines permanent secretary said the prospects for 2017 are largely positive. Government projects copper production to exceed 850,000 tonnes on account of recovering prices nearing US$6,000 per tonne. “The commodity prices have shown …

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Zambia’s technical power losses high at 14%; ZESCO and ERB urged to invest in technology that will minimize grid leakages

Zambia Electricity Supply Corporation – ZESCO and Energy Regulation Board – ERB have been urged to invest in technology that will curb technical losses on the power grid. Zambia records technical losses of 14% against the acceptable threshold of 5%, Uni-power Company Trainer said. “Energy losses in Zambia are very …

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Copper price slumps, US dollar strengthens

Copper price on the London Metal Exchange (LME) last week registered its biggest weekly lose with weakness set to extend into this week due to the strong United States (US) dollar. Zambia’s major export earner is expected to trade at about US$4,755 per tonne. Reuters reports that the dollar reached …

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First Quantum Mining propels Zambia’s H1 (YoY) copper productivity 8% higher, full year forecast is 5.4% bullish.

Copper productivity at Kalumbila mine in northwestern province of Zambia Africa’s second largest copper producer Zambia recorded an 8% increase in copper productivity in first half of 2016, Zambia Chamber of Mines said. Zambia’s tonnage increased to 368,366 metric tons from 340,510 metric tons a year earlier. Full year forecast …

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Mbala Power Projects to enhance livelihoods – Zesco

Zesco Limited says completion of its K21 million electricity distribution infrastructure projects in Mbala district will enhance people’s livelihoods since they will now access power to support various developmental projects. In a telephone interview recently, Zesco Mbala area manager, Joseph Kafungu said installation of distribution infrastructure equipment such as sub-stations; …

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ZCCM – IH unleashes major diversification programme

The Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) has embarked on a major diversification programme which will enhance its investment both in the country and abroad, according to sources close to the matter. However the Zambian holding company is still beset with a lot of problems including a running debt with …

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