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Recent News

Chamber publishes a layman’s guide to understanding Mineral Royalty Tax (MRT)

In a bid to improve public understanding of mining taxation, and promote informed comment, the Chamber of Mines today released a report entitled “A guide to understanding Mineral Royalty Tax (MRT)”. The short, 15-page report is available for download here>>>  Guide to Mineral Royalty Tax (ZCM) – Medium Resolution (1) …

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ENRC to cut over 2000 mining jobs in Congo

Kazakh group Eurasian Natural Resources Corporation is cutting more than 2 000 jobs at two mining companies it controls in Democratic Republic of Congo, a union representative said on Wednesday. The company, owned by Eurasian Resources Group, plans to shed 996 jobs at its Boss Mining unit and 1 300 …

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CHIBULUMA MINES PLC SAVES MORE JOBS AND RE-POSITIONS ITSELF FOR SURVIVAL

Chibuluma Mines embarked on a rigorous operations restructuring programme which was aimed at ensuring the survival of the Company. As a consequence of the restructuring, 300 jobs were initially planned to be lost, however, through dialogue with the Government and the workers representatives (Mineworkers’ Union of Zambia), this number reduced …

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Zambia’s 2016, 2017 copper output seen flat at 700,000t

LUSAKA – Zambia’s copper production will be around 700 000 t this year and next year before rising to one-million tonnes in 2018, a top government official said on Monday. Copper production in Africa’s second-biggest producer of the metal inched higher to 711 515 t in 2015 from 708 000 …

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Dangote Group struggles with ‘extremely tight’ forex situation

Dangote Group, Nigeria’s largest company, is struggling with a constricted supply of foreign-exchange in the West African country and is relying on its international cement operations and export-credit agencies to get around the shortage. “The forex situation is extremely tight in Nigeria,” group executive director Devakumar Edwin said on Wednesday. …

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ZCCM-IH announces plans for an ambitious diversification programme

ZCCM Investment Holdings PLC (ZCCM-IH) says it has embarked on an ambitious diversification programme which will see its interests extended to the manufacturing, power generation, agriculture and real estate sectors. ZCCM-IH Chief Executive Officer, Dr. Pius Kasolo told delegates to the 2016 Investing in African Mining Indaba in Cape Town …

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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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M&R, EGMF to set up DRC company at Mining Indaba

Underground mining services company Murray & Roberts (M&R) Cementation, together with Enterprise Generale Malta Forrest SA (EGMF), will be setting up a joint company in the Democratic Republic of Congo (DRC) to serve the mining industry in Central Africa. Johannesburg-based M&R Cementation, with a range of capabilities covering the full …

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Commodity downturn could get worse in 2016, warns Anglo American CEO

Anglo American CEO Mark Cutifani expected 2016 to be the most challenging year for the mining industry, stressing in a copy of a speech delivered at the Investing in Africa Mining Indaba, in Cape Town, on Monday, that things could get worse before getting better. He noted that the depth …

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