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Recent News

Zambia’s electricity deficit rises to 985MW – Energy Minister

Zambia’s electricity deficit has risen to 985 MW in September from 560 MW in March as water levels in reservoirs at its hydropower station fall due to drought, its energy minister said on Tuesday. In a statement to parliament, energy Minister Christopher Yaluma said the government was taking short and …

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Gemfileds delivers maiden mineral resource, ore reserves for Kagem

Coloured gemstones miner Gemfields has produced the first measured mineral resource and proven ore reserve statement for its 75%-owned Kagem emerald mine, in Zambia. The company on Wednesday said a Competent Persons Report (CPR), produced by consulting firm SRK Consulting, had shown a Joint Ore Reserves Committee-compliant measured, indicated and …

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African Potash secure a $500/t price for fertiliser in Zambia

Aim-listed exploration company African Potash has reached an agreement to establish a sale price of $500/t for 50 000 t of fertiliser product. African Potash executive chairperson Chris Cleverly said the deal would see NPK and urea fertilisers delivered in Zambia at a price that “supported the growth and development …

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China firm awarded contract to build roads in Zambia’s copper belt

  LUSAKA – Zambia’s state Road Development Agency (RDA) on Monday awarded a $492 million contract to a Chinese company to construct and repair roads in Africa’s second-largest copper producer. RDA’s Chief Executive Officer Kanyuka Mumba said after the signing of the contract that China Henan International Cooperation would construct …

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African Copper V Conference

Africa’s copper potential continues to hold the interest of the global mining community. Zambia and DRC are striving to meet higher production targets and supply is growing in countries such as Botswana and Namibia. Progress is being made to overcome the logistical, infrastructure, political and social hurdles, and – despite …

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Zambia to Cut Deficit Next Year Even as Growth Prospects Dim…

Zambia plans to narrow its budget deficit to about 5 percent of economic output next year even after lowering its 2015 growth forecast for the second time since June. The shortfall will shrink from an expected 6.9 percent this year, Deputy Finance Minister Christopher Mvunga said in an interview at his …

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Zambia to end power tariff subsidies for big firms

Zambia’s government will stop supplying cheap electricity to large industries as Africa’s second largest copper producer battles a costly power shortages. The move away from subsidised electricity tariffs for large consumers will happen immediately, while state utility Zesco will source energy from private producers to plug the deficit, government spokesperson …

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Government may fail to collect enough tax from mines in 2015 – EAZ

THE Economics Association of Zambia says there may not be enough mining tax revenue collected by the government this year because the sector is grappling with low copper prices and production.Copper prices on the international market have this year been steadily declining, now trading at around US$5,165 down from over …

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Gemfields lifts FY output

Aim-listed Gemfields’ 75%-owned Kagem emerald mine, in Zambia, delivered 8.1-million carats of emerald and beryl in the quarter ended June 30, lifting output for the full 2015 financial year to 30.1-million carats of emerald and beryl. This was comparable with the 6.2-million carats of emeral and beryl produced in the fourth …

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3000 KCM jobs on the line as the mine suspends operations at the Nchanga underground unit

KONKOLA Copper Mine Plc has written to its workers at Nchanga, informing them that the Chingola-based underground mine will be put on care and maintenance with immediate effect. According to a letter addressed to the employees, KCM stated as follows: “This information must be communicated to all staff by Friday …

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