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Tag Archives: business

CEC Plc cut ties with CEC Africa

Copperbelt Energy Corporation (CEC) Plc has mooted plans to delink its pan-African power assets developer CEC Africa from the CEC group. Julia Chaila, company secretary said the decision yet to get approval from shareholders is expected to improve CEC Plc financial performance. CEC Africa is currently reeling from operation challenges …

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Zambian project achieves one-million lost-time injury free work hours

Mining and exploration company Group R Mining & Exploration Zambia achieved one-million work hours without a lost-time injury (LTI) at its Synclinorium shaft expansion projectfor its owner, Zambian-registered copper miner Mopani Copper Mines. Group R is the operating partner of Mauritius-based private capital and corporate advisory company Africa One Holdings …

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Copper Prices Jump Higher on Supply Cuts, China Data…

Copper prices soared on Tuesday to their biggest daily percentage gain in 2½ years, as Glencore PLC’s decision to shut mines and an increase in Chinese imports prompted investors and analysts to ratchet back estimates for global supplies. The rally forced many investors to scramble to close out bearish bets, which amplified the …

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Copper Is Catalyst for Glencore Rescue Plan

Glencore PLC Chief Executive Ivan Glasenberg’s rescue plan for his company could hinge on the fortunes of a single metal: copper. The company’s decision to close two unprofitable African copper mines would take 400,000 tons of copper production out of the market over the next 18 months, and helped send prices for the industrial metal …

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Mopani closure an ambush we’ll not accept – Musukwa

IT is an ambush for Mopani Copper Mines, the strongest allies of the PF government, to suspend  mining operations in Zambia for at least 18 months, says mines deputy minister Richard Musukwa. Swiss commodity trader and miner Glencore AG has announced that it is immediately suspending mining in Zambia and …

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Glencore set to cut copper output by 400kt and cobalt at Mopani, Katanga…

Cathode output at Glencore’s African copper businesses is set to be cut by 400,000 tonnes as a result of operational reviews at Katanga Mining and Mopani Copper Mines, the Switzerland-based miner and trader said on Monday September 7. “This will include the suspension of production at Katanga and Mopani for …

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Mines advised to place new focus on innovation and technology …

The mining industry is “far behind” in terms of using technology and innovation to deal with industry-related challenges such as dropping ore grades, high-energy costs and lack of reliable energy supply, says bespoke mining enterprise software engineering solutions developer Stone Three Mining Solutions CEO Louis Marais. He says Stone Three …

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Zambia worried by slowdown in China, low copper price

Zambia is worried about the economic slowdown in China, a key consumer of its copper, and expects a further decline in revenue due to sharply lower prices for the commodity, a senior official said on Wednesday. “We are worried because China is one of the major consumers of our copper,” …

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Devaluation of Yuan rattles African economies…

THE shock waves from China’s surprise yuan devaluation are ricocheting through African economies, sending currencies tumbling and stoking anxiety that the continent’s biggest trading partner might be losing its appetite for everything from oil to wine. The rand hit a 14-year low of R12.94 to the dollar on Monday, extending …

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Gemfields Record Increases in Emerald Production

Gemfields Plc’s Emerald production rose in the second quarter which ended in December 31 2012 to 69 percent after higher grades were recorded at its Kagem Mine Lufwanyama on the Copperbelt from 3.9 million carats in 2011 to 6.6 million carats. “Emerald grade for the quarter was 288 carats per …

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