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Tag Archives: Local nEWS

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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Copper mine to continue production ..

Zambia-based copper miner Konkola Copper Mines (KCM) has affirmed that it has not made a decision to close its Nchanga underground mine or scale down operations at the Nkana refinery, following media reports alleging closures. KCM, a subsidiary of London-listed global diversified natural resources company Vedanta Resources, is one of …

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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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Zambian president may step in to stem kwacha free fall – spokesperson

LUSAKA – Zambia’s president will not allow the copper-exporting country’s currency to collapse and may intervene to regulate markets, a government spokesperson said on Monday, as the kwacha fell to new record lows against the dollar. “The president cannot allow the national currency to collapse because of a false belief …

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Continued power shortages trouble the Zambian economy

This week, following a drop in water levels, Zambia increased cuts in electricity generationfrom hydropower stations at Kariba Dam. As a second consecutive year of low rainfall looms, these power cuts are likely to intensify, and there is a risk that Zesco, Zambia’s largest power producer, may have to disrupt electricity supplies to …

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Miners trapped underground at Mopani Mine in Kitwe

Several miners have been trapped underground at Mopani Copper Mine’s Mindolo operation following a fire at the mine’s power station. The miners, who had reported for a night shift, were in a carriage that takes them underground when the power plant caught fire. A combined team of fire officers from …

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ERB directs mines to free up some electricity

THE Energy Regulation Board says it will start penalising mining companies and other large-scale power consumers who are keeping more power than they need. Currently, Zesco and Copperbelt Energy Corporation have scaled down power supply to the mining sector by 30 per cent, resulting in most mining houses reducing production …

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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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