The Central Statistics Office (CSO) monthly bulletin report for July has indicated that 76.8 per cent of Zambia’s major export sales in June resulted from intermediate goods such as Copper anodes and cathodes. In accordance to the same report, 23.2 per cent of the nation’s total exports resulted from consumer …

At the first National Economic Summit organized by the Economics Association of Zambia, minister of Finance Dr Bwalya Ng’andu voiced concerns that developments in the international economy had not been supportive to the local economy. At the summit, held in Livingstone, Dr Ng’andu noted that Zambia’s economy has been poorly …

The self-made billionaire and one of India’s richest men, Anil Agarwal has sold his stake in Anglo America. As the biggest shareholder of the mining company, Agarwal is reported to have made US$500M before the costs from the deal. Agarwal, through his metals company, Volcan Holdings Plc, began buying into …

During a media briefing in Lusaka, Barrick Gold Corporation made a clear pronouncement that speculations about the company’s intention to sell Lumwana Copper Mine are false.   The Chief Executive Officer and President of Barrick Gold Corporation, Mark Bristow rather highlighted its eagerness to continue engaging with the government at …

The mining firms have been permitted to pay their utility bills in foreign currency though it is just weeks after the government outlawed foreign currency as legal tender and officially reintroduced the Zimbabwean dollar a decade after it was wiped out by hyperinflation.   Zimbabwe’s Energy and Power Development minister …

Copper plays a pivotal role in Zambia’s economy yet in recent years, this soft and malleable metal’s value has shown a decrease.   During the launch of the latest World Bank Economic Brief on Zambia titled Wealth Beyond Mining: Leveraging Renewable Natural Capital, it was mentioned that Zambia needs to …

About nine companies are expected to submit bids for Konkola Copper Mines within weeks.   During a media briefing, Richard Musukwa, the Mines Minister made mention that companies from as far as Australia, Canada, China, Russia and Turkey were doing due diligence.   “The bidding process will start once all …

According to the World Wide Fund (WWF), government has cancelled a pre-feasibility study for the Ndevu Gorge Power Project on Luangwa river, proposed by MDH South Africa (Pty) Limited, which would have cost $1.26 billion and generated between 235 and 240 megawatts of power if completed.   The 1,100-kilometer Luangwa …

Vedanta Resources recently obtained an ex parte order in the High Court of South Africa permitting the company leave to institute an urgent interim interdict application against Zambia Consolidated Copper Mine-Investment Holdings (ZCCM-IH). The urgent application served ZCCM-IH and provisional liquidator Milingo Lungu for Konkola Copper Mines (KCM) of which …

Zambia’s mining giant, Konkola Copper Mines (KCM) is currently holding discussions with the government regarding import duty as plans to step up production are in the pipeline. KCM corporate affairs manager Eugene Chungu earlier alluded that the Nchanga smelter had been idle pending availability of concentrates stocks. Operations at Nchanga …