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 …

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 …

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 …

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 …

Central African mining company Katanga Mining Limited had begun a review of its business, including operations and expenses, in light of the challenging environment for commodities, Glencore said on Monday. A similar review was under way at Mopani Copper Mines in Zambia, the London-, Hong Kong- and Johannesburg-listed global commodities …

Zambia-focused precious stones miner Gemfields has garnered revenues of $35.14-million from its most recent auction of predominantly rough emeralds extracted by subsidiary Kagem Mining, as well as the sale of amethyst mined by 50%-owned Kariba Minerals. Held in Singapore from August 31 to September 4, the auction followed seven successive …

Konkola Copper Mines (KCM), a Zambia-based producer of the red metal — owned by Vedanta Resources (LON:VED) — has asked 133 workers to take paid leave while the firm reviews its operations. The mining company’s chief executive Steven Din said the move was a result of the ongoing difficulties the …

“Many entities are likely to use the dollar as the currency of choice for transactions, thereby putting more pressure on the demand side,” said analyst Peter Sitamulaho of the local Bonds and Derivatives Exchange. “The kwacha is afflicted by lack of price transparency, lack of liquidity, too few market participants …

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 …

JCB Industrial, part of Eqstra Industrial Equipment (EIE), is to launch a new product line at this year’s BaumaConexpo, which will give mines access to JCB’s world-leading range of telescopic handlers.  Bauma Conexpo Africa takes place from 15 – 18 September 2015 at the Johannesburg Expo Centre. The product, a …