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Democratic Republic of Congo said recently that Ivanhoe Mines’ sale of a stake in the Kamoa copper mine to China’s Zijin Mining should be suspended until concerns raised by the government can be resolved.Vancouver-based Ivanhoe announced last month that it would sell a 49.5% stake in Ivanhoe subsidiary Kamoa Holding …
Read More »Excalibur hopes for manganese luck in Zambia
Junior explorer Excalibur Mining has its eye on a manganese deposit in Zambia.The ASX-listed junior reported on Thursday that the company would partner with Pinto Minerals to acquire a 75% shareholding in Maybach Mining Services, which holds the early stage production asset.In exchange for its 50% interest in Maybach, with Pinto holding …
Read More »Copperbelt Energy Corporation and South African Old Mutual in talks over $205m project
Zambia’s Copperbelt Energy Corp (CEC) and Old Mutual said they are in talks over a possible investment by the financial services group in a $205-million power station in Africa’s No. 2 copper producer.CEC, the largest supplier of power to mines in the southern African nation, would sell electricity from the …
Read More »Zambia to reduce underground mining royalties to 6%
Zambia’s government will cut mineral royalties for underground mines to 6%, lower than the 9% proposed earlier, the presidency said on Friday.“Mineral royalty tax will be reduced to 6% from the earlier proposed 9%. It will remain at 9% for openpit mines,” presidential spokesperson Amos Chanda told the media.The government …
Read More »Junior miners perceive Botswana as best investment destination
Botswana is the easiest country in which to carry out junior mining activities, a digital vote declared on the first day of the Junior Indaba here on Wednesday.Botswana received the highest vote from the 160 people attending the conference.Botswana at 42% of the digital vote had double South Africa’s 21%, with …
Read More »KCM importing toxic copper concentrates
KONKOLA Copper Mines has started importing copper concentrate from Chile which contains arsenic, a toxic chemical element that causes cancer if exposed to humans in uncontrolled quantities. But the mining company says it has taken the necessary precautions to ensure that “this and all impurities are captured and safely stored …
Read More »Zulu warns mine investors against blackmailing govt with mass layoffs
MINES deputy minister Charles Zulu says investors in mines should not resort to expressing their displeasure with any government policy change by threatening to lay off workers. And Mopani Copper Mines chief executive officer Johan Hansen says what is required most in the mining sector is stability in tax regime. …
Read More »Investor confidence in Zambia very low – Osborne
COPPERBELT Show Society chairman Bill Osborne says investor confidence in Zambia at the moment is very low. And President Edgar Lungu says the country must move away from perceiving mining as a mere source of revenue, and see it as a catalyst for economic transformation. Speaking when President Lungu opened …
Read More »First copper from DRC-CHINA deal due by year end – govt
A joint venture between Democratic Republic of Congo’s (DRC’s) State miner and two Chinese companies, signed under a 2009 “minerals for infrastructure” deal, will begin producing copper before the end of 2015, the DRC’s government said on Thursday.Under the deal Chinese companies pledged to build $3-billion worth of roads, railways, …
Read More »Governor of Congo mining hub Katanga warns against tax hike
The powerful governor of Democratic Republic of Congo’s Katanga province warned on Wednesday against significant tax hikes in a proposed new mining code amid a recent decline in copper prices.The southeastern province accounts for nearly all of the vast central African state’s copper production, which surpassed one-million tonnes for the first time …
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