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Zambia is watching the events at one of the country’s leading copper producers, Konkola Copper Mines (KCM) following reports that the company needs to be rescued by the state because it was loss making. Vice President Guy Scott told Parliament on February 14 in a ministerial statement accessed by Mining …
Read More »North Western Railway – New Dawn for Zambia’s Mining Industry
Historically, Zambia’s rail transport has been in existence for over 100 years when the first slippers were laid down from Chililabombwe to Livingstone by the British South African (BSA) and Livingstone to Mulobezi-all intended to foster good-reliable transport network. The development of the railway lines to ‘resource rich areas’ like …
Read More »Government to Raise coal tax
Mozambique is close to finalising a new fiscal regime for its mining and petroleum sectors and may raise royalty taxes for coal, its key export commodity, the deputy mines minister said recently. “We are in discussions, so we don’t know what will happen but probably we will change some of them,” …
Read More »‘Approved’ Construction of Kangaluwi Mine in National Park Raises Dust
Pitted differences between 100 Civil Society Groups and the Zambian Government have arisen following an approval for the construction of a new copper mine in Lower Zambezi National Park. Recently the Government approved the construction of Kangaluwi copper mine in lower Zambezi national park, a decision the civil society groups …
Read More »Angola International Mining Fair to take place in April
The fifth edition of the Angola International Mining Fair (FIMA) is due to take place from the 24th to 27th of April, in the capital city at the Luanda International Fair (FILDA) venue, This is according to a recent statement made available by the organisers of the fair. The annual fair is organised …
Read More »Indian Parastatal buys into a natural gas block in Mozambique
ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have completed the acquisition of Videocon Group’s 10 per cent stake in a giant Mozambique gas field for $ 2.475 billion, according to the company statement released yesterday. OVL, the overseas arm of the Indian state-run explorer Oil & Natural Gas …
Read More »Copper Prices rebound on LME
Copper Prices rebound on LME Copper prices on the international metal market have continued to rise, allaying fears from Zambian mining players that the downward trend was a cost on their prospects to make real returns on their investment. The three-month copper price on the London Metal Exchange (LME) went …
Read More »Construction of Changfa’s Mokambo mine in Zambia planned for August 2014, says official
Construction of the Mokambo underground copper mine in Mufulira, a unit of China’s Changfa Resources Limited is expected to start in August this year with an initial investment of about US$500 million, the company says. During recent geological studies undertaken in Mufulira, the company established vast deposits of copper in …
Read More »Traditional Rulers Seek Mineral Royalties from ‘Precious Stone Diggers’ in Zambia
The peace and tranquility that has characterized the Lufwanyama district, the home of precious stones in Zambia, may soon change with the local people now demanding for royalties from investors in the gemstone industry. The Lamba and Lima tribes, who live in the gemstone-prone area, have resolved that all investors …
Read More »Maamba Collieries to commission US$750 million thermal power plant by end of 2014
MAAMBA coal mine limited plans to commission the 150 megawatt thermal power plant before the end of this year at a cost of US$750 million, the company said. According to Maamba Collieries, 65-percent majority owned by Singapore’s Nava Bharat Pvt, the collier is expected to spend US$750 million over the …
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