Analysts believe that the Mopani deal could compromise Zambia’s drive for debt sustainability required as part of any support from the International Monetary Fund. They said this amid reports that the International Monetary Fund is looking into Zambia’s deal with Glencore, Mopani’s majority stakeholder. Zambia became Africa’s first pandemic-era sovereign …

The latest Zambia Extractive Industry Transparency Initiative (ZEITI) report has indicated that First Quantum Minerals (FQM) contributed the majority of government revenue generated from the extractive sector in 2019. According to the report, the mining giant’s two subsidiaries – Kansanshi Mining Plc and Kalumbila Minerals Ltd, contributed K5.7 billion and …

President Hakainde Hichilema has announced the country’s intentions to build a pipeline to transport oil products from the port of Beira, Mozambique. Supporting the vision, Mozambican transport minister Mateus Magala said a boom in mineral resources in Zambia means that Mozambique should plan to increase the volume of cargo that …

Private equity firm Affirma Capital, development finance institution Norfund, and Norwegian pension fund Kommunal Landspensjonskasse (KLP) have invested $145 million in Zambian independent power producer and transmission company Copperbelt Energy Corporation (CEC). The aim is to build on CEC’s success by strengthening its leadership in the African decarbonisation programme, building …

By: Kweku Frempong, Head of Sales for Aggreko Africa In South Africa, the mining sector uses around one-third of the local power supply,  Asia represents most of the world’s industrial sector growth with energy consumption increases of around 1.7% a year. In the Middle East, mining is forming part of the …

Zambia’s government recently ordered mining company Mwembeshi Resources Ltd to immediately halt all activities on the $494 million copper project it is developing in the Lower Zambezi National Park. Collins Nzovu, the minister of green economy and environment, said the company had violated a number of environmental conditions pertaining to …

The charitable arm of Kagem, Gemfields Foundation has handed over a newly constructed block with three classrooms and a fully equipped solar powered computer lab to Lufwanyama’s Kapila Primary School to enhance the quality of education in the area. Completed at a cost of approximately ZMW 6.9 million (USD 316,000), …

By: Nkosilathi Mudiyu Barrick is investing almost US$2 billion in an expansion project designed to increase the Lumwana mine’s annual production to an estimated 240 000 t of copper, from a 50 million tpy process plant over a 36-year life of mine, elevating this once-unprofitable operation into the front-rank of …

By: NKOSILATHI MUDIYI A new action group intends to help Commonwealth countries, including African member states, rapidly cut emissions of the potent greenhouse gas methane as part of wider efforts to keep rising global temperatures within liveable limits. The country-led coalition was announced at a ministerial event on the margins …

… to entrench macroeconomic stability The International Monetary Fund (IMF) recently completed the country’s second review of the 38-month extended credit facility (ECF) arrangement. According to IMF, the completion of the second review of the ECF arrangement allows for an immediate disbursement of SDR 139.88 million (about US$187 million), bringing …