Business

Organisers of Africa’s biggest mining jamboree – Mining Indaba have promised a big and better event in 2018. The event’s new organisers – Euromoney said all stakeholders in the sector have been engaged, returning the event to a deal making forum. Alex Grose, Managing Director for Mining Indaba said new …

Kagem Mining has successful sold high quality emeralds at its auction in Lusaka last week to a local family. Jewel of Africa, the local jewellery manufacturer and retailer successfully bid for a parcel of gemstones for an undisclosed price during the 26th auction, since Kagem began a formal auction process …

Positives economic activities are expected to spur the country’s economic growth, according to finance minister Felix Mutati’s 2018 budget forecast. Mutati said continued rebound is expected to push economic growth to above 4.0 percent for the year 2017, above 3.8 recorded in the previous year. The minister said the key …

AIM-quoted diamond outfit, Firestone Diamonds’ latest diamond sale sold 195,330 carats for US$13.5 million. Firestone’s July and September 2017 diamond sale included the company’s second US$1 million stone, achieving an average value of US$69/ct. According to the company, the average realised value per carat represents the continued lower than expected …

Africa focused miner Lucara Diamond has sold the historic 1,109 carat Lesedi La Rona recovered from the Karowe mine in Botswana in November 2015. Lucara Diamond said the piece has been sold for US$53 million (US$47,777 per carat) to Graff Diamonds. “We are thrilled and honoured to become the new …

Chibuluma Mines’ continued focus to contain cost and improve operational efficiency has recharged the company to profit making. The company’s six month results to June 2017 also attribute positive operation to increase in copper prices. “The notable increase in the average selling price of copper over the period substantially assisted …

Private equity house, EMR Capital, has bought 80 percent stake in Lubambe Copper Mine in Chililabombwe at a cost of US$97.1 million. EMR is a specialist resources private equity management firm with a proven investment track record spanning over 20 years managing investments of over US$2 billion. Lubambe Mine is …

Copper, which is Zambia’s major source of foreign exchange firmed in early Asian trading on Friday, gaining momentum from a positive outlook for Chinese industrial activity. China’s manufacturing activity expanded at the fastest pace in six months in August, buoyed by a surge in export orders and higher prices, according …

International diamond company De Beers Group has announced plans to invest more than US$140 million in marketing this year. The budget is the biggest spend since 2008, as the group focus on generating further consumer demand for diamond jewellery in the leading markets globally. The greatest spend is targeted in …

Right now, it’s little more than a hole in the ground; but six months from now, in the first quarter of 2018, this dusty building site in the North-Western province town of Kalumbila will be a $40-million manufacturing facility producing high-quality mill-balls for mines in Zambia, neighbouring countries and the …