Hot

Mozambique cuts power supply to ZESCO

Mozambique’s power utility company EDM has cut electricity supply to ZESCO over the past seven months, to recover a $100 million debt. Geta Remigio Manuel Percy, EDM’s director of Economy and Finance told Zitamar News that EDM stopped supply to ZESCO last December for lack of payment after debts which …

Read More »

Electricity tariffs for mines not subsidised

Zambia Chamber of Mines president Nathan Chishimba says electricity tariffs for the mines are not subsidised as perceived by many people, but Zesco Limited finds it cheaper to supply power to those buying the commodity in raw form direct from the transmission network. Mr Chishimba said there has been greater …

Read More »

Scrap property transfer tax for exploration companies – AZMEC

Investors in the mineral exploration sector want exemption from property tax. The Association of Zambian Mineral Exploration Companies (AZMEC) says paying property transfer tax levied at 10 percent from exploration stage of mining dents profit. Geoffrey Mulenga AZMEC President speaking during the 10th AZMEC Explorers Forum  held under the banner: ‘Exploration …

Read More »

Tanzania-Zambia railway set to get $2.8 mln lifeline

Tanzania will pay 6 billion shillings ($2.71 million) to bail out the Tanzania-Zambia Railway Authority (TAZARA), a railway firm that connects Africa’s two biggest copper producers to Tanzania’s Indian Ocean port, a company spokesman said. The loss-making railway line is a key route for copper exports through the Tanzanian port …

Read More »

FQML bemoanes new revised mineral royalty taxes by Government

Zambia’s largest miner First Quantum are up in arms against the revised mineral royalty taxes saying the proposal to review the regime will have devastating impacts on the Country’s Mining Sector and capital investments as well as new projects. Recently, the mining company announced plans to put aside its planned …

Read More »

Copper output in Zambia declines 2 percent-Central Bank

Zambia’s copper outturn has continued to fluctuate-barely days after the country; Africa’s leading copper producer, raised its bar of the red metal on the international metal market, according to the Lusaka-based Bank of Zambia. According to the data by the Central Bank-copper production from Zambia took a downturn-declining 2.5 percent …

Read More »

Renowned actress Kunis ‘heralds’ Zambia’s Gemstone at 2014 Global Golden Awards

Mila Kunis, a renowned actress at the Hollywood, has reaffirmed Gemfield Zambia Limited’s reputation as a global leader and supplier of responsibly sourced coloured gemstones precious metals when she wore emerald jewellery at the 71st Golden Globe Awards on Sunday night in Los Angeles. Kunis, who previously won a Golden …

Read More »