Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
Global mining company Anglo American said finance director René Médori would retire in 2017 when he reaches the age of 60. Anglo American, which has been struggling with a slump in the price of commodities, said it was beginning a process to appoint a successor, and that Médori would continue …
Read More »Vale writes $2.4bn off its Mozambique coal assets
Brazilian miner Vale has written $2.4 billion off the value of its coal assets in Mozambique over the last year, now valuing its project in the country at $1.73 billion. The operation continues to lose the company half a billion dollars per year, Vale said in its end of year …
Read More »Mozambique coal-fired power project seeks multilateral lender support
A planned coal-fired power plant in Moatize, province of Tete, is seeking more than half a billion dollars in financing from multilateral lenders and export credit agencies, the head of the company leading the project told the media. Saudi Arabia-based ACWA Power is leading the development of the 300 MW …
Read More »Rio Tinto and Savannah mining JV awaiting government approval
Savannah and Rio Tinto plan to start construction of a major new heavy sands mine in southern Mozambique in 2017, but the joint venture they agreed last year is still awaiting approval from the Ministry of Mineral Resources and Energy. The joint venture, to combine Savannah’s Jangamo mining licence in …
Read More »Diamond Firms Get 90 Days to Wind Up in Zimbabwe
The Zimbabwean Government has given diamond mining companies in Chiadzwa and Chimanimani 90 days to remove their equipment and other valuables from the mines after it stopped their operations yesterday. The firms whose mining special grants expired and were not renewed will, however, be expected to hand over all diamond …
Read More »South African mining activity remains weak
South Africa’s mining production increased 3.3% year-on-year for 2015, following a decrease of 1.4% in 2014, according to data from Statistics South Africa. Output for December, however, decreased by 0.3% year-on-year, with negative growth rates recorded for iron-ore, down 17.1%; copper, down 15%; manganese ore, down 8.7%; diamonds, down 8.5%; …
Read More »Dangote Group struggles with ‘extremely tight’ forex situation
Dangote Group, Nigeria’s largest company, is struggling with a constricted supply of foreign-exchange in the West African country and is relying on its international cement operations and export-credit agencies to get around the shortage. “The forex situation is extremely tight in Nigeria,” group executive director Devakumar Edwin said on Wednesday. …
Read More »Democratic Republic of Congo ‘will not change mining code
DEMOCRATIC Republic of Congo’s Mines Minister Martin Kabwelulu said he has dropped plans to change the mining code in Africa’s biggest copper producer after opposition from mining companies. “The mining code, which is currently in place, will stay in place,” Mr Kabwelulu said at a speech to investors in Cape …
Read More »ZCCM-IH announces plans for an ambitious diversification programme
ZCCM Investment Holdings PLC (ZCCM-IH) says it has embarked on an ambitious diversification programme which will see its interests extended to the manufacturing, power generation, agriculture and real estate sectors. ZCCM-IH Chief Executive Officer, Dr. Pius Kasolo told delegates to the 2016 Investing in African Mining Indaba in Cape Town …
Read More »M&R, EGMF to set up DRC company at Mining Indaba
Underground mining services company Murray & Roberts (M&R) Cementation, together with Enterprise Generale Malta Forrest SA (EGMF), will be setting up a joint company in the Democratic Republic of Congo (DRC) to serve the mining industry in Central Africa. Johannesburg-based M&R Cementation, with a range of capabilities covering the full …
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