Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
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 »Rising copper demand to benefit copper mines
As copper prices rise from the 2015 slump to reach highs of $6000 a tonne, analysts are optimistic the trend will continue. Investment research houses like Citi Research and Goldman Sachs have issued bullish reports on copper this year – with Citi predicting the price will hit $7 000 a …
Read More »Minerals, metals demand to rise
World Bank says aluminum, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium demand is expected to rise, as the world works towards commitments to keep the global average temperature rise at or below 2°C. In a report ‘The Growing …
Read More »Government invest in cement plant to diversify economy
Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) and Sinoconst are to build a $548-million cement plant in Ndola. The development is part of efforts to diversify the economy and reduce reliance on the country’s economic mainstay copper mining. President Edgar Lungu said the two companies will raise financing for the project …
Read More »Vedanta’s Zambia operation to Quadruple Copper production in 3years
Vedanta Resources PLC Zambia operation plans to quadruple copper production in the next 3years. Vedandata PLC trading as Konkola Copper Mines produces an average of 100,000 metric tons annually and plans to push it higher to 300,000 – 400,000 metric tons in the next 3 years after it injects $1billion …
Read More »Reinstate clause on mineral revenue
The Centre for Trade Policy and Development (CTPD) has urged Government to reinstate the clause on mineral revenue sharing mechanism (MRSM) in the Mines and Minerals Act to realise the aspirations of the Seventh National Development Plan (7NDP). CTPD acting executive director Isaac Mwaipopo said the 7NDP seeks to improve …
Read More »$12 million sourced for small-scale miners
Goverment has obtained a loan worth US$12 million from African Caribbean Pacific and the European Union (ACP- EU) countries to support growth of small-scale miners in the gemstone sector. Ministry of Mines permanent secretary Paul Chanda told captains of the industry at a business seminar taking place on the side-lines …
Read More »Maamba Collieries plans to increase generation
Maamba Collieries Limited (MCL) is engaging key stakeholders in the mining industry on possibilities of increasing its thermal-generated power plant to 600 megawatts (MW) in view of the growing electricity demand in the country. Last year, President Edgar Lungu commissioned the 300MW of power at MCL and connected to the …
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 »Government, private sector dialogue to improve mining
Chris Yaluma, the country’s mining minister has reiterated that chances of the copper industry recording an upward swing are bright. “Our mining houses have survived a tough three years, and I see a promising, bright outlook,” said Yaluma, opening Zambian International Mining and Energy Conference in Lusaka. Sharing the same …
Read More »