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Chibuluma Mines Plc says the company has allocated US$ 4.4 million under the rehabilitation programme aimed at restoring the landscape to its original state after the projected closure of the mines in 2022. Although, the mines accounts for less than two percent (13, 300 tonnes of copper in 2015 out …
Read More »China orders Zambian copper
China has ordered to buy about 1,000 tonnes of copper following the agreement which was signed between the two countries, Small Scale Industries Association of Zambia (SSIAZ) has said. Recently, SSIAZ and the China WTO Africa Affairs Trade Promotion Centre (CWTO) signed an agreement to promote trade and investment between …
Read More »Zambia’s first half copper output rises by 8% – Chamber of Mines
LUSAKA – Zambia’s copper production rose by 8% to 368 371 t in the first six months of this year from 340 510 t in the same period last year, the country’s chamber of mines said on Tuesday. Full-year copper production in Africa’s second-biggest copper producer was expected to rise …
Read More »Mopani Mine suspends production after death
Glencore’s Zambian Mopani Copper Mines (MCM) has halted production at all its operations after four miners were killed in separate accidents, a company official said on Friday. MCM on Thursday suspended production at its Mufulira underground mine after three miners were electrocuted, the official, who declined to be named, told …
Read More »FQM’s Sentinel leading future copper mining ventures in Zambia
First Quantum Minerals’ new $2.1-billion Sentinel mine in Zambia is the one of the most-ambitious ventures for the country’s mining industry. This is according to the Zambia Chamber of Mines which states that the Sentinel mine is the single-largest upfront infrastructure investment in Zambia since the Kariba dam. And by …
Read More »Copper outlook dim as macroeconomic challenge looms
The copper price is set to dip during the second half of the year, as poor producer discipline, higher output and lower Chinese demand growth combine for a fifth consecutive year of price decline in 2016, according to a new report by market analysts at Thomson Reuters GFMS. Analysts expected …
Read More »Global copper prices stumble again
Copper prices on the international market yesterday fell for a second consecutive session due to a stronger United States dollar. Yesterday, the dollar gained on the yen as investors unwound safe-haven trades in the wake of the failed coup in Turkey, while a giant takeover bid in the technology sector, …
Read More »Zambia cuts trade deficit by 92% as Copper exports swell
Zambia cut its trade deficit by 92%, a move that is expected to shore up the country’s economic outlook of sustained. The copper rich country recorded a trade deficit in May 2016 valued at K 65.2 Million, representing a 91.5 percent drop in the trade deficit from K765.3 Million recorded …
Read More »Revival of Mokambo Mine on track
Changfa Mining Limited, a Chinese company, has set aside a total of US$200 million to revamp the operations of Old Mokambo Mine to enhance economic activities in the area. The resumption of mining activities at Old Mokambo Mine which was closed in the 60s is anticipated to create about 1,000 …
Read More »Kibo Mining confirms delay in amalgamation of gold projects
Kibo Mining has confirmed that a minor unforeseen delay will set back finalising the definitive agreement with Lake Victoria Gold. Tanzania focused mineral exploration and development company, Kibo Mining said on Tuesday that its Memorandum of Understanding (MOU) signed with Lake Victoria Gold (Lake Victoria) to consolidate the companies’ respective …
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