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Aim-listed Gemfields has announced the finalisation of four debt financing facilities after considering a number of alternatives from various banks. Janet Boyce, Gemfields CFO says the facilities, together with Kagem’s existing revolving credit facility of USD$ 30 million with Barclays Bank in Zambia, provides the company with the necessary funding …
Read More »Zambia’s copper output expected to double next year
Zambia’s copper output will rise by 5.5% to 750 000 t this year and output is expected to double to 1.5-million tonnes in 2017, Mines Minister Christopher Yaluma said recently at the just ended mining and energy expo in Lusaka. Copper production in Africa’s second-biggest producer of the metal was …
Read More »Electra Mining Africa to give local mining sector much needed boost
The South African mining industry is facing another challenging year with slower than expected economic growth, a prolonged and continuing downswing in commodity prices, an increase in short-term volatility, increased pressure on operating models, and regulatory uncertainty. Adding to these challenges is the increased difficulty in raising capital due to …
Read More »Momentum for solar-diesel hybrid microgrids in the Zambian mining industry
In recent years, an ongoing drought has caused a severe power crisis in Zambia. The new analysis “Power crisis and consequences for solar energy in the Zambian mining sector” from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in its role as facilitator of the Project Development Programme and THEnergy …
Read More »Miners find 500-year-old shipwreck filled with gold coins in Namibian desert
The haul is believed to be one of the most significant archaeological finds ever in Namibia Dieter Noli The wreckage of a 500-year-old Portuguese ship filled with gold coins has been unearthed by miners in a Namibian desert. The haul was discovered by diggers from diamond company De Beers and …
Read More »Alecto reports successful explorer, developer transition
Aim-listed Alecto Minerals on Monday said 2015 had proved to be a turning point for the group as it transitioned from an explorer to developer after acquiring the Matala and Dunrobin gold mines, in Zambia. A “clear path” to production was being established in Zambia, with the Africa-focused gold and …
Read More »Mines: Zambia on right track
THE mining industry remains dear to the hearts of Zambians because it is the blood-line through which our country’s economy thrives. While as a country we realise the need to reduce dependence on copper exports as a source of foreign exchange, by diversifying the economy, the fact still remains that …
Read More »$60m boost to Zambia power grid
Mining is poised to receive a spinoff benefit from Monday’s announcement that the power grid in Zambia is to be boosted by a $60-million investment. In this latest transaction, Standard Chartered bank has partnered with the United States Agency for International Development (USAID) to provide a long-term loan to the …
Read More »SADC to Commission 3000 MW of New Power in 2016
Member states of the Southern African Development Community (SADC) plan to commission new power projects that will add 3059 megawatts of electricity this year as the region targets to ensure that it meets its energy needs by 2020. According to the Southern African Power Pool (SAPP), which coordinates the planning, …
Read More »Claim against Vedanta, KCM given the green light to proceed in court
A legal claim on behalf of 1 826 Zambian villagers against global diversified metals and mining company Vedanta Resources and its Zambian subsidiary Konkola Copper Mines (KCM) has been given the go-ahead by a High Court judge to proceed in the UK courts. The judgment, handed down on Friday by …
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