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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 …
Read More »Gemfields finalises $65 million debt financing facilities to fund expansions
Aim-listed Gemfields has announced the finalisation of four debt financing facilities after considering a number of alternatives from various banks. Janet Boyce, Gemfields CFO says the facilities, together with Kagem’s existing revolving credit facility of USD$ 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 …
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