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Plunging copper prices have pushed the copper industry into a quandary, with global demand deteriorating to an even worse extent than many people realise, Bernstein senior research analyst Paul Gait told delegates at the 2016 Investing in African Mining Indaba this week. Gait noted, however, that copper was fundamentally scarce …
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 …
Read More »Gold miner Acacia looking beyond Tanzania
Gold mining company Acacia Mining is looking to go beyond Tanzania into Kenya and West Africa. Acacia CEO Brad Gordon told the 2016 Investing in African Mining Indaba that the company’s growth had stemmed from a focus on business fundamentals, people and relationships. Gordon spends a lot of time on …
Read More »Commodity downturn could get worse in 2016, warns Anglo American CEO
Anglo American CEO Mark Cutifani expected 2016 to be the most challenging year for the mining industry, stressing in a copy of a speech delivered at the Investing in Africa Mining Indaba, in Cape Town, on Monday, that things could get worse before getting better. He noted that the depth …
Read More »Zambia resumes issuance of new mining licenses
LUSAKA – Zambia has resumed the issuance of new mining licences, renewal and transfer of rights which it suspended in August last year, its mines minister said on Thursday. Mines minister Christopher Yaluma said the government had since the suspension established new licensing regulations to improve the administration of mining …
Read More »First Quantum evaluating alternative power sources for Zambia mines
Providing an update on power supply to its Zambian operations, dual-listed base metals miner First Quantum Minerals noted on Tuesday that its Kansanshi mine and smelter, as well as its Sentinel project, in the North-Western province, were being consistently provided with a total of about 285 MW, despite the country’s …
Read More »Zambia’s 2015 copper output up despite power woes, weak prices
LUSAKA – Zambia’s copper production inched higher to 711 515 t in 2015 from 708 000 t the previous year mainly due to a new mine owned by Canada’s First Quantum Minerals, the Chamber of Mines said last week. An electricity shortage and weaker copper prices due to slower growth …
Read More »Construction of Mokambo Mine Delayed
The construction of the US$260 million Mokambo Copper Mines (MCM) in Mufulira has delayed due to the late issuance of a land title by the local authority. Changfa Mineral Resources Limited was scheduled to commence construction works at the multi million dollar copper project site next month in Mokambo area. …
Read More »Zambian Govt ask South Africa for 300MW of emergency power
Zambia asked South Africa on Thursday for up to 300 MW of emergency power to ease an electricity crunch that has hit mining companies already grappling with a slide in global copper prices, its embassy said. Energy minister Dora Siliya made the request in a meeting with South African President …
Read More »Intergrated pump technology supplies submersible slurry pumps to Kamoto copper company in DRC
Integrated Pump Technology of South Africa has supplied 20 Bravo 900 submersible slurry pumps and 20 M20 control panels to Kamoto Copper Company (a subsidiary of Katanga Mining) of the Democratic Republic of the Congo (DRC). These heavy duty electrical submersible slurry pumps are the largest of their kind in …
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