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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 …
Read More »Kenmare secures $100M through capital raising to deleverage balance sheet
Mozambique mineral sands miner Kenmare will pursue a capital raising and debt restructuring to materially deleverage its balance sheet with US$100 million already secured. Subject to agreement with lenders, the plan is expected to result in gross outstanding debt being substantially reduced. The capital raising is expected to be conducted …
Read More »Mine dewatering to cost $100m
CHINA Non-Ferrous Metal Company (CNMC) will spend about US$100 million to dewater shaft 28 at the Luanshya Copper Mines (LCM). Shaft 28, which got flooded in February 2008, holds an estimated 70 million cubic litres of water and will take about three years to drain. Chief executive officer Luo Xingeng …
Read More »‘Compel firms to use local steel’
UNIVERSAL Mining and Chemical Industries Limited (UMCIL) has urged Government to set up regulations that will compel contractors undertaking public projects to use locally produced steel and related products to boost the manufacturing base. Meanwhile, Zambia Development Agency (ZDA) director general Patrick Chisanga says it is saddening to see that …
Read More »Taxing mines is a daunting task
THE government recently introduced a new mining tax regime in the 2015 national budget and the reverberations of this decision are still being felt as various stakeholders express their reactions. For instance, the Chamber of Mines has warned that the new regime is likely to hit investment. One of the …
Read More »Mumbwa exploration yields positive results
INTREPID Mines Limited has produced samples which show the existence of more copper and gold at the company’s Mumbwa projects, chief executive officer Scott Lowe has disclosed. Mr Lowe said once the results from the report have been analysed, Intrepid will do some follow-up drilling. Mr Lowe said in Intrepid’s …
Read More »$200m power project to start soon in Sioma
THE construction of the US$200 million hydro-power station in Sioma is awaiting the conclusion of an implementation agreement between the developer, Western Power Limited, and Government. Western Power Limited chairperson Sipho Phiri said the 60-megawatt (MW) station, is expected to be the largest private sector investment in Western Province. Construction …
Read More »Gemfields achieves record sales price for lower-quality emeralds
Twenty-nine companies placed bids in Aim-listed Gemfields’ second auction of production from its 75%-owned Kagem mine, in Zambia, in the current financial year, with 4.45-million carats of the 5.07-million carats of lower-quality emerald on offer sold, generating $19.2-million. The auction, held in Jaipur, India, from November 18 to 21, marked …
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