Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
The world’s single largest producing emerald mine – Kagem in Lufwanyama District – looks set to continue benefitting Zambia for the next 25 years, according to an in-depth technical study of its prospects by independent experts. The estimated reserves at the mine reinforce the company’s potential long-term commitment to Zambia …
Read More »Kwacha falls as govt warns on FX reserves depletion
Zambia’s under-pressure kwacha fell on Friday, shedding around 2 percent after the country’s finance minister signalled that interventions that have supported the currency since steep declines on Monday would be scaled back. The kwacha fell more than 17 percent against the dollar on Monday, its biggest one-day fall on record, as the price of …
Read More »Copper at $5,000 per tonne not a disaster, says Kaberuka
DR Donald Kaberuka says Zambia and other African governments must fix economic policies that are leading to massive job losses in the mines. And Dr Kaberuka, the immediate past president of the African Development Bank, says copper prices at $5,000 per tonne is not a disaster that can lead to …
Read More »First Quantum Minerals reports stable power supply to its Zambian operations
Zambia – First Quantum Minerals said on Monday that the Zambian power situation is stabalising enough that it anticipates its Sentinel copper mine, in Zambia’s North Western province to begin commercial-level production by the end of the year. Sentinel, which has been in construction by First Quantum Minerals since June …
Read More »Copper, Glencore send Zambian kwacha into freefall
Zambia’s kwacha went into freefall on Monday, hit by a worsening outlook for key export copper as the metal’s price hit a one-month low, amid fears that mining giant Glencore might further rein in its extensive operations in the country. The currency fell more than 17%, its biggest one-day fall …
Read More »ZAMBIA’S METAL EXPORTS INCREASE
THE value of Zambia’s metal exports increased to K3, 967.3 million in August 2015 from K3, 625.7 million in July 2014. The overall contribution of metals and their products to the total export earnings in August and July 2015 averaged 75.1 per cent. Central Statistics Office (CSO) director John Kalumbi …
Read More »Intrepid accelerates exploration at Zambia target
Minerals explorer Intrepid Mines has mobilised a fourth diamond drill rig to the high-priority Kakozhi satellite target, in Zambia, accelerating a drilling programme aimed at better defining the potential of the prospective Mumbwa copper project. Drilling at Kakozhi had previously focused on testing a coincident soil geochemical and airborne gravity …
Read More »Zambia’s electricity deficit rises to 985MW – Energy Minister
Zambia’s electricity deficit has risen to 985 MW in September from 560 MW in March as water levels in reservoirs at its hydropower station fall due to drought, its energy minister said on Tuesday. In a statement to parliament, energy Minister Christopher Yaluma said the government was taking short and …
Read More »Mopani Mine plans to cut more than 3,800 jobs
Mopani Copper Mines (MCM) has notified the government that it plans to lay off more than 3 800 workers due to lower metal prices and high production costs, government sources said. An electricity shortage in the southern African nation and weaker copper prices have put pressure on its mining industry, …
Read More »Gemfileds delivers maiden mineral resource, ore reserves for Kagem
Coloured gemstones miner Gemfields has produced the first measured mineral resource and proven ore reserve statement for its 75%-owned Kagem emerald mine, in Zambia. The company on Wednesday said a Competent Persons Report (CPR), produced by consulting firm SRK Consulting, had shown a Joint Ore Reserves Committee-compliant measured, indicated and …
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