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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 …

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 …

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 …

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 …

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, …

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 …

Aim-listed exploration company African Potash has reached an agreement to establish a sale price of $500/t for 50 000 t of fertiliser product. African Potash executive chairperson Chris Cleverly said the deal would see NPK and urea fertilisers delivered in Zambia at a price that “supported the growth and development …

Three African countries – Namibia, Botswana and Ghana – made it into global minerals industry advisory firm Behre Dolbear’s 2015 most attractive mining investment destinations survey for the second consecutive year. The 25 countries considered in this year’s survey, as in the past, were ranked based on seven criteria, namely …

ZAMBIA will be the second largest contributor to global copper by 2018, the latest International Copper Study Group (ICSG) report indicates. According to the report, Global copper production capacity at mine level is expected to grow at an average annual rate of six per cent to reach 27.4 million tonnes …

  LUSAKA – Zambia’s state Road Development Agency (RDA) on Monday awarded a $492 million contract to a Chinese company to construct and repair roads in Africa’s second-largest copper producer. RDA’s Chief Executive Officer Kanyuka Mumba said after the signing of the contract that China Henan International Cooperation would construct …