News

Konkola Copper Mines (KCM), a Zambia-based producer of the red metal — owned by Vedanta Resources (LON:VED) — has asked 133 workers to take paid leave while the firm reviews its operations. The mining company’s chief executive Steven Din said the move was a result of the ongoing difficulties the …

“Many entities are likely to use the dollar as the currency of choice for transactions, thereby putting more pressure on the demand side,” said analyst Peter Sitamulaho of the local Bonds and Derivatives Exchange. “The kwacha is afflicted by lack of price transparency, lack of liquidity, too few market participants …

This week, following a drop in water levels, Zambia increased cuts in electricity generationfrom hydropower stations at Kariba Dam. As a second consecutive year of low rainfall looms, these power cuts are likely to intensify, and there is a risk that Zesco, Zambia’s largest power producer, may have to disrupt electricity supplies to …

JCB Industrial, part of Eqstra Industrial Equipment (EIE), is to launch a new product line at this year’s BaumaConexpo, which will give mines access to JCB’s world-leading range of telescopic handlers.  Bauma Conexpo Africa takes place from 15 – 18 September 2015 at the Johannesburg Expo Centre. The product, a …

Several miners have been trapped underground at Mopani Copper Mine’s Mindolo operation following a fire at the mine’s power station. The miners, who had reported for a night shift, were in a carriage that takes them underground when the power plant caught fire. A combined team of fire officers from …

THE Energy Regulation Board says it will start penalising mining companies and other large-scale power consumers who are keeping more power than they need. Currently, Zesco and Copperbelt Energy Corporation have scaled down power supply to the mining sector by 30 per cent, resulting in most mining houses reducing production …

Zambia’s kwacha fell by the most in more than six years, reaching a record low against the dollar, as a slump in copper prices and an electricity shortage weigh on the economy. The currency of Africa’s second-biggest copper producer retreated as much as 5.5 percent to 9.4961 per dollar, the …

GROUND Focus Mine yesterday announced that it will lay off 54 workers and cut copper oxide production by over 50 per cent by the end of this week due to massive power cuts and plummeting copper prices. Ground Focus’ decision to cut production and lay off workers comes only two …

JCB Industrial, part of Eqstra Industrial Equipment (EIE), is to launch a new product line at this year’s BaumaConexpo, which will give mines access to JCB’s world-leading range of telescopic handlers.  Bauma Conexpo Africa takes place from 15 – 18 September 2015 at the Johannesburg Expo Centre. The product, a …

Lusaka – Zambia expects slower economic growth and a bigger fiscal deficit this year as weak global demand for copper hits exports, documents released by the Ministry of Finance on Sunday show. Global commodity prices have dropped sharply on concerns that China’s economy is slowing after years of rapid development …