Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
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 …
Read More »JCB to launch telehandler at Bauma
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 …
Read More »Zambia forecasts lower growth
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 …
Read More »Mines advised to place new focus on innovation and technology …
The mining industry is “far behind” in terms of using technology and innovation to deal with industry-related challenges such as dropping ore grades, high-energy costs and lack of reliable energy supply, says bespoke mining enterprise software engineering solutions developer Stone Three Mining Solutions CEO Louis Marais. He says Stone Three …
Read More »Mopani lays off 19 expatriates
NINETEEN expatriate employees at Mopani Copper Mines (MCM) have been laid off after a review of operational requirements for expatriate labour. The 19 were shed off from the list of the mining firm’s expatriates yesterday. MCM public relations manager Cephas Sinyangwe confirmed the development in a statement issued in Kitwe …
Read More »Zambia to Cut Deficit Next Year Even as Growth Prospects Dim…
Zambia plans to narrow its budget deficit to about 5 percent of economic output next year even after lowering its 2015 growth forecast for the second time since June. The shortfall will shrink from an expected 6.9 percent this year, Deputy Finance Minister Christopher Mvunga said in an interview at his …
Read More »Zambia worried by slowdown in China, low copper price
Zambia is worried about the economic slowdown in China, a key consumer of its copper, and expects a further decline in revenue due to sharply lower prices for the commodity, a senior official said on Wednesday. “We are worried because China is one of the major consumers of our copper,” …
Read More »BMR Mining shares surge on latest Zambia approval
BMR Mining (LON:BMR), formerly Berkeley Mineral Resources, saw shares surge in early deals as it took a further step towards processing tailings at a pilot plant in Zambia. The firm wants to extract lead and zinc from the vast tailings deposits at the Kabwe mine. Now the Zambia Environmental Management Agency (ZEMA) …
Read More »Devaluation of Yuan rattles African economies…
THE shock waves from China’s surprise yuan devaluation are ricocheting through African economies, sending currencies tumbling and stoking anxiety that the continent’s biggest trading partner might be losing its appetite for everything from oil to wine. The rand hit a 14-year low of R12.94 to the dollar on Monday, extending …
Read More »Zambia starts importing power from Mozambique
Lusaka, Zambia has started importing 100 megawatts of power from neighboring Mozambique as part of efforts to mitigate a power deficit the southern African nation was currently facing. Zambia is currently facing a 560 megawatts power deficit caused by reduced water levels in the reservoirs for hydro power generation. The …
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