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FOUR miners are feared dead at Mopani Copper Mines in Kitwe after an underground collapse. The accident happened early yesterday at SOB, 3240 metre level. Highly-placed sources identified the victims as Emmanuel Kyongola, Honest Mushota, Arnold Mambwe, all machine operators, and Abel Munthali, a workman. “What happened is that …
Read More »Govt sale of its ZCCM-IH shares pushes LuSE turnover to K581m
THE Lusaka Stock Exchange has posted a huge trade turnover of K581 million due to the massive revenue contributed from the sale of government’s shares in ZCCM-IH. According to the LuSE monthly news bulletin for June 2015, total trade turnover on the local bourse was K581 million, up from K41.7 …
Read More »Zambia’s mining industry says new tax rules will scare away investors
Zambia’s mining industry said on Wednesday that an increase in corporate tax to 35% and other new tax rules will scare away investors and discourage processing to add value, and called for them to be scrapped. Last month Zambia, Africa’s No 2 copper producer, approved a plan to increase the corporate income …
Read More »Zesco aims to cut power by 30% to the mines
LUSAKA – Zambia, Africa’s No.2 copper producer, plans to cut power supplies to mines by up to 30% as early as next week, after water levels at its hydro-electric projects dropped due to drought, industry sources told Reuters on Tuesday. The plan, still under discussion with the industry, will see state-run power …
Read More »Musukwa pledges increased communication with the mines
MINES deputy minister Richard Musukwa says the government is determined to forge communicative linkages with the mining sector to ensure policies are well structured and more predictable. Meanwhile, Mopani Copper Mines scooped seven awards at the Zambia Chamber of Mines mining awards gala in Lusaka. Speaking at the second Zambia …
Read More »Zambia aims to cut power to mines by up to 30%…
Lusaka-Zambia, Africa’s No.2 copper producer, plans to cut power supplies to mines by up to 30% as early as next week, after water levels at its hydro-electric projects dropped due to drought, industry sources said on Tuesday. The plan, still under discussion with the industry, will see state-run power company …
Read More »Gemfields Singapore auction yields $29.3m
Coloured gemstones miner Gemfields earned $29.3-million from the sale of rubies mined at its Montepuez deposit, in Mozambique. The Aim-listed company’s fourth auction of rough rubies from Montepuez, saw 46 companies placing bids, with the auction realising an average price of $617/ct. The auction, which took place from June 16 …
Read More »Govt tells KCM to delay processing of copper concentrate from Chile
LUSAKA – Zambia has asked Vedanta Resources’ Konkola Copper Mines (KCM) to delay the processing of copper concentrate it imported from Chile until it puts in place safety measures to avoid pollution, Zambia’s deputy minister of mines said on Thursday.KCM said on June 3 it had imported its first semi-processed copper …
Read More »Zambia begins rationing electricity supply to mines –
Zambia has started rationing power supply to mines, an industry source said on Tuesday, as Africa’s second-biggest copper producer struggles to meet electricity demand. “They have given us a schedule indicating how much electricity they will supply to us at different times of the day due to the power shortage,” …
Read More »Zambia plans unfinished mineral products export ban
LUSAKA – Zambia, Africa’s No. 2 copper producer, plans to introduce a law banning the export of unfinished mineral products, minister of mines Christopher Yaluma said on Friday.“We want to curb the unnecessary export of unfinished mineral products. We need to get all exports to be beneficiated within the country and …
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