News

The Vedanta mining company and its Zambian subsidiary, Konkola Copper Mines, accept all the charges brought against them by local people. Thousands of Zambians filed a lawsuit in 2015 against Vedanta in the UK, claiming responsibility for the contamination of soil and water around its Nchanga copper mine in the …

Glencore announced that its subsidiary, Carlisa Investments Corp. (Carlisa), which holds 81.2% of the shares in Glencore, has entered into an agreement with ZCCM Investments Holding plc (ZCCM) to transfer its 90% interest in Mopani Copper Mines plc (Mopani) to ZCCM, which is the owner of the remaining 10% interest …

Last year, Zambia paid a value-added tax refund of 8.5 billion kwacha ($400 million) to mining firms, the head of the tax authority said recently. After it defaulted on a $42.5 million coupon in November, Zambia, Africa’s second-largest copper producer, is negotiating with creditors to try to get debt relief. …

Namibian political scientist and international relations specialist Dr Ndumba Kamwanyah says the recently consummated African Continental Free Trade Area (AfCFTA) would require more than just the signatures of the continent’s 55 political leaders to operate. While the operationalization of the AfCFTA was a historical moment for Africa, Dr Kamwanyah said …

Zambian President Edgar Lungu has hit out at ‘mining investors who cry foul’ whenever Zambia sought to increase its share of its natural wealth. He said the country would take a major stake in some mines as he unveiled an economic recovery plan for the debt-burdened country. “We must assume …

First Quantum Minerals has handed over two commercial boreholes worth US$720,000 to Kisasa community, as part of on-going commitment to bring fresh clean water to local communities in Kalumbila District of North-Western Province. The boreholes are 130 meters deep with two 32,000 litre, 15-metre high storage tanks, connected to a …

NDT (Non Destructive Test) works carried out by SKF Zambia on more than 90 mobile mining machines and equipment operating on one of the country’s largest copper mines, delivered massive savings for the customer over a six month period. The mine, which is located in Zambia’s North-Western Province, is a …

The International Monetary Fund (IMF) has indicated willingness to discuss the country’s  broad elements of the Economic Recovery Program, which seeks to restore macroeconomic stability, attain fiscal and debt sustainability, restore growth and safeguard social sector spending. “Given the deep-rooted challenges faced, policies would need to be calibrated to restore …

First Quantum Minerals has said that people and communities neighbouring Sentinel Mine should benefit from equitable distribution of benefits such as employment, business development, education, training and community investment for the long term, First Quantum believes that it makes strategic business sense to involve local communities and other relevant stakeholders …

After incurring project expenditures in excess of $3 million during the initial work phase, Rio will now proceed to the next stage of the Midnight Sun Mining’s Solwezi licenses in Zambia, part of an earn-in and joint venture agreement the companies signed in April 2020. This would allow the company …