Recent News

The Copperbelt Energy Corporation PLC (CEC) has put out a notice announcing plans to lease out its fully-fledged Tank Farm based in Luano Area, 18km from Chingola. The facility has three x 1,800,000 litres capacity fuel tanks and auxiliary equipment accessible by both road and rail network. CEC’s decision to …

Government has announced intentions flush out foreigners employed in the mining sector to create jobs for qualified Zambians. Kampamba Mulenga, Chief Government Spokesperson says concerns from the labour movement motivated the decision. She said Zambia has well trained mining experts hence the need for mining houses to employ competent and …

Stanbic Bank has projected a stronger and more stable economy at the backdrop of the central bank has putting in place various monetary measures to prop up the economy. Victor Chileshe Stanbic Bank’s Head of Global Markets says the current economic trajectory shows that the country is effectively dealing with …

Investors in the mineral exploration sector want exemption from property tax. The Association of Zambian Mineral Exploration Companies (AZMEC) says paying property transfer tax levied at 10 percent from exploration stage of mining dents profit. Geoffrey Mulenga AZMEC President speaking during the 10th AZMEC Explorers Forum  held under the banner: ‘Exploration …

The rising commodities prices are to spur the country’s copper production, government officials have said. Paul Chanda, Mines permanent secretary said the prospects for 2017 are largely positive. Government projects copper production to exceed 850,000 tonnes on account of recovering prices nearing US$6,000 per tonne. “The commodity prices have shown …

Copperbelt Energy Corporation (CEC) Plc has mooted plans to delink its pan-African power assets developer CEC Africa from the CEC group. Julia Chaila, company secretary said the decision yet to get approval from shareholders is expected to improve CEC Plc financial performance. CEC Africa is currently reeling from operation challenges …

Alecto Minerals on Thursday said it was now targeting the commissioning of its Matala gold project, in Zambia, in 2017 as it was awaiting the completion of the last leg of the financing plan for the project. To complete the financing, the company needed to reach an agreement with local …

Global copper markets will be oversupplied for at least two years, executives at some of the world’s major producers of the metal and traders said recently, casting doubt on the chances of a prolonged rally in prices. That tempered assessment of the market at an industry conference in Shanghai came …

ZCCM Investments Holdings, the state-controlled Zambian company that holds minority stakes in most of the country’s copper mines, plans to claim as much $1.4 billion from First Quantum Minerals Ltd. after accusing the Vancouver-based company of fraud. The Canadian company’s stock fell. The claim includes $228 million in interest on …

Western Power Company Limited has called on pension funds and other local firms to consider coming on board in the establishment of the 45 megawatts hydro power station to be developed by the company in Sioma. Company director Sipho Phiri said the US$200 million project to be established on Ngonye …