Recent News

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 …

First Quantum Minerals (FQM) has spent over US$7 billion on local procurement and provided opportunities for growth of Zambian businesses. “Kansanshi Mining Plc spent US$7.8 billion on procurement within Zambia from 2010 to 2015, which translates into 88 percent of the company’s total operational expenditure,” Trident Foundation manager Garth Lappeman …

Konkola Copper Mines (KCM) is planning to shed off more workers despite having laid off hundreds last year, the Mine Union of Zambia (MUZ) has revealed. But Mines Minister Christopher Yaluma has said Government would not allow KCM or any other mining company to lay off workers without giving proper …

Chambishi Copper Smelter has shut down its Anode and Reduction furnaces due to electricity shortages. In an interview after mines minister Christopher Yaluma toured the plant, CCS deputy manager in charge of Safety Health and Environment Robinson Mubita said the power the processing plant was receiving was not sufficient and …