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KAGEM Mining Limited says the company is now profitable after paying dividends to its shareholders for a third successive year, the latest being US$14 million in 2015. Kagem chief executive officer Ian Harebottle stated the dividends paid demonstrated what could be done when national resources and world-class private sector expertise …
Read More »Denison has commenced exploration in Siavonga
A CANADIAN firm, Denison Energy Corporation, has started pursuing uranium exploration at the Muntanga Mine in Siavonga District. The company is a result of a merger between Fission Uranium and Denison Mines in July this year to create a US$900 million exploration and development company which would combine top uranium …
Read More »Kagem emerald mine still strong for next 25years
The world’s single largest producing emerald mine – Kagem in Lufwanyama District – looks set to continue benefitting Zambia for the next 25 years, according to an in-depth technical study of its prospects by independent experts. The estimated reserves at the mine reinforce the company’s potential long-term commitment to Zambia …
Read More »Copper at $5,000 per tonne not a disaster, says Kaberuka
DR Donald Kaberuka says Zambia and other African governments must fix economic policies that are leading to massive job losses in the mines. And Dr Kaberuka, the immediate past president of the African Development Bank, says copper prices at $5,000 per tonne is not a disaster that can lead to …
Read More »Gemfileds delivers maiden mineral resource, ore reserves for Kagem
Coloured gemstones miner Gemfields has produced the first measured mineral resource and proven ore reserve statement for its 75%-owned Kagem emerald mine, in Zambia. The company on Wednesday said a Competent Persons Report (CPR), produced by consulting firm SRK Consulting, had shown a Joint Ore Reserves Committee-compliant measured, indicated and …
Read More »African Potash secure a $500/t price for fertiliser in Zambia
Aim-listed exploration company African Potash has reached an agreement to establish a sale price of $500/t for 50 000 t of fertiliser product. African Potash executive chairperson Chris Cleverly said the deal would see NPK and urea fertilisers delivered in Zambia at a price that “supported the growth and development …
Read More »African Copper V Conference
Africa’s copper potential continues to hold the interest of the global mining community. Zambia and DRC are striving to meet higher production targets and supply is growing in countries such as Botswana and Namibia. Progress is being made to overcome the logistical, infrastructure, political and social hurdles, and – despite …
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 to end power tariff subsidies for big firms
Zambia’s government will stop supplying cheap electricity to large industries as Africa’s second largest copper producer battles a costly power shortages. The move away from subsidised electricity tariffs for large consumers will happen immediately, while state utility Zesco will source energy from private producers to plug the deficit, government spokesperson …
Read More »Gemfields lifts FY output
Aim-listed Gemfields’ 75%-owned Kagem emerald mine, in Zambia, delivered 8.1-million carats of emerald and beryl in the quarter ended June 30, lifting output for the full 2015 financial year to 30.1-million carats of emerald and beryl. This was comparable with the 6.2-million carats of emeral and beryl produced in the fourth …
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