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Gemfields has revealed its cash and cash equivalents by year-end which is  $97.7-million, with $34.7-million of outstanding debt with the Absa Group, resulting in a net cash position of $63-million. The net cash position excludes the outstanding balance of auction receivables of $54.5-million at December 31, 2021. Gemstone miner Gemfields …

BHP has reported lower volumes at Olympic Dam due to a planned smelter maintenance campaign, completed in January 2022. This was partially offset by higher volumes at Antamina. Escondida copper production decreased by 15% to 488 000 t due to concentrator feed grade decline, despite a record performance for material …

The United States government, through the United States Agency for International Development (USAID), has signed an agreement with National Rural Electric Cooperative Association (NRECA) International to support widespread electrification and economic development in rural communities in Zambia. The parties signed a five-year cooperative agreement expected to spur economic development in …

“The continent, including Zambians, haven’t understood that there have been a lot of changes in the IMF,” said Zambian President Hakainde Hichilema, who won the presidency in August 2021. “The IMF of today understands the need for growth and opportunities in our countries.” Hichilema, who is seeking to ratify a …

Government has issued a new Statutory Instrument No. 94 of 2021 (SI No. 94 of 2021) to revoke Statutory Instrument No. 24 of 2021 (SI No. 24 of 2021), which declared CEC’s transmission and distribution lines as Common Carrier. SI No. 94 of 2021 revokes Statutory Instrument No. 24 of …