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Largest Zambian copper producer yet to confirm adherence to Bank of Zambia directive First Quantum Minerals (FQM), Zambia’s leading copper producer, has remained tight-lipped on whether it adheres to the Bank of Zambia’s (BOZ) export proceeds tracking framework directive. Responding to a media inquiry, FQM’s Public Relations Manager, Mirriam Hammond, …

Zambia, a nation synonymous with copper, shimmers with the promise of vast mineral wealth. However, despite boasting Africa’s second-largest copper reserves, the country grapples with the paradox of the “value chain curse.” This phenomenon, plaguing resource-rich nations, sees them trapped in a cycle of exporting raw materials while failing to …

Africa’s long-held dream of hosting its first cobalt refinery appears within reach, as the Nigeria-based Africa Finance Corporation (AFC) signed a memorandum of understanding (MoU) with Kobaloni Energy last week. This agreement provides a potential $100 million lifeline for the construction of a cobalt sulphate refinery in Zambia, potentially revolutionizing …

Vedanta Resources has commenced funding to Konkola Copper Mines (KCM) and has disbursed its first $25 million for employee salaries, contract labour as well as for other critical services needed to maintain the integrity of the asset. The company has deployed a technical team at KCM to work together with …

Securing a stable and efficient national power grid is paramount to achieving Zambia’s ambitious target of 3 million tonnes annual copper production, according to First Quantum Minerals (FQM), the country’s largest copper producer. “Ahead of new mine production, ensuring sufficient and reliable power, efficiently transmitted through the national grid, cannot …