Zambia has signed a cooperation agreement with the Arab Bank for Economic Development in Africa (BADEA), securing a $50 million investment for the construction of the Kalabo-Sikongo-Angola Border Road in Western Province. The agreement was formalized in Riyadh, Saudi Arabia, by Zambia’s Minister of Finance and National Planning, Dr. SitumbekoContinue Reading
Kansanshi Mining, a subsidiary of First Quantum Minerals (FQM), reported impressive financial results for the first half of 2024, buoyed by higher copper prices and improved ore grades, despite ongoing electricity challenges in Zambia. The company achieved a net profit of $117 million, marking a significant recovery from a netContinue Reading
ZESCO has announced plans to deliver a more reliable and consistent energy supply during the scheduled load shedding hours starting Wednesday, following the full resumption of operations at Maamba Energy on Tuesday evening. During a media briefing in Lusaka, Transmission Operations and Trade Director Justin Loongo stated that ZESCO hasContinue Reading
Metso has secured a major contract from Barrick Gold to supply critical process equipment for the Lumwana copper project in Zambia. Valued at around €70 million ($78.12 million), this order will be included in the minerals segment’s third-quarter 2024 intake. As part of the agreement, Metso will deliver a completeContinue Reading
n October 3, 2024, Zambian President Hakainde Hichilema, accompanied by his cabinet members, officially launched the development of a Super Pit at Barrick’s Lumwana copper mine. The feasibility study for this expansion is anticipated to be completed by the end of the year, setting the stage for construction to commenceContinue Reading
KoBold Metals, the Bill Gates-backed mining exploration company, is considering an investment of $2.3 billion to develop a significant new copper mine in Zambia, according to President Hakainde Hichilema, who referenced company estimates. The company aims to produce over 300,000 metric tons of copper annually at the Mingomba site, potentiallyContinue Reading
Liebherr Zambia has celebrated its 10th anniversary, with employees travelling to the Kitwe branch to begin the proceedings with a tour of Kitwe’s office, warehouse and remanufacturing facilities before attending a company-wide address from Liebherr Zambia’s managing directors. Henri Wassink, Managing Director of Administration, Liebherr Zambia, said: “We appreciate everyoneContinue Reading
The Zambian Cabinet has approved the creation of a special purpose vehicle (SPV) to boost the country’s revenue from its mineral resources, according to a Reuters report. The Cabinet announced that this new entity will facilitate a shift from the current dividend payment model for mineral resources to a production-basedContinue Reading
Prospect Resources (ASX:PSC) has acquired an 85% stake in the Mumbezhi copper-cobalt project in Zambia for US$6.5 million, paid in cash and shares, in late May. Situated within the renowned Zambian Copper Belt, one of the world’s most prolific copper mining regions, the Mumbezhi project spans 356 km². The landContinue Reading
KoBold Metals, the Bill Gates-backed mining exploration company, could spend US$2.3 billion to build a major new copper mine in Zambia, President Hakainde Hichilema said, citing figures from the company. The firm aims to produce more than 300,000 metric tons per year at Mingomba – making it the country’s biggestContinue Reading
