The World Bank has initiated a $700 million program in March 2024 to bolster Zambia’s electricity sector. This initiative, named the National Energy Advancement and Transformation Program, seeks to enhance energy infrastructure in alignment with the government’s goal of achieving 10% GDP growth by 2030 and expanding job opportunities. ToContinue Reading
Xtract Resources has announced a joint venture (JV) agreement with Oval Mining, which is in collaboration with Cooperlemon Consultancy, to potentially acquire up to a 70% stake in Zambia’s Silverking copper mine and its accompanying exploration licence. The initial option period spans 18 months, during which Xtract must invest $500,000Continue Reading
The Lobito Corridor, spanning from Zambia and the Democratic Republic of the Congo to the Angolese port of Lobito, represents a massive initiative aimed at countering China’s influence in the region. This ambitious project involves constructing approximately 800 kilometers of new railway tracks across Africa. Initial funding of $1.6 billionContinue Reading
Copper surged to a 14-month peak, buoyed by investors gravitating towards this key industrial metal amidst escalating supply concerns and optimism over a worldwide demand resurgence. The metal’s prices soared by as much as 1.5% on Thursday, fueled further by Federal Reserve Chair Jerome Powell’s dovish remarks. This momentum buildsContinue Reading
Xtract Resources PLC announced on Wednesday its partnership with Oval Mining Ltd, in collaboration with mining consultant Cooperlemon Consultancy Ltd, to form a joint venture. The venture is set on the Australian and Zambian-based mining company securing a 70% stake in the Silverking copper mine, along with its license, locatedContinue Reading
The government has encouraged Zambian citizens to actively participate in the ongoing reforms within the mining sector. Edward Shabani, Senior Planner for Mines and Minerals Development, stated that the government aims to implement several policy reforms in mining to boost copper production and ensure local benefits through increased local content.Continue Reading
The state miner of the Democratic Republic of Congo (DRC) is intensifying efforts to maximize returns from its copper and cobalt ventures. It aims to negotiate for increased ownership stakes across various ventures to enhance its influence over the management of major mines. Additionally, Gecamines plans to utilize its existingContinue Reading
Buenassa, a company operating in the metal processing and trading sector, has announced the reception of a subsidy totaling US$3.5 million from the Democratic Republic of the Congo (DRC) Government through the Fonds de Promotion de l’Industrie (FPI). This grant serves as the initial installment for the funding of itsContinue Reading
In the heart of the Democratic Republic of Congo (DRC), Adore Ngaka faces a daily reminder of his losses as he gazes down the road from his home at the looming oil drills. The expansion of oil extraction near his village in western Congo has left a trail of devastation:Continue Reading
Paul Kabuswe, the Zambian Minister of Mines and Minerals, highlighted the challenges faced by Zambia despite its efforts to reform economic policies and attract investment in its mining sector. Speaking at the Investing in African Mining Indaba in Cape Town, he emphasized the significant gaps in geological surveys and otherContinue Reading
