zambia – Page 8

Africa Mining: Zambia copper output up 2.1%

Posted on July 31, 2015July 31, 2015 by Mozambique Resources Post

Zambia’s copper production increased by 2.1% in the first half of 2015 versus the same period last year as mining companies in Africa’s No.2 producer of the metal ramped up output in May and June, the statistics office said on Thursday.

Africa Mining: First Quantum, Barrick hit by power cuts in Zambia

Posted on July 29, 2015 by Mozambique Resources Post

Power cuts in north-western Zambia, Africa’s second-biggest copper producer, have affected production at mines run by Canada’s First Quantum Minerals and Barrick Gold, an industry body said on Tuesday. Zambian power utility Zesco Ltd is limiting power it supplies to customers, including mining companies, after water levels at its hydro-electric plants dropped due to drought.

Environment & Legislation: Zambia Cabinet approves changes to controversial mining royalties

Posted on April 14, 2015April 14, 2015 by Mozambique Resources Post

The Cabinet of Zambia approved changes to controversial mining royalties on Monday after the finance and mines ministers proposed amendments, the president’s spokesperson said. “This follows extensive consultations with the mining industry in the light of significant changes in the fundamental assumptions upon which the law was based and the sudden fall in the price of copper,” the presidency said in a statement.

Africa Mining Industry: Zambia mining tax changes with FMI support

Posted on April 1, 2015April 1, 2015 by Mozambique Resources Post

The International Monetary Fund (IMF) backed Tuesday plans by Zambia to change it mining tax system, but warned that only further tightening of fiscal and monetary polices would contain the country’s large deficits. The Southern African nation increased underground mining royalties to 8% from 6%, and open pit taxes to 20% from 8%, as part of major overhaul to the industry’s tax system announced last year, which triggered closures threats and temporary suspension of operations.

Africa Mining Industry: Zambian ex-mines minister found guilty of corruption

Posted on February 27, 2015 by Mozambique Resources Post

Former Zambia Minister of Mines and Minerals Development Maxwell Mwale has been convicted by the Lusaka Magistrate’s Court for abuse of authority of office by facilitating the issuance of mining licences to a Chinese firm. Magistrate Lameck Mwale, who has deferred sentencing to tomorrow, has, however, acquitted Mwale of the second account of being in possession of 5,000 bicycles worth over K1.5 million suspected to be proceeds of crime.

Zambia Mining Industry: Mines Minister reappointed to end tax row

Posted on February 16, 2015February 16, 2015 by Mozambique Resources Post

Zambia’s new President Edgar Lungu on Thursday reappointed Christopher Yaluma as mines minister in Africa’s second-largest copper producer, to help end a row with mining companies over new royalties and tax refunds. The simmering disputes, coming at a time when copper is near 5-1/2 year lows and economic growth in the southern African nation is faltering, have threatened investment and could result in shaft closures and jobs losses.

Africa Mining Industry: Zambia is negotiating royalties increase with mining COs

Posted on February 6, 2015 by Mozambique Resources Post

Zambia President Edgar Lungu began negotiations with mining companies in the country to address concerns about the increase in royalties. The rate for open pit mines rose from 6% to 20% and in underground mines increased from 6% to 8%, from the 1st of January. Vale, which explores coal in Mozambique Moatize operations, produces copper in the country in Lubambe mine, through a joint venture with African Rainbow Minerals.

Africa Logistics: Workers strike ends, allowing Zambia–Tanzania railway line to reopen

Posted on January 20, 2015 by Mozambique Resources Post

The railway between Zambia and Tanzania used to export copper from Africa’s two biggest producers reopened on Friday after workers on both sides of the border ended a strike, a company spokesman said. “The suspension of operations has now been lifted and all train operations have resumed with immediate effect,” company spokesperson Conrad Simuchile said in a statement.

Zambia Mining: First Quantum starts up copper mine

Posted on January 2, 2015January 2, 2015 by Mozambique Resources Post

Despite concerns over a mining royalty hike in Zambia that led Barrick Gold (TSX:ABX) to halt operations in the country, Bloomberg reports that First Quantum Minerals (TSX:FM) is starting up a Zambian copper mine. Royalties have recently increased from 6 percent to 20 percent for opencast mines in Zambia.

Mining & Taxes: No going back for Zambia royalty hike

Posted on December 31, 2014December 31, 2014 by Mozambique Resources Post

Zambia is pushing ahead with its plans to more than triple royalties on open-pit mines in a move that will leave up to 12,000 jobless and which is likely to sour the already fractious relationship between the government and mining companies. Mines minister Christopher Yaluma said Tuesday it would raise rates from 6% to 20% for open pits and from 6% to 8% for underground operations on Jan.1 as planned, because it was in the best interests…

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