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Zambia's finance minister says new mining taxes will not hit operations

By: Reuters     18th October 2018 Mining companies operating in Zambia will still meet their operational costs even after the government imposes higher taxes in Africa's No.2 copper producer, its finance minister said on Wednesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase... 

Zambian mining group says tax changes will hit mineral exploration

By: Reuters     16th October 2018 Zambia's proposed mining tax increases will hit mineral exploration and production in Africa's second biggest copper producer, companies involved in exploration said on Tuesday. Zambia plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help... 

Mining firms say Zambia's tax hike plan would ruin economy

By: Reuters     4th October 2018 Zambia's proposed mining tax increases would hobble Africa's second biggest copper industry, companies said on Thursday, a further warning to investors already concerned about the country's mounting debt. Several mines would become unprofitable if the tax plans were implemented with overall... 

Zambia mines to pay mineral royalties in dollars to stabilize kwacha

By: Reuters     3rd October 2018 Zambia has asked mining companies to pay mineral royalties directly to the central bank in dollars as one of the measures to help stabilise its kwacha currency , its finance minister said on Tuesday. The kwacha gained more than 5% to close at 11.9500 per dollar on Tuesday after hitting 12.6750 on... 

Zambia hikes mining taxes in 2019 budget to rein in debt

By: Reuters     28th September 2018 Zambia will introduce new mining duties and increase royalties to help bring down mounting debt and narrow its fiscal deficit, Finance Minister Margaret Mwanakatwe said on Friday. Presenting a 86.8-billion kwacha ($7.10-billion) budget, Mwanakatwe said Zambia planned to trim its fiscal deficit to... 

Zambia's SMEs urged to raise packaging standards to improve global competitiveness

By: African News Agency      10th September 2018 The International Trade Centre (ITC) on Monday urged Zambia's small and medium enterprises to improve packaging standards to make their products more competitive on international markets and also called for more investment into local packaging centres for agri-food processors. Speaking at the... 

Hotel group Hilton opens $100m Society Business Park in Zambian capital

By: African News Agency      4th September 2018 Luxury hotel group Hilton has opened the refurbished 20-floor mixed-use development Society Business Park which houses Hilton Garden Inn in the Zambian capital Lusaka. In 2011, Zambia National Building Society (ZNBS) and the National Pension Scheme Authority (NAPSA) entered into a 20-year... 

Zambia copper output up 10.6% in first half of 2018 – central bank

By: Reuters     22nd August 2018 Zambian copper output rose 10.6% to 402 222 t in the first half of the year, the central bank governor Denny Kalyalya said on Wednesday. Zambian copper mining industry has been increasing production of the metal thanks to stable power supply and relatively higher metal prices in recent months. 

Dachser South Africa driving excellence in road freight services

17th August 2018 According to logistics company Dachser South Africa road freight in Africa can be a challenging undertaking. Therefore, transporting goods and services throughout the continent requires a network of support partners, a team that has up-to-date information on multi-country customs and border... 

Budget airline continues to refine its service and aircraft mix

By: Rebecca Campbell     17th August 2018 Pan-African low cost carrier Fastjet (which operates under the brand fastjet) is continuing its programme of optimising its services, routes, and fleet, to restore its financial health, ensure it becomes a sustainable going concern, and thereafter achieve consistent profitability. “As a... 

Vedanta's suspends operations at Zambian unit after worker killed in accident

By: Reuters     9th August 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine was stopped after one miner was killed in an underground accident to allow for investigations into the incident, the company said. In July production was halted at the same shaft, shaft 4, after a miner died in an... 

Gemfields sells 90% of emeralds on offer at latest auction

By: Anine Kilian     3rd August 2018 Gemfields’ latest auction, comprising predominantly commercial quality rough emeralds, generated revenues of $10.89-million, with an overall average value of $4.21/ct achieved. The auction was held in Lusaka, Zambia, from July 30 to August 2. 

Vedanta Africa base metals halts work at Zambia mine after miner killed

By: Reuters     26th July 2018 Vedanta Resources' Zambian unit said on Thursday work at its Konkola Copper Mine underground copper shaft 4 was halted after one miner was killed in an accident to allow for investigations into the incident, the company said. The firm said in June that it plans to double finished copper... 

China overloading poor nations with debt, top US official says

By: Reuters     17th July 2018 China is saddling poor nations with unsustainable debt through large-scale infrastructure projects that are not economically viable, the head of the US Overseas Private Investment Corporation (OPIC) said on Monday. The criticism of Beijing - targeted by President Donald Trump in a trade war that... 

First Quantum given time to solve $7.9bn Zambian tax row

By: Bloomberg     5th July 2018 Zambia agreed to give First Quantum Minerals more time to complete its analysis of what the company might owe the southern African nation after it was slapped with a $7.9-billion tax bill, according to the Finance Minister. The Vancouver-based company is challenging the assessment from Zambia’s... 

When the going gets tough, the tough get railing

By: Creamer Media Reporter      3rd July 2018 Earlier this year, it was widely reported that Zambia had passed a statutory ruling which instructed firms (affecting mostly Mining), to transport at least 30% of their heavy and bulk freight volumes by rail. To place this into perspective, it is estimated that only 5% of the total freight moved... 

Skyriders scales new heights with hotel waterproofing project in Zambia

28th June 2018 Skyriders Access Specialists (Pty) Ltd. showcased the flexibility of its rope-access solutions at a recent waterproofing contract on a 19-storey hotel building, in Lusaka, Zambia for a major hotel group. The initial scope of work was to assist the primary contractor with waterproofing on one or... 

Zambian Parliament recommends private investment in State firms

By: Reuters     27th June 2018 Zambia must consider seeking equity partners to recapitalise its State-owned firms, a Parliamentary committee recommended on Tuesday. Zambia transferred the shares of 29 of its 33 State-owned companies in 2015 from the ministry of finance to the government's investment arm, the Industrial... 

First Quantum says competitiveness key to Zambia copper production

By: African News Agency      22nd June 2018 Global metals and mining company First Quantum has urged Zambia to ensure competitiveness and stability in the sector in order to attract foreign direct investment and regain its slot as Africa's largest copper producer. Essential to this is a competitive electricity tariff structure that... 

Zambia urges South African firms to invest in public projects

By: Reuters     21st June 2018 Zambia's finance minister urged South African firms to invest in roads and power plants in Africa's No.2 copper producer after it suspended borrowing indefinitely, slowing down the accumulation of new debt amid worries about the risk of distress. The International Monetary Fund rejected Zambia's... 

Pallinghurst sells 56% of carats on offer at Zambia auction

By: Simone Liedtke     21st May 2018 JSE-listed Pallinghurst Resources, which owns 100% of Gemfields, has sold 56% of the carats on offer at an auction of higher-quality rough emeralds held in Lusaka, Zambia. The auction, which took place earlier this month, saw 31 companies placing bids and generated revenue of $10.3-million, with... 

Rosatom, Zambia to build nuclear science centre

By: Anine Kilian     16th May 2018 Russia’s Rosatom and Zambia have signed an agreement for the construction of the Centre for Nuclear Science and Technology (CNST) in the Southern African country. Construction of the centre will be the first joint project between Russia and Zambia in the field of nuclear technologies.  

Galileo hits 15.4% zinc mineralisation at Zambia project

By: Marleny Arnoldi     14th May 2018 Aim-listed Galileo Resources on Monday announced drilling results for its final eight drill holes – as part of a 26-hole diamond drilling programme – at the Star Zinc project, in Zambia, in which the company has an 85% interest.  

Vedanta's KCM disputes $18m Zambia tax bill – industry source

By: Reuters     9th May 2018 Vedanta Resources' Zambia unit, Konkola Copper Mines (KCM), is disputing a bill of almost $18-million slapped on it by tax authorities after an audit, an industry source familiar with the matter, told Reuters on Wednesday. Zambia's revenue authority concluded audits of mining companies that... 

Zambia to complete 50 MW World Bank solar project in September

By: Reuters     8th May 2018 Zambia will complete its first large-scale 50 MW solar power generation plant in September this year as the nation battles a power deficit which threatens industrial output, a state-owned agency said on Tuesday. The electricity shortfall has forced Africa's second-largest copper producer to... 

Zambia concludes mine tax audits after slapping huge bill on First Quantum

By: Reuters     8th May 2018 Zambia concluded audits of mining companies that prompted the nation to slap Canadian miner First Quantum Minerals with a tax bill of over 76.5-billion Zambian kwacha ($8-billion), its revenue authority said on Monday. First Quantum, which owns two copper mines in Zambia, said in March that... 

Agarwal offers Anglo help in tapping India's 1.3bn people

By: Bloomberg     12th April 2018 Anglo American’s biggest shareholder, billionaire Anil Agarwal, has offered to help the mining giant expand into India. “That’s a big market for them,” Agarwal said in an interview in Lusaka. “I am going to help them if they need to open up that market for them to work there.” 

Zambia targets 1Mt of copper output this year

By: Reuters     20th March 2018 Zambia expects to produce more than one-million tonnes of copper this year after revising its 2017 copper production upwards on the back of stable power supply, a senior ministry of mines official said on Tuesday. Rising copper prices were also expected to boost revenue collection in Africa's... 

Zambia's President Lungu appoints new finance, mining ministers

By: Reuters     15th February 2018 Zambian President Edgar Lungu appointed new finance and mining ministers in a reshuffle on Wednesday that included changes in numerous other departments as well. Margaret Mwanakatwe was appointed finance minister while Richard Musukwa was named minister of mining, the government said in a... 

EMR Capital plans to double output at Zambia's Lubambe copper mine

By: Reuters     14th February 2018 Australian company EMR Capital plans to double production at Zambia's Lubambe copper mine, a company official said on Wednesday after completion of EMR's acquisition of a majority stake for $100-million. "Our first task is to lift copper production to above 40 000 t and we want to do that in the... 

Zambia's chamber of mines says rail transport law 'inappropriate and unworkable' 

By: Reuters     31st January 2018 A new Zambian law compelling mining companies and other bulk cargo firms to transport at least 30% of their freight by rail is "economically inappropriate and unworkable" and should be reviewed, the Chamber of Mines said on Wednesday. Transport Minister Brian Mushimba said on Friday the law was... 

Zambia court dismisses First Quantum bid to stop $1.4bn lawsuit

By: Reuters     26th January 2018 A $1.4-billion lawsuit against Canada's First Quantum Minerals in Zambia will go ahead, a Zambian court ruled after dismissing the company's bid to stop the case. State-owned ZCCM-IH launched action in October 2016 to sue First Quantum for $1.4-billion over claims that the Canadian company... 

Zambia says miners must move 30% cargo by railway 

By: Reuters     26th January 2018 Mining firms and other bulk cargo firms in Zambia must transport at least 30% of their freight by railway, the government said on Friday, imposing a law to revive the sector. Transport Minister Brian Mushimba told reporters there was evidence of a huge imbalance between use of the road and rail... 

Zambia sees mining revenue rising on higher copper price

By: Reuters     11th January 2018 Zambia expects to collect more revenue from mining companies this year compared to 2017 after copper prices rose above $7 000/t, the revenue authority (ZRA) said on Wednesday. ZRA Commissioner-General Kingsley Chanda said at a media briefing the authority was targeting a revenue-to-GDP ratio of... 

SAA, TAAG sign code-share agreement

By: Schalk Burger     10th January 2018 State-owned airline South African Airways (SAA) and Angola State-owned airline TAAG Angola Airlines on Wednesday announced a code-share agreement for flights between Luanda and Cape Town or Johannesburg. “SAA will code-share with TAAG on direct services between Johannesburg and Luanda and between... 

Zambia sees 2017 copper output rising up to 850 000 t

By: Reuters     14th December 2017 Zambia's 2017 copper output is expected to increase to between 800 000 t and 850 000 t from 774 290 t in last year, Mines Minister Christopher Yaluma on Thursday. Zambia's copper production is next year likely to increase further to reach 1-million tonnes, Yaluma said, citing improved power... 

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Tanzania-Zambia railway halts copper transportation after strike

By: Reuters     6th December 2017 The Tanzania-Zambia Railway Authority (TAZARA) has suspended all train services, including the transportation of copper following a strike by workers in Africa's second-largest producer of the metal, the company said on Wednesday. The line is an important route for copper exports from Zambia and... 

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