Zambia Mining News

Gemfields shares collapse on imminent delisting

The South African firm has secured control of the gemstones producer and plans to delist it.

Pallinghurst shareholders back acquisition of Gemfields

Gemfields has been at the centre of a bidding war between the South African private equity group and Fosun Gold, a unit of Fosun International.

Gemfields stock hit by Pallinghurst’s move to lower approval threshold for its bid

South Africa-listed Pallinghurst now needs just 60% of Gemfields’ shareholders to back its unsolicited takeover offer.

China's Fosun sweetens offer for Gemfields

The precious stones miner has recommended shareholders to accept offer, despite considering it “unfair.”

Gemfields beats own ruby sales record at Singapore auction

It sold $54.8 million worth of rubies, a record high for any Gemfields auction and a 24% increase in revenue from the previous record.

China's Fosun spices up battle for Gemfields with 10% bid premium

Gemfields, which mines for emeralds and amethysts in Zambia and for rubies in Mozambique, had already received a buyout offer from largest shareholder Pallinghurst Resources.

Zambia copper production to rise 4% to record, lobby group says

Power price resolution could come within ‘weeks’, chamber says

Detention of illegal Chinese miners in Zambia infuriates Beijing

The group of 31 people arrested over the weekend at the copper-mining town of Chingola, includes a pregnant woman and two other people with malaria.

Gemfields steps up fight against takeover by largest investor

Company called Pallinghurst Resources' bid “derisory”, adding it "clearly undervalues" the firm.

Glencore’s profit soars on commodities rebound

A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.

Gemfields postpones emerald auction over India's ‘demonetization’

The auction of emeralds from the miner's Kagem operation in Zambia will now be in February.

Glencore did better as commodity trader than miner in Q3

While output was down for most commodities it mines and sales, it has improved earnings forecast for its trading unit.

ZCCM diversifies its business activities

State-owned copper mining investment holding company wants to branch out into agriculture, energy and manufacturing.

Analysis on copper mining trends in Zambia

Just as government threatened to withdraw the licences of mining firms which refused to pay the increased taxes so did the mining companies threaten to stop their mining activities.

Glencore posts worst half-yearly profit since listing in London

Despite a rebound in commodity prices and successful costs cuts, Glencore remained in the red in the six months to end-June.

Did $78 billion South African gold exports really go missing?

According to a UN report, since 2000 two-thirds of South Africa's gold exports – mostly to India – did not appear on its trade partners' books.

Top 10 copper producing countries

Peru's output surges, North American producers slip down the rankings and Chinese mines shut down.

Big shot in the arm for Zambia

Glencore's $1.1 billion investment in Mopani marks a turnaround for Zambia’s copper sector and will help lift economic growth to 5% by 2018.

Zambian copper mining under threat, stable rules needed

Hit by a slump in copper prices, Zambia should maintain stable mining policies and taxes to avoid losing out to new, lower cost mines elsewhere, said the Chamber of Mines President Nathan Chishimba.

Glencore axes jobs, coal output at Australia’s mine as price collapses

The company will start cutting nearly 80% of its workforce at its Collinsville coal mine in March next year, as it dials back mining at the site.

Follow the yellow brick road: a journey into the world of coloured gemstones

For nearly five centuries gemstones have been synonymous with wealth, power, luxury and royalty.

Gemfields shares soar on ‘knock out’ auction results

The emeralds and rubies miner raised $19.2 million from its recent auction in Jaipur, India.

Glencore shares soar on faster than expected debt reduction

The stock ignored news from Zambia where President Edgar Lungu said he would not allow the firm to lay off workers at its Mopani Copper Mine, as it mothballs it for 18 months.

African Potash signs supply deal with Zambia distributor

The contract will give the company, which wants to become a one-stop shop African fertilizer business, a platform to distribute the product across eastern and southern Africa.

Gemfields mine in Zambia richer than initially thought

According to SRK, the company needs to spend $84 million over the first four years of the project