Zambia Mining News

Vedanta, KCM seek urgent Zambia talks, court appoints liquidator

The news has rattled foreign investors already nervous governments in central African countries are seeking a much bigger share of resource revenues.

Zambia's plan to seize copper mines stuns investors

Zambia’s Eurobond yields rose to record highs after the government of the cash-strapped copper producer said it’s planning to seize Vedanta’s mining assets.

Zambia's Lungu seeks new investor in Vedanta-controlled copper miner

London-listed Vedanta said in a statement that it was seeking an urgent meeting with Lungu over the future of KCM.

Nothing seems to matter in copper markets, except the trade war

Copper is slumping toward a three-month low even after Zambia moved closer to nationalizing some of its mines.

Zambian president threatens Glencore, Vedanta with 'divorce'

The threat marks an escalation in tensions between the mining industry in Africa’s second-biggest copper producer and the state, after an increase in royalties and plans to introduce new taxes.

Barrick Gold prepping sale of Zambian copper mine in H2

The world's second largest bullion miner is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers.

Glencore's Zambian unit to close two shafts

Zambia's Mopani Copper Mines Plc plans to close two shafts and focus on essential capital projects, the Glencore-owned company said on Friday.

Zambia's finance minister says tax reforms needed to cut debt

The proposed tax change in Africa's second biggest copper producing nation has upset the mining community.

Operations resumed at Zambia's Munali nickel mine

The restart of operations follows a refurbishing process designed by new operator CNM back in 2014.

Nearly 2,000 Zambian villagers can sue Vedanta in England – Supreme Court

The latest ruling raises the prospect that other companies could face legal action in England related to their activities abroad.

How countries are getting tougher with mining companies

A mix of political populism, higher commodity prices and the expectation electrification will spur demand for raw materials has led governments to change the rules for miners operating in their countries.

Vedanta Resources appoints new CEO for Zambian unit KCM

Vedanta has appointed Christopher Sheppard as the new chief executive officer for its Zambian unit Konkola Copper Mines.

Two killed in accident at Glencore's Zambian mine

The company has suspended production pending investigations.

Congo and Zambia win fight with copper miners — but at a cost

The current supply turbulence, however, promises more volatility ahead for cobalt as well as copper.

Miners vs African governments: The fight's just getting started

Ghanaian President Nana Akufo-Addo issued a firm warning: stop expecting supercharged profits from Africa’s mineral riches.

Glencore's Zambian unit suspends operations after three workers die in fire

Mopani is one the biggest mining companies in Zambia -- Africa's No. 2 copper producer.

First Quantum inks $2.7B refinancing deal

Company has signed a new $2.7-billion term loan and revolving credit facility, replacing the existing $1.5 billion one.

Zambian finance chief holds firm on higher mining royalties

“There is no renegotiation taking place because a law has been passed in parliament to change the tax regime."

Zambia receives bids for stake in state mining investment arm

The offers relate to the ministry's 17% holding in ZCCM-IH and a sale would be subject to cabinet approval.

First Quantum is said to offer $700m for Zambia mine

The deal would also include ZCCM-IH dropping a $1.4 billion legal claim against First Quantum over a loan the company received from Kansanshi.

Africa Mining Indaba: Dam safety, Zambia taxes, Ford on cobalt

Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.

Zambia fires CEO of state mining investment arm ZCCM-IH

Zambia, Africa's No.2 copper producer, introduced a new 10 percent tax when the price of copper exceeds $7,500 per tonne.

Vedanta’s Zambia unit says new tax regime won't affect jobs

“Our actions are designed to sustain and create jobs, grow the economy, and contribute more to the treasury.”

Gemfields to pay $7.8m to settle human rights abuses claims in Mozambique

The precious gemstones miner has agreed, on a no-admission-of-liability basis, to settle claims brought against it by a group of 273 Mozambicans related to its ruby mine in northern Mozambique.

Barrick CEO on Zambia tax dispute: Threats don't solve problems

“We don’t believe that threatening one’s partner is a constructive way to go about solving problems.”