Zambia Mining News

Gemfields driving proof of origin and greater transparency for coloured gemstone sector

The coloured gemstone sector has no system, globally at scale, that allows gemstones to be confidently traced from mine to market.

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

First Quantum said that Zambia's tax agency had demanded the taxes, saying they were on import duties, penalties and interest on consumables and spare parts.

Gemfields talks up ‘responsibility’ amid lawsuit over alleged human rights abuses

The UK miner, which is the world's top coloured gems producer, is also adopting a new technology to further drive transparency in the sector.

Barrick Gold cuts 2017 compensation for top two executives

The decision was made to reflect a challenging "shareholder experience" and operations at some mines.

As commodities roar, Africa wants bigger slice of mining pie

A lack of returns to governments is drawing a backlash from Mali in the Sahara to Tanzania on the Indian Ocean.

Barrick Gold yet to feel the heat in Zambian tax crackdown

The Toronto-based company, which operates the Lumwana mine, hasn’t received any notifications from the tax authority.

First Quantum dodges catastrophe as CEO moves to dispute tax bill

Zambia Revenue Authority claims the company owes $2.1 billion in penalties and $5.7 billion in interest.

First Quantum confirms $7.9bn Zambian tax assessment

Shares of First Quantum fell as much as 13 percent in Toronto and were down 12 percent when the stock was halted ahead of the statement.

Zambia to conduct tax audit of mining companies for past 6 years

The Zambia Revenue Authority may extend the period of the audit should it find a pattern of “consistent, systematic, premeditated” tax evasion.

Zambia targets one million tonnes copper output this year

Rising copper prices were also expected to boost revenue collection in Africa's No.2 producer of the metal.

Zambia to start forcing miners to move 30% of minerals by rail

Country's Chamber of Mines says rail system is not ready to handle that amount of cargo, adding that the potential impact on the mining industry has not been properly considered.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Gemfields reveals and denies fresh human rights abuse claims in Mozambique

As part of Gemfields' philosophy of “total transparency”, the company revealed is facing claims of human rights abuses in Mozambique, where it mines rubies.

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

ZCCM-IH launched action in Oct 2016 to sue First Quantum over claims that the company borrowed $2.3bn from copper mining subsidiary without informing them.

Zambia says miners must move 30 percent cargo by railway

Transport Minister Brian Mushimba said there was evidence of huge imbalance between use of road and rail sector leading to the underperformance of railways.

Tanzania-Zambia railway halts copper transportation after strike

The line is an important route for copper exports from Zambia and the Democratic Republic of Congo, Africa’s top copper producer.

Zambian villagers can sue Vedanta in the UK-London's Court of Appeal

London's Court of Appeal opened the way for nearly 2,000 Zambian villagers can pursue a claim for damages.

Zambia sees copper output easing slightly this year

Mainly due to lower output from Konkola Copper Mines, a subsidiary of London-listed Vedanta Resource

Glencore's Zambian unit says investments at risk due to power issues

Power has been restricted due to a dispute over new, higher tariffs.

Glencore's Zambian unit may shed 4,700 workers on power shortages

Mopani Copper Mines, Glencore's Zambian unit, said on Tuesday it may lay off nearly 5,000 workers due to a dispute with its electricity supplier over prices that has led to reduced power supply to its […]

Zambia restores full power supply to First Quantum mines

Zambia's state power company reduced electricity supply to two First Quantum copper mines because the mining firm had failed to pay the new flat electricity tariff.

First Quantum mines in Zambia also affected by power supply cuts

Zambia's state power company made the decision amid an ongoing dispute over the implementation of new electricity tariffs in the country.

Zambia's copper mine suspends operations after restricted power supply

Glencore's Zambian Mopani Copper Mines unit suspended operations in certain areas on Saturday after the Copperbelt Energy Corporation (CEC) restricted power supply to its sites in both the Kitwe and Mufulira regions.

Zambia's Konkola mine halts operations at Nchanga mine after cable theft

Zambia's Konkola Copper Mines (KCM) said on Tuesday it was halting operations indefinitely at its Nchanga underground mine (NUG) in Chingola state due to theft of high voltage cables.

Gemfields shares collapse on imminent delisting

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