Zambia Extractive Industries Transparency Initiative - ZEITI Secretariat

22/12/2023

19/12/2023

Transparency International Zambia is working to raise awareness about Free and Prior Informed Consent (FPIC) and Beneficial Ownership (BO) transparency in mining.

18/12/2023

Close to 2,500 workers joined Minera Panamá’s special voluntary retirement scheme following the order received by parent company First Quantum Minerals to end mining operations at the Cobre Panamá copper mine.

07/12/2023

COPPERBELT ENERGY CORPORATION RENEWABLES LIMITED (“CEC RENEWABLES”) REGISTRATION OF DEBT SECURITIES USD 200,000,000 (TWO HUNDRED MILLION UNITED STATES DOLLARS) MEDIUM-TERM NOTE PROGRAMME

The Securities and Exchange Commission applauds CEC Renewables for the successful registration and raising of USD53 million as part of its USD200 million Green Medium Term Note Programme, with the notes set to be listed on the Lusaka Securities Exchange Plc (LuSE).

The announcement of the inaugural Green Bond issuance by year end, at the COP28 sidelines, exemplifies the capital markets development agenda to facilitate the development of innovative products for raising long term funding.

Once again, congratulations to CEC for being the first to issue a Zambian Green Bond! We are delighted as this signifies a deliberate effort towards the implementation of the environmental sustainability agenda envisioned under the 8NDP.
Here are the key benefits of the Green Bond issuance:
1. Pioneering Green Finance: This upcoming issuance stands as a cornerstone in Zambia's financial landscape, affirming a dedicated focus on environmentally sustainable investments.
2. Addressing Climate Change: Aligned with Zambia's commitment to combating climate change, this initiative contributes to global sustainability endeavours.
3. Investor Opportunities: An exciting invitation awaits investors! Participation in this Green Bond offers a chance to mark a significant milestone while reaping financial returns coupled with positive environmental impact.
4. Supporting Green Initiatives: The proceeds from the Green Bond will fund eco-friendly projects, further solidifying Zambia's support for green initiatives.
5. Strategic Alignment: The Green Bond issuance seamlessly aligns with the Commission's vision, promoting sustainable finance in the national financial ecosystem.
Congratulations CEC renewables Limited on this great milestone achievement!

04/12/2023

The Fishtie copper project, being developed with Zambia's Mimosa Resources, is expected to start production in 2016.

27/11/2023

24/11/2023

The ZMW 6.9 million project is just one way that Kagem Mining and Govt are working together to improve access to education.

23/11/2023

According to MJI, the adjusted average IRI scores have fallen gradually since the inaugural report back in 2017.

09/11/2023

The Chinese miner grew its interest in First Quantum to 19.5% from 18.3%, after buying a total of 1.35 million shares this week.

09/11/2023

“With Kagem being 25% owned by the Zambian people through IDC, we are joint custodians of the people’s resources,” President Hakainde Hichilema said earlier this week, following a meeting at State House with Mr. Sean Gilbertson, CEO of Gemfields Group and Kagem Mining. “It is through joint ventures and partnerships like this that we can grow this key sector, to benefit the people from our natural resource endowment,” the President added.

The meeting involved important conversations about gemstone mining in Zambia, including “how to officialise artisanal miners as we create opportunities and employment in this strategic sector,” according to the President.

Stay tuned for Mining For Zambia’s next article, which explores the ways in which Kagem and Government are partnering to improve access to education in Lufwanyama District. Find it on our social media platforms, or email [email protected] to receive a copy the minute it’s published!

Photo and President Hichilema's quotes via: https://lnkd.in/d7tWAWsK

26/10/2023

26/10/2023

Pre-commissioning has started in part of the crushing circuit.

25/10/2023

For the first time, modern DNA sequencing of microbial communities has been used in the search for buried minerals.

23/10/2023

18/10/2023

The acquisition would mark the Chilean copper giant's first foray into the lithium space, in which is expected to play a key role.

16/10/2023

We're hiring!
Open Ownership is recruiting two short-term consultants to carry out two specific pieces of work.
1. Short-term consultancy: user research guide for developing beneficial ownership systems
2. Short-term consultancy: agile delivery internal training programme
Read more and apply by 12 November: https://www.openownership.org/en/about/jobs/

16/10/2023

Check out Kansanshi mine’s first Hitachi EH4000 (RD170) dump truck!

As part of the S3 project, First Quantum announced an investment of US$1.25 billion towards the expansion of the Kansanshi Mine, which includes expansion of the smelter, process plant and mining fleet.

Four more of these mammoth trucks are already being assembled on site and are part of the 36 trucks FQM is buying for the expansion of its mining fleet.

The mine is set to increase copper production by 2025 to between two 140,000 and 180,000 metric tonnes per year.

13/10/2023

Stockpiles rose for a sixth day to reach 181,150 metric tons, extending a threefold increase since July.

12/10/2023

After just missing out on succeeding Ivan Glasenberg at Glencore, Kenny Ives is now running the trading arm of CMOC Group.

07/10/2023

Production is forecast to exceed usage by 467,000 metric tons in 2024, a significant upward revision from the expected 297,000 metric ton surplus from April.

05/10/2023

Gibraltar is the second-largest open pit copper mine in Canada.

04/10/2023

Major construction works will begin after the rainy season that’s about to start, and will take three years to complete.

02/10/2023

Meet Maambo Malambo, Optimisation Superintendent for Mining Operations at Kansanshi Mine, and find out how she helps the mine to maximise efficiency

02/10/2023

02/10/2023

White hydrogen is a primary energy source as it is already present in that state in nature.

02/10/2023

PRESS STATEMENT

ZCCM-IH Shareholders to Receive a K724 million Dividend Payout as the Company Records a Total of K5.94 billion in Company Profit.

-IH

30/09/2023

The metals-to-oil Indian conglomerate seeks to boost growth amid a financial performance decline by parent company Vedanta Group.

29/09/2023

ACG had planned to buy a nickel mine and a copper mine from Appian Capital.

25/09/2023

The California-based firm is spending about $150 million to speed up additional exploration at its Mingomba project.

14/09/2023

PRESS STATEMENT BY THE CHIEF GOVERNMENT SPOKESPERSON ON THE DECISIONS MADE BY CABINET AT THE 15TH CABINET MEETING HELD ON TUESDAY, 5TH SEPTEMBER, 2023.

The President of the Republic of Zambia, Mr. Hakainde Hichilema, called for the 15th Cabinet Meeting in the Year 2023, on Tuesday, 5th September, 2023, at State House, where the Draft 2024 Budget was deliberated on including other policy issues.

Cabinet made the following decisions:

1. The 2024 National Budget:

Cabinet approved the Estimates of Revenue and Expenditure (The National Budget) for the Year 2024.

The 2024 Estimates of Revenue and Expenditure have been prepared in accordance with The Budget Policy Concept Paper on the 2024-2026 Medium Term Budget Plan which was approved by Cabinet at its 11th Meeting held on 12th July, 2023.

The Minister of Finance and National Planning is expected to present the 2024 National Budget in the National Assembly on Friday, 29th September, 2023, in line with Article 202 (1) of the Constitution of Zambia.

2. Declaration of Critical Minerals as Strategic Minerals for Zambia’s Development.

Cabinet approved the declaration of critical minerals such as copper, cobalt, lithium, tin, graphite, coltan, manganese, nickel, Rare Earth Elements (REEs), gold, sugilite, emeralds, diamonds and other minerals which Government may deem as strategic minerals essential in accelerating Zambia’s development.

The declaration of critical minerals, as strategic, will result in the formulation of the strategy on critical minerals which will stimulate Government and private sector participation in unlocking investments in the mineral value chain, thereby translating in the creation of more jobs as well as enhanced exploitation of the critical minerals to contribute significantly to the national treasury and to the country’s development.
3. Opening of Missions Abroad:

(a) Opening of a Resident Embassy in Abu Dhabi, United Arab Emirates.

During the Meeting, Cabinet also deliberated on matters of foreign relations. One of the issues approved by Cabinet was the Opening of a Resident Embassy in Abu Dhabi, the United Arab Emirates (UAE) in order to enhance bilateral relations and promote economic and political cooperation between Zambia and the UAE.

The United Arab Emirates, is a federation of seven Emirates. The constituent emirates are Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. Each emirate is governed by an absolute monarch who jointly form the Federal Supreme Council. One of the monarchs is selected as the President of the United Arab Emirates.

The UAE’s oil reserves are the seventh-largest in the world, while its natural gas reserves are the world’s seventeenth-largest. The UAE's economy is the most diversified in the Gulf Cooperation Council, with its most populous city of Dubai emerging into a centre for international trade and transport.

The United Arab Emirates estabilished Diplomatic Relations with Zambia in 1982. The two countries have since continued to enjoy warm and cordial relations that have created a platform for strengthened economic and political relations. Currently, Zambia’s Ambassador to the Arab Republic of Egypt is also accredited to the United Arab Emirates.

Zambian Foreign Policy of 2014, whose main focus is Economic Diplomacy, provides a unique platform for which Zambia could explore the possibility of concluding bilaterial agreements in a quest to solidify and strengthen the two countries’ bilaterial relations with emphasis on economic sectors, through the opening of a Resident Embassy in Abu Dhabi, UAE.

(b) Opening of a Resident Embassy in Doha, State of Qatar.

Cabinet also approved the opening of another Resident Embassy in Doha, State of Qatar so as to enhance bilateral relations and promote political and economic cooperation between the two countries.
The Republic of Zambia and the State of Qatar enjoy warm and cordial relations. The two countries have maintained diplomatic relations since they were established. Currently, Zambia’s Ambassador in Riyadh, Saudi Arabia, is accredited to the Qatar on non-residential basis. The Zambian Government desires to consolidate relations with the State of Qatar through enhancing cooperation in various economic sectors.

The economy of Qatar is one of the greatest in the world, based on GDP per capita, ranking among the top richest countries. Petrochemicals and fertilizers supply make up a large portion of the industrial base, along with steel and other construction materials. It has the world's third largest natural gas reserves, making it one of the world's largest exporters of Liquefied Natural Gas (LNG) and also has the largest gas fields with its oil and gas reserves accounting for over 60 percent of its GDP.

Therefore, with a Resident Embassy in Qatar, the Zambian Government has a lot to benefit from economic ties with the State of Qatar.

4. Hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform.

Cabinet, in line with its policy direction that Zambia should host as many international Conferences and Meetings, as a way to boost tourism, approved the hosting of the 19th Comprehensive Africa Agriculture Development Programme Partnership Platform (CAADP-PP), to be held from 1st to 3rd November, 2023.

Zambia is repositioning itself to be a breadbasket of the region and meet the domestic and regional demand for food. The country has also embarked on diversifying its agricultural production. Therefore, hosting the 19th CAADP-PP is important as it will provide Member States and other stakeholders with an opportunity to engage with one another as well as to share best African practices and leadership that have the potential to engender inclusive economic growth, benefit smallholder farmers, boost food production and end hunger across the African Continent.

Hon. Chushi Kasanda, MP
MINISTER OF INFORMATION AND MEDIA AND CHIEF GOVERNMENT SPOKESPERSON

13th September, 2023

12/09/2023

10/09/2023

The Minister of Mines and Minerals Development Hon. Paul C. Kabuswe MP, will this evening feature on ZNBC's TV1 Sunday Interview at 20:05HRS.

Make a date.

09/09/2023

Zambia, the land of Copper is about to witness a new chapter in its mining history as First Quantum Minerals gears up production at Enterprise Nickel Mine

06/09/2023

MEDIA STATEMENT ON KONKOLA COPPER MINES PLC

ZCCM Investments Holdings Plc and Vedanta Resources Limited resolve all disputes over Konkola Copper Mines Plc.

Vedanta Resources Limited commits to investing USD1 billion payable over 5 years for capital mine development, USD250 million to be paid to creditors, USD20 million per annum to go towards Corporate Social Responsibility, a 20% increase in Konkola Copper Mines Plc employee salaries, as well as an additional once-off payment of ZMW2,500 for all employees.

-IH

05/09/2023