high pressure leach
facility at Kansanshi
mine, in north-west
Zambia]Lusaka, Zambia --- MININGREVIEW.COM --- 06 June 2008 - Zambia’s top copper producer – Vedanta Resources Plc's Konkola Copper Mine (KCM) – has cut power usage by 12% during peak periods without affecting production.
Katanga’s Luilu thickener
in the DRC being
checked after cleaning]London, England --- MININGREVIEW.COM --- 06 June 2008 - Katanga Mining Limited – headquartered in London and listed on the Toronto Stock Exchange – may become a takeover target when the government of the Democratic Republic of Congo (DRC) completes its mining license review, reports Bloomberg News.
on conveyer feeding
the mill at Bwana
Mkubwa in Zambia]Lusaka, Zambia --- MININGREVIEW.COM --- 03 June 2008 - The supply of power to mines in Zambia will continue without change, while power rationing to domestic consumers will be cut further, following a technical fault that has disrupted electricity imports from the neighbouring Democratic Republic of Congo (DRC).
has stepped down as
chairman of Albidon
Limited]London, England --- MININGREVIEW.COM --- 30 May, 2008 - ASX and AIM-listed Albidon Limited – an Africa-focused exploration and development company with an emphasis on nickel – has announced that its chairman Richard Potts is to step down and hand over to a new chairman as the company starts production at its Zambian nickel project.
tranquility in Rwanda –
but this will change
if mining continues
to develop in
the country]Kampala, Uganda --- MININGREVIEW.COM --- 29 May 2008 - Rwanda's low-key mining industry has emerged as a top contender to become the country's leading foreign exchange earner, beating forecasts for earnings in 2007 by the Rwanda’s traditional exports.
Metorex’s Ruashi project
at Kolwezi, showing
where new copper and
is underway]Lubumbashi, DRC - MININGREVIEW.COM --- 26 May 2008 - The mineral-rich Katanga province in the Democratic Republic of Congo (DRC) has threatened to extend restrictions on mineral exports to include a ban on copper concentrate if minerals companies do not move to increase local processing.
Zambian mining production,
and hence new taxes,
are on course]Lusaka, Zambia --- MININGREVIEW.COM --- 23 May 2008 - Zambia is on course to collect a projected US$415 million (R3.1 billion) from new mining taxes in 2008, following compliance by the major mining companies operating in the country.
So reports Reuters, quoting a senior tax official here, but the news agency points out that this contradicted a statement by a top treasury official earlier in the week.
Kawanga uranium target
Zambia]London, England --- MININGREVIEW.COM --- 22 May 2008 - Kiwara plc – a mining, exploration and development company focused on copper, nickel, cobalt and uranium, specifically in Zambia – has struck potentially viable uranium grades at four drill holes on its Kawanga target in the north-west of the country.
[img:Zampower%20-%20Pic%201_3.jpg|Kansanshi copper mine
– one of the biggest
in the country]Lusaka, Zambia --- MININGREVIEW.COM --- 20 May 2008 - Zambia is unlikely to collect a projected US$415 million (R3.1 billion) from new mining taxes this year because of disruptions in power supply, which cut production in the country’s copper and cobalt mines.
Quoting ministry of finance permanent secretary Emmanuel Ngulube, Reuters reports from here
that the first money of the projected US$415 million (R3.1 billion) for this year is due to start coming in June. “But, the power outages are a big challenge because they will indeed affect the production of the mines,” he said, “therefore we expect the revenue to reduce.”
This additional income would have been a direct result of Zambia’s new tax regime, which came into effect on April 1. It involved an increased mineral royalty to 3% from 0.6%, while corporate tax on miners has risen to 30% from 25%. The Zambian government also introduced a 15% variable profit tax on taxable income above 8%, and a minimum 25% windfall profit tax.
Zambia has a power deficit of about 250 megawatts, and this led state utility Zesco Ltd to ration power due to rising demand for electricity from the copper mines.
Derek Webbstock – chief executive of Luanshya Copper Mines, which operates Baluba copper mine and Chambishi Metals Plc, Zambia's leading cobalt producer – said the company had lost US$5 million (R38 million) after the two power failures in January. Some industry officials said they had stopped operations at some mines to avoid endangering lives of miners and damaging equipment.
Miners said the new tax would discourage investment in the sector, which is a major employer and foreign exchange earner for Zambia. And Chamber of Mines of Zambia head Frederick Bantubonse, said this could lead to mining companies facing problems in raising capital for mine upgrades and expansions.
Caption, Pic 1: Kansanshi copper mine – one of the biggest mining operations in the country.
mine – a view of the
concentrator in the
dry ore section at
Chibuluma South]Maputo, Mozambique --- MININGREVIEW.COM --- 16 May 2008 - Higher copper exports are likely to help the Zambian economy to expand by 7% this year and by up to 10% in 2010.
This was the prediction of Zambian Finance Minister Ng'andu Magande in an interview with Reuters on the sidelines of the African Development Bank annual meeting in the Mozambican capital.