Successful Listing Of Zambia’s First Green Bond On The LuSE

3th January 2024, Lusaka – We are pleased to announce the successful listing of Zambia’s debut Green Bond on the Lusaka Securities Exchange (LuSE).

This milestone, which has been achieved through CEC’s subsidiary, CEC Renewables Ltd, will play a crucial role in driving renewable energy development in the country.

The listing ceremony was held on 12 January 2024 at the Intercontinental Hotel in Lusaka with the Minister of Finance and National Planning, Dr. Situmbeko Musokotwane as Guest of Honour.

Dr. Musokotwane commended the CEC Group for successfully listing the Green Bond for Zambia and contributing to the growth of the capital markets.

Dr. Musokotwane said the initiative that has been taken by the CEC Group is indeed climate smart and will not only significantly contribute to meeting the increased energy demand arising from the anticipated expansion of the economy but will also support Government’s commitment to climate mitigation, while also focusing on building and developing key sectors of the economy such as mining, agriculture, among others.

Also speaking at the ceremony, the CEC Group Board Chairperson, Mr. London Mwafulilwa said the Group is thrilled to be the first Company to issue a Green Bond in Zambia.

Mr. Mwafulilwa added that the Company remains keen on actualizing its green energy generation ambitions and will seek to attain this, as it issues the remaining tranches of the $ 200 million bond. Read More

CEC Commissions 60MW Itimpi Solar Photovoltaic Power Station In Kitwe

Copperbelt Energy Corporation (CEC) has taken a significant stride towards sustainable operations with the successful commissioning of the 60-megawatt Itimpi Solar Photovoltaic Power Station in Garneton, Kitwe, held on Wednesday, 10th April 2024. The Plant was unveiled by the President of the Republic of Zambia, H.E. Mr Hakainde Hichilema, along with other dignitaries and stakeholders.

During the event, President Hichilema remarked, “What CEC has done today adds to our agenda as a nation to generate diversified electric energy. When CEC does what they have done today, we must see that [Itimpi Solar Plant] is a Zambian asset and investment which will contribute to the national economic development agenda.”

CEC’s Board Chairperson, Mr London Mwafulilwa, emphasized the company’s commitment to partnering with the government and other sector players to advance the electricity sector and contribute to the socio-economic development of the country. “This is an affirmation of our commitment as CEC to partnering first of all with the government and indeed with other sector players to contribute to the advancement of the electricity sector and the social-economic development of our country,” he stated.

CEC’s Managing Director, Mr Owen Silavwe, highlighted the significance of the project, remarking, “The combination of our Itimpi and our Riverside Solar Plants will deliver a total annual energy output of 186 GWh… The drought we have experienced this year is a wake-up call for the energy sector to be at the centre of driving lasting solutions that will ensure a consistent power supply to our economy at all times.” Read More

Luanshya 28 Mine Shaft Project Explained

 

President Hakainde Hichilema recently commissioned the process of de-watering the flooded 28 Shaft at Chinese-owned CNMC Luanshya Copper Mines in Luanshya.

The pumping out of water from 28 Shaft will pave the way for the commencement of actual copper mining at the site which has been dormant for over 20 years.

According to CNMC Luanshya Copper Mines – Manager Corporate Affairs – Sydney Chileya, the $500 Million project will see water pumped out from 14 and 18 Shafts that are aligned to the famous 28 Shaft.

Mr. Chileya has revealed that the process of pumping out water from the three shafts is expected to commence on April 29 and will last between 18 and 21 months.

At the peak of the project about 3000 jobs are anticipated to be created.

“That project will create about 3000 jobs in total, which will be about 1,800 direct jobs and 1,200 contractual jobs. The 28 shaft is going to have its own concentrator, so we are constructing a concentrator about two to three kilometers away from 28 Shaft. That is a treatment plant for the copper to be coming from 28 Shaft,” Mr. Chileya told Radio Icengelo News.

FQM Redoubles Tree Planting Efforts for 2024

 

Source: Langmead & Baker

First Quantum CEO Inspects Progress of S3 Expansion at Kansanshi

The S3 expansion entails an expansion of the mine pit and the mining fleet that services it, as well as the construction of a new processing plant, and a major expansion of the Kansanshi smelter. The result will be to extend Kansanshi’s mine life as a world class asset into the 2040s, increase copper production to more than 200,000 tonnes a year while continuing to drive economic development and jobs in Zambia.

To ensure continuation of the S3 expansion in the face of disruption to its Cobre Panama mine in Panama, First Quantum has recently raised US$3.3 billion as part of a comprehensive refinancing package and a copper pre-payment arrangement. The company has also extended its debt facilities through to mid-2027, providing the pathway to deliver on its commitment to Zambia with the S3 expansion.  

Commenting after his site inspection, Mr Tristan Pascall, said he was pleased to see the level of progress on the ground at Kansanshi.

“It’s great to be at Kansanshi, and to see that the S3 development work is progressing on the ground according to plan. Kansanshi – and Zambia, in general – has been the mainstay of our mining activity for the last twenty years, and will be just as important to us for the next twenty. We’ve had to adapt ourselves to unforeseen circumstances over the last few months, but we’ve met challenges before, always finding a way through and coming out stronger. Completing the S3 expansion on schedule is a priority for us, and the actions we have taken recently puts us in a strong position to do just that. I look forward to my next visit here, to see this project through to its completion.”

 

Source: Langmead & Baker

FQM Welcomes Export Proceeds Framework

Source: Langmead & Baker

CNMC to invest US$1.3bn

China Non-ferrous Mining Corporation (CNMC) has pledged US$1.3 billion investment for the next five years to cater for its various operations in mining, science and education technology.

CNMC group chairperson Xi Zhengping yesterday told President Hakainde Hichilema that by the end of 2025, half of the US$1.3 billion investment would have been completed and the Chambeshi Copper Mines would also receive US$450 million.

He said there were plans to reopen shaft 28 at the Luanshya Copper Mine with an investment of US$600 million while about US$200 million would be invested in Sino Metals and a warehouse project.

Mr. Xi Zhengping who was on a three-day visit to Zambia said just like Zambians, his company had confidence in the Government to attract investment and improve the people’s lives. He said his company was also ready to assist Zambia in mineral explorations and greenfields using its expertise in geological explorations.

“Zambia is also endowed with other mineral resources such as lithium, manganese, zinc and other resources, so we are willing to do more work on this as well,” he said.

Read More 

Job Advertisement: Multiple Employment Opportunities at Kabundi Resources Limited (”KRL”)

Kabundi Resources Limited (KRL), is a wholly owned subsidiary of ZCCM Investments Holdings Plc, managing the manganese license that ZCCM holds in Serenje District, Central Province of Zambia.  
The Company invites applications from suitably qualified and experienced persons who are innovative, energetic and performance driven to fill the position listed Below: 

  1. Shift Boss x 2
  2. Equipment Operators x 5
  3. Artisan Fitters x 2
  4. Weighbridge Operator x 1
  5. Store Officer x 1
  6. Mine Spotters x 2
  7. Maintenance Assistant x 1
  8. Cook x 1

 

*Please Note that the Duty Station is KRL Mine, Serenje 

Applications CLEARLY MARKED WITH THE POSITION TITLE, together with copies of certificates and detailed curriculum vitae should be addressed to: 

 

Human Resource Officer 
Kabundi Resources Limited 
and forwarded to Jobs@krl.com.zm 

The Application should reach the undersigned not later than 15th August 2023 

Only successful candidates will be responded to.

Please refer to the links below for detailed information about the positions