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Zambian President pledges government support for Lubambe mine expansion

Zambian President Edgar Lungu has assured ZCCM Investments that the country’s government will support the miner’s expansion of its Lubambe copper mine.

In visiting the Chililabombwe-based ZCCM Investments on January 7, Lungu said the Lubambe extension was “too much good news to be ignored” and directed State House Minister Freedom Sikazwe and his office technocrats to ensure the mine gets all the support and necessary approvals required to ensure the project is a success.

Lungu was accompanied by Zambia Mines and Minerals Development Minister Richard Musukwa and other Cabinet Ministers, permanent secretaries and local government leaders.

As such, Lungu directed Lubambe operations director Tony Davis to provide details of the help that the mine required to expedite all pending processes.

He added that the future of the Lubambe project lies in the extension project, which is located 6 km south of the existing mine.

In July 2020, the Lubambe mine completed an advanced concept study confirming the potential of the Lubambe extension project at 247-million tonnes at a grade of 3.64% copper.

Davis also revealed that the mine had increased production by 70%, from one-million tonnes of copper in 2017 to 1.7-million tonnes in 2020.

However, Lungu also emphasised that all processes required for the project to take off must be followed to the letter to ensure the project is executed appropriately.

“You have my support on this project, but I wish to emphasise that all processes and requirements must be fulfilled so that everything is done according to book and within legal requirements and provisions,” he said.

In turn, Davis pledged the mine’s commitment to doing its part to provide the details and information required by government.

While at the mine, Lungu urged Lubambe employees and labour unions at the mine to increase production. “I want to tell you that nothing succeeds like hard work. We all need to work hard and sustain production so that no job is lost. Produce more and demand more.”

He also thanked the mine’s management for being one of the outstanding mines in Zambia in terms of health and safety discipline, despite tragedy that occurred in November 2020 when a miner died.

Lubambe generally has a good safety record, said Lungu.

Source: https://www.miningweekly.com/article/zambian-president-pledges-government-support-for-lubambe-mine-expansion-2021-01-11
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Zambia concludes talks with Glencore on mine operations

Zambian President Edgar Lungu on Friday said the government has concluded talks with Glencore, the Anglo-Swiss multinational commodity trading and mining company, regarding its desire to increase its stake in its mining operations in the country.

The government, through its investment agency, the Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) currently holds 10 percent in Mopani Copper Mine while Glencore owns 73.1 percent with the other 16.9 percent owned by First Quantum Minerals.

The Zambian president said the conclusion of talks will bring certainty to the workers and the industry.

The Zambian president was speaking when he addressed workers at the mining firm in Kitwe city on the Copperbelt Province, according to the state broadcaster, the Zambia National Broadcasting Corporation.

The government, he said, will next week sign an agreement with Glencore following the conclusion of the talks and that the government will do its part to ensure the mining firm remains afloat.

The government recently expressed its desire to increase its stake in some of the mining operations in the country.

Minister of Mines and Minerals Development Richard Musukwa said recently that the 10 percent stake held in some mining firms was not sufficient. Enditem

Source: https://newsghana.com.gh/zambia-concludes-talks-with-glencore-on-mine-operations/
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Glencore to conclude sale of Mopani stake to Zambian govt this week – state media

Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday, January 8.

An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu.
“Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa’s 90% stake in Mopani to ZCCM, Glencore said in a statement.

Source: https://www.metalbulletin.com/Article/3969975/Glencore-to-conclude-sale-of-Mopani-stake-to-Zambian-govt-this-week-state-media.html
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Glencore to conclude sale of Mopani stake to Zambian govt this week – state media

Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday January 8.

An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu.
“Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa’s 90% stake in Mopani to ZCCM,” Glencore said in a statement.

 

Source : https://www.metalbulletin.com/Article/3969975/Glencore-to-conclude-sale-of-Mopani-stake-to-Zambian-govt-this-week-state-media.html
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PRESIDENT EDGAR LUNGU TOURS LUBAMBE MINE

By Brightwell Chabusha

President Edgar Lungu has toured Lubambe Copper Mine on the Copperbelt.

Lubambe Copper Mine is an underground mining operation situated on the Zambian Copperbelt close to the town of Chllilabombwe.

The Lubambe Copper Mine is 80% owned by EMR Capital Resources, while 20% is held by ZCCM Investments Holdings Plc.

The tour of the Mine is part of the Head of State’s three-day working visit on the Copperbelt Province.

The Head of State will proceed on a tour of projects in the province.

President Lungu will on Saturday congregate with Christians at one of the Seventh Day Adventist Churches in Kitwe before departure for Lusaka later in the afternoon.

 

Source: https://zambiareports.com/2021/01/07/president-edgar-lungu-tours-lubambe-mine/
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PRESIDENT EDGAR LUNGU TOURS LUBAMBE MINE

President Edgar Lungu has toured Lubambe Copper Mine on the Copperbelt.

Lubambe Copper Mine is an underground mining operation situated on the Zambian Copperbelt close to the town of Chllilabombwe.

The Lubambe Copper Mine is 80% owned by EMR Capital Resources, while 20% is held by ZCCM Investments Holdings Plc.

The tour of the Mine is part of the Head of State’s three-day working visit on the Copperbelt Province.

The Head of State will proceed on a tour of projects in the province.

President Lungu will on Saturday congregate with Christians at one of the Seventh Day Adventist Churches in Kitwe before departure for Lusaka later in the afternoon.

Source : https://zambiareports.com/2021/01/07/president-edgar-lungu-tours-lubambe-mine/
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Zambian court denies Vedanta attempt to halt Konkola Copper Mines split

LUSAKA (Reuters) – A Zambian court on Monday dismissed a motion by miner Vedanta Resources’ seeking to stop a state-appointed provisional liquidator from splitting up its Konkola Copper Mines (KCM) unit and selling the assets.

The ruling is a blow to the Indian-owned mining company which has said it would fight any attempt by Zambia to sell KCM to third parties.

Vedanta has been locked in a protracted dispute with the Zambian government since May 2019, when the Zambian government, which owns 20% of KCM through state mining investment firm ZCCM-IH, handed control of the mine to a liquidator.

Judge Winnie Sithole-Mwenda discharged a Jan. 18 injunction order which Vedanta had sought to restrain Provisional Liquidator Milingo Lungu from splitting KCM and selling the assets. Lungu has previously said asset disposal is KCM’s last remaining option

Vedanta Resources declined to comment on the ruling.

The provisional liquidator said: “As KCM we welcome the ruling.”

Lungu said the order that instated him as provisional liquidator set out powers including the ability to split and sell the company.

In a restructuring announced in December, Lungu said KCM would be split into two subsidiary companies: KCM SmelterCo Limited and Konkola Mineral Resources Limited, effective Feb. 1.

While the split was delayed by Vedanta’s injunction order, Lungu on Monday told Reuters he is confident the two entities will begin to operate soon.

Sithole-Mwenda cited procedural reasons in dismissing the order.

“The ex parte Order of Injunction dated 18th January 2021 is, accordingly, discharged forthwith,” she wrote in the ruling.

The ruling awarded costs to the defendants (the provisional liquidator and KCM) and denied leave to appeal.

Vedanta and Zambia are still in arbitration proceedings in London over the KCM dispute, which began when the government accused Vedanta of failing to honour licence conditions, including promised investment.

Vedanta has previously denied that KCM broke the terms of its licence.

Zambia’s Court of Appeal in November ordered a halt to KCM liquidation proceedings, to allow Vedanta and ZCCM-IH to proceed to arbitration. ZCCM-IH is appealing that ruling.

 

Source : https://www.reuters.com/article/us-zambia-mining-vedanta-idUSKBN2A12IO
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ZCCM IH provides a further update on the Mopani discussions

ZCCM IH has indicated that discussions around the future of Mopani are currently still under discussion, according to a statement released by the company.

“Further to the cautionary announcement date 4th September 2020, ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) wishes to advise Shareholders and the market that the Company’s discussions with Glencore Finance (Bermuda) Ltd regarding the future of Mopani Copper Mines Plc (“Mopani”) are still in progress which, if successfully concluded may have a material impact on the price of the Company’s securities”, read a statement issued by order of the Board through Company Secretary Chabby Chabala in Lusaka on 21 December 2020.

ZCCM-IH is in discussions with Glencore Finance (Bermuda) Ltd regarding the future of Mopani Copper Mines Plc (“Mopani”) for some time now. Glencore Finance is the major shareholder of Carlisa Investments Corporation which in turn is the majority shareholder of Mopani.

In August 2020, Mining-journal.com report that Mines minister Richard Musukwa told Reuters ZCCM-IH was seeking a larger stake “with a view to holding a controlling stake in Mopani”. Although the SENS announcements from ZCCM have not indicated that ZCCM IH are seeking a larger stake, this is the reason why they have advised Shareholders to exercise caution when dealing in the Company’s securities until a full announcement is made.

Discussions with the mining company and the investment group were prompted when Glencore CEO Ivan Glasenberg confirmed Mopani was operating under care and maintenance.

Source: http://fizambia.com/?p=9355
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Illegal Miners Invade Kasenseli Gold Mine

A group of illegal miners in Mwinilunga District have brought down a parameter fence covering Kasenseli Gold Mine.

And the group has allegedly stolen undisclosed quantities of alluvial gold after invading the mining premises.

Mwinilunga District Commissioner Anolt Mapulanga who confirmed the incident has expressed disappointment with the recent developments.

Mr. Mapulanga said those behind the behaviour need to realise that the infrastructure they are destroying belongs to Zambians and their act is irresponsible.

He stated that the Zambia Police has been directed to step up its security to ensure installations are not tempered with.

Mr. Mapulanga added that his office will not watch criminal elements disregard the law with impunity and engage in retrogressive activities.

“Government will sit down and allow criminality, the installation by ZCCM Gold is being done on behalf of all Zambians and it is it sad to see the same zambians vandalising the infrastructure.

Source: https://zambiareports.com/2020/12/03/illegal-miners-invade-kasenseli-gold-mine/
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ZCCM-IH to appeal court decision asking it to enter arbitration with Vedanta

ZAMBIAN mines minister, Richard Musukwa, said the country’s government remained steadfast in its desire to find a buyer for control of Konkola Copper Mines (KCM), currently owned by Vedanta Resources.

“It is still the government’s wish to find a new equity investor with technical and financial capacity to recapitalise the mine and operate it effectively,” Musukwa said after the state mining arm ZCCM-IH signalled its intention to appeal a court ruling in favour of Vedanta.

Earlier this month, a Court of Appeal ruled that ZCCM-IH should go into arbitration with Vedanta regarding disputes related to KCM. Vedanta owns 80% of KCM with ZCCM-IH owning the balance. Musukwa, however, said the country wanted KCM to be put into liquidation proceedings.

In 2019, Zambia accused Vedanta of failing to live up to its investment and dividend promises and barred the Indian company from accessing KCM assets. Vedanta argued that any dispute between shareholders should be negotiated in terms of their agreement.

“ZCCM-IH has already indicated that they are appealing because they are not happy with the court judgment,” Musukwa told Zambia’s parliament on Thursday.

Potential buyers of KCM were awaiting a resolution to the dispute, Musukwa said, adding that steps taken by the government should not be “considered as nationalism”.

Vedanta was not immediately available for comment, said Reuters.

Source: miningmx