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30% drop in revenue for Zambia

The second-largest copper producer in Africa, Zambia, has suffered a 30% drop in revenue over the three months to April due to the COVID-19 pandemic and the fallout could last for at least 12 months, the Chamber of Mines has said. Severe global restrictions on movement have hit mining supply …

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Arc Minerals acquires another stake in Zaco

  UK-based Arc Minerals has acquired another 20% stake in the Zaco prospect in Zambia, increasing its holding to 72.5% from 52.5% in exchange for Arc shares. Arc Minerals noted that the remaining interest would be held by its Zamsort project partner Kopara Investments. The additional stake has been acquired …

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Copper Prices Jump Higher on Supply

On Monday in New York, copper for delivery in March closed the day near $2.8640 a pound ($6,314 a tonne), an 8-month high and up 3% from 2019’s closing level. The US Treasury on Monday lifted China’s designation as a currency manipulator, paving the way for the signing on Wednesday …

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Will Zambian copper be part of the coming green revolution?

The global consensus, on display at last month’s World Copper Conference, is that copper will play a vital part in the coming ‘fourth industrial revolution’. Other mining jurisdictions are preparing for the massive increase in demand that is anticipated. How should Zambia position itself?  Copper has a bright future The …

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Another Copper Mine to Open in Toteng

Toteng in the Ngamiland District will get a second chance to host a copper mine with the re-opening of old Boseto Mine that will trade as Khoemacau Copper Mines under ownership of Cupric Canyon Capital. Khoemacau Copper Mines recently made international headlines after securing funding to the tune of US$565 …

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Barrick’s Q1 output in line with guidance

The major, supplanted Thursday as the world’s biggest gold producer by the formal creation of Newmont Goldcorp, said preliminary production came to 1.37 million ounces of gold and 106 million pounds of copper, which were in line with its operating plans and 2019 guidance. In the first quarter of 2018, …

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