Copper Production to Hit 900,000 Tonnes

Copper Production to Hit 900,000 Tonnes

THE continued favourable copper price on the global market and opening of new mines are likely to boost gross production to almost 900,000 tonnes this year, a senior Government official says. Currently, Zambia produces an average of 870,000 tonnes per annum. Ministry of Mines and Minerals Development Permanent Secretary Paul Chanda said with all factors […]

Weak Kwacha to Gain Strength

Weak Kwacha to Gain Strength

WITH the upcoming auctioning of treasury bills, the Kwacha is tilted towards the appreciation trends against the strong greenback, financial market players say. Treasury bills, which are short-term debt obligations backed by the Government with a maturity of less than one year, segmented in 91,182,273 and 364 days, have varying interest rates of between 14.49 […]

KAGEM Mining Discovers High Quality 5,655 Carat (1.13kg) Emerald Crystal At Its Mine In Lufwanyama.

KAGEM Mining  Discovers High Quality 5,655 Carat (1.13kg) Emerald Crystal At Its Mine In Lufwanyama.

The emerald – dubbed ‘Inkalamu’, the Lion Emerald – shows remarkable clarity with a perfectly balanced golden green colour, and is already creating a buzz in the global gemstone industry ahead of its auction in Singapore next month (November). Inkalamu was discovered at Kagem, the world’s largest emerald mine, which is 75% owned by London-based […]

ZICB To Boost Local Firms

ZICB To Boost Local Firms

The establishment of the Zambia Industrial Commercial Bank Limited (ZICB) and its subsequent launch yesterday will boost liquidity and participation of local businesses in economic growth. Minister of Finance Margaret Mwanakatwe said Government will continue partnering with the private sector, especially small and medium enterprises (SMEs), in finding solutions to the challenges facing the country. […]

GRIZZLY MINING NOT AWARE OF THE $ 50 MILLION ARBITRATION AWARDS FOR BILLIONAIRE LEVI LEVIEVE

Management at Gemcanton Emerald Mines Ltd of Lufwanyama is not reasonably aware of any arbitration awards allegedly entered against it by the International Court of Arbitration as reported in the Bloomberg Newspapers. The Company is presently not aware of any Arbitration awards or legal costs entered against it by any court whether locally or internationally. […]

MARIA ZALOUMIS BOUNCES BACK AT ZNFU*

  Controversial Vegetable Farmer and cattle rancher Maria Zaloumis, has been elected as Commodity Director at the on-going Zambia National Farmers Union(ZNFU). This is despite a social media fire-storm that engulfed her because of her alleged sexual relationship with a married man, a Mr Justin Phiri. The members have voted overwhelmingly for the industrious young […]

Investing In Zambia Was A Simple Choice – German Investor …..Chikunto Lodge In Mfuwe Resort In The Middle Of Nowhere

Investing In Zambia Was A Simple Choice – German Investor  …..Chikunto Lodge In Mfuwe Resort In The Middle Of Nowhere

A German businessman says investing in Zambia was a simple investment choice to make as it was based on the country’s unique but important qualities such as peace and political stability. Mr. Jens Kant, owner and Chief Executive Officer of Chikunto Lodge in Mfuwe says Zambia topped many investment destinations in the world in general […]

BoZ Warns Against Currencies

BoZ Warns Against Currencies

The Bank of Zambia (BoZ) has called on members of the public to be wary of risks associated with transacting in cryptocurrencies. Cryptocurrencies, which are decentralised digital currencies with the most common being Bitcoin, have taken the global market by ‘storm’ and Zambia has not been spared. BoZ said in a statement yesterday that the […]

$200m Gives KKIA New Shape

$200m Gives KKIA New Shape

About US$200 million has so far been spent on construction of a new terminal at Kenneth Kaunda International Airport. Minister of Housing and Infrastructure Development Ronald Chitotela said US$360 million will be spent on the project, which is being financed through a loan from Exim Bank of China. Mr Chitotela said this yesterday after touring […]

Investors Invade Samfya District

Investors Invade  Samfya District

Provincial investment expositions are proving to be a hit, with Samfya district, Luapula Province, running out of land on lake shores as a result of overwhelming response from investors. Luapula Province held the first-ever such investment expo in July last year, which has triggered a scramble for prime land by local and foreign investors, according […]

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