(Reuters) – Glencore has agreed the sale of its majority stake in Mopani Copper Mines to Zambia’s mining investment arm ZCCM-IH in a $1.5 billion deal, the miner and trader said on Tuesday. The deal is funded by borrowings from Carlisa Investments Corp – a British Virgin Islands based company through which Glencore holds its […]
Carnival Furnishers Zambia Regional Manager, Josh Kabir is reported to be on the run after auctioning part of the company properties leaving over 200 workers stranded with four of the company outlets closed down. Carnival Furnishers Chingola Branch Manager, Francis Mubanga has since asked government to intervene in the alleged disappearance of Mr. Kabir and […]
ALL Flash Bus employees whose health situations put them at high risk of contracting the deadly Coronavirus will be on paid leave, company Proprietor Ismael Kankara has announced. Since breaking out in the Chinese town of Wuhan last December, COVID-19 has killed more close to 30,000 people worldwide and infected more than 700,000 globally. […]
A MANGANESE mine has been opened in Chief Mushota’s area in Kawambwa district, in Luapula Province, where it is targeting to employ about 500 local people. The company, which is trading as Stone Age Mining, has been carrying out mining explorations in the area since 2018 before it finally started operating late last year. Chief […]
ZAMBIA Aquaculture Cooperative Society (ZACOSO) Limited chairperson Collins Kachaka says the demonstration fish pond at Tungi Primary School in Mongu is expected to raise a minimum of K80,000 at harvest time. Dr Kachaka said in an interview that the pond, which was recently stocked with 10,000 fingerlings, is expected to produce four tonnes of fish […]
GOVERNMENT has stabilised the price of mealie-meal to K136 following the recent intervention. Minister of Information and Broadcasting Services Dora Siliya said the cost of mealie-meal is expected to get lower when the new crop hits the market in April and May. “The mealie-meal price has hit over a K100 mark and for many years […]
TH E Z a m b i a Revenue Authority (ZRA) has seized four trucks worth K 2 . 1 m i l l i o n imported using a forged value added tax (VAT) deferment facility at Nakonde border post. ZRA commissioner of customs services Sydney Chibbabbuka said the interceptions in Nakonde are some […]
THE Copperbelt Province is earmarked for a US$450 million investment in solar energy generation. And provincial permanent secretary Bright Nundwe has urged public officers in the province to reduce audit queries as those found wanting will be prosecuted. Meanwhile, Mr Nundwe has disclosed that the National Housing Authority (NHA) is expected to build 200 houses […]
AFRICAN Green R e s o u r c e s (AGR), one of the country’s l a rg e s t f a r m input suppliers, in partnership with Agri Option Ltd (AOL), is next month expected to start building a US$2.5 million 2 megawatts (MW) solar farm in Mkushi district. The pilot […]
YALELO Limited chief executive officer Bryan McCoy has commended Development Bank of Zambia (DBZ) for trusting the organisation with equity to enable it to address operation challenges. “When DBZ originally invested in Yalelo, we were actually a small company that was beginning to [learn] how fish could be grown in Lake Kariba. We had just […]