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Konkola Radio 96.5FM is now open in Chililabombwe.
08/06/2024

Konkola Radio 96.5FM is now open in Chililabombwe.

Hon. Paul CC Kabuswe SCORES ON KCM AS CLASS 2 CREDITORS VOTE IN FAVOUR OF SCHEME OF ARRANGEMENTS. An impressive 99% of C...
30/05/2024

Hon. Paul CC Kabuswe SCORES ON KCM AS CLASS 2 CREDITORS VOTE IN FAVOUR OF SCHEME OF ARRANGEMENTS.

An impressive 99% of Class 2 creditors vote in favour of the proposed scheme.

This follows last week’s Class 1 meeting, where 99.6% of creditors voted in support.

With a cumulative approval rate of 99.3% from both classes of creditors, the scheme has
comfortably exceeded the required 75% threshold. The outcome is a resounding endorsement of Vedanta’s vision for KCM’s future and ability to drive growth and sustainability.

The scheme is now poised to move forward with the next stage of the process, which is the court sanctioning process, a critical step towards implementing the scheme.

The overwhelmingly positive outcome of these meetings serves as a powerful
endorsement of the trust creditors have placed in the vision for KCM’s future.

Credit: Chililabombwe Accurate News

KCM Creditors Scheme of arrangement meetings happening in Kitwe today. Companies have already started arriving. Finally ...
24/05/2024

KCM Creditors Scheme of arrangement meetings happening in Kitwe today. Companies have already started arriving.
Finally KCM Getting restored.

Thanks to President Hakainde Hichilema and Hon. Paul CC Kabuswe.

PRESS STATEMENT ON KONKOLA COPPER MINES FOR IMMEDIATE RELEASE.ISSUED BY: KANGWA K KAMANDOVICE YOUTH CHAIRPERSON INCHARGE...
23/05/2024

PRESS STATEMENT ON KONKOLA COPPER MINES FOR IMMEDIATE RELEASE.

ISSUED BY: KANGWA K KAMANDO
VICE YOUTH CHAIRPERSON INCHARGE OF POLITICS.

Kitwe 23.05. 2024

Allow me to bring to the fore the enemies of our Country in this case being the entire opposition in the Country have been revealed as enemies of their own Country.

Konkola Copper Mines announced that will be creditors who are owe below $1million tomorrow and those above that threshold on the 30th of May. Let me take this opportunity to thank His Excellency the President of the Republic of Zambia for his leadership and His Minister of Mines for not changing goal posts when it came to matters relating to KCM.

After the creditor scheme if arrangements is completed Vedanta will release $240 million for local contractors and suppliers, $20 million for CSR for Chililabombwe, Chingola, Kitwe and Nampundwe.

Vedanta in the same breath will introduce a salary increment of 20 percent for all workers and a 2500 once off payment across the board.

Now one would wonder why people that are aspiring to lead this nation including the unscrupulous politicians who r***d the asset and made it a cash cow are standing on anthills and watering down this great achievement and milestone not for UPND but for the Nation.

Let me urge people like Emmanuel Mwamba, Fred M’membe and Edith Nawakwi to keep quiet and let government fulfill its promises and Mandate.

I want to remind the Country that when FDD leader was Minister of Finance she sold Mopani to Glencore with a shareholding structure that left the nation with only 10 percent in Mopani.

President Hichilema and his Minister have worked beyond expectations of most and that is the reason why Zambians should give them their votes in 2026.

Press Statement for Immediate Release...By Chililabombwe Youth Graduates Club22 May 2024CREDITORS SUPPORT FOR THE SCHEME...
22/05/2024

Press Statement for Immediate Release...

By Chililabombwe Youth Graduates Club

22 May 2024

CREDITORS SUPPORT FOR THE SCHEME OF ARRANGEMENT IS THE OPTIMAL SOLUTION FOR KCM:

For over five years, Konkola Copper Mines (KCM) has lacked proper capitalization and production. The asset is currently on the verge of collapse, and everyone stands to lose if normal operations do not resume soon.

It is for this reason that we urge all creditors involved in the scheme of arrangement meetings on May 24th and 25th to support the process. This is the only way the community, contractors, suppliers, workers, and other stakeholders will be guaranteed benefits from the asset.

As Chililabombwe Graduates, we commend President Hakainde Hichilema, Honourable Kabuswe, and the UPND government for their efforts in resolving the issues surrounding KCM. We can now see the light at the end of the tunnel.

We are eager to see the escalating levels of unemployment and poverty come to an end in our community.

With the commitments made by Vedanta Resources, including investing over $1 billion in KCM, increasing workers' salaries, allocating $20 million annually towards corporate social responsibility, and providing a K2500 one-off payment upon resumption of works, we are confident that the future is bright and imminent.

We hope all creditors attend the meetings in peace, and we anticipate a positive outcome soon after.

God bless.

Alinuwila Singoyi
Club Chairperson

PRESS STATEMENT FOR IMMEDIATE RELEASE...GOVERNMENT SHOULD INJECT THE $24 MILLION FORFEITED BY MILINGO LUNGU BACK INTO KC...
14/05/2024

PRESS STATEMENT FOR IMMEDIATE RELEASE...

GOVERNMENT SHOULD INJECT THE $24 MILLION FORFEITED BY MILINGO LUNGU BACK INTO KCM TO SAVE JOBS:

By the Vedanta Must Return Community Campaign Movement (Chingola/Chililabombwe)

14. 05. 2024

Since KCM was placed under liquidation in 2019, the towns of Chingola and Chililabombwe have experienced unprecedented levels of unemployment resulting from thousands of people being placed on forced leave or experiencing termination of their contracts.This unfortunate situation has led to an alarming rise in poverty levels, crime rates, and numerous other illicit activities, directly attributable to the lack of financial capital for KCM's operations.

Given the prevailing circumstances, the forfeiture of substantial funds by Mr. Milingo Lungu, which were misappropriated from KCM, presents an opportunity for government to alleviate this crisis and safeguard the livelihoods of the people by reinvesting the money back into KCM.

The injection of these funds into KCM holds the promise of averting the economic deterioration that has been prevailing within our communities.

Even as we anticipate the complete handover of KCM to Vedanta Resources, it is prudent to ensure that available liquidity is strategically reinvested into the asset. This will serve as a comprehensive strategy aimed at revitalizing the mining sector and fostering sustainable economic growth.

These funds, if allocated towards KCM's operational needs, has the potential to yield substantial benefits for the affected communities, offering a lifeline to those facing economic uncertainty.

We, therefore, implore the government, particularly the Finance Minister, Honourable Situmbeko Musokotwane, to allocate these funds towards the revitalization of KCM.

This concerted effort, coupled with Vedanta's significant investment commitments of $1.3 billion investment, $250 million for contractors and suppliers, and $20 million for Corporate Social Responsibility (CSR) activities, represents a holistic approach to addressing the multifaceted challenges confronting our communities.

The availability of these funds stand as a pivotal opportunity to mitigate the escalating socioeconomic challenges being faced by the communities of Chingola and Chililabombwe.

Thank you

Chishala Mwamba
Movement Coordinator

UP-CLOSE WITH COPORATE COMMUNICATION GURU, Masuzyo MASUZYO  NDHLOVUZambia’s corporate communication industry would be in...
07/05/2024

UP-CLOSE WITH COPORATE COMMUNICATION GURU, Masuzyo MASUZYO NDHLOVU

Zambia’s corporate communication industry would be incomplete without the mention of Mr Masuzyo Ndhlovu, who graced our television screens with his prolific news anchoring charisma.

Masuzyo, a passionate communicator, golfer and Vedanta’s communication specialist, was born on Christmas day,49 years ago in Livingstone, and humbly boasts of over two decades of experience in Zambia’s media & corporate communication landscape, having risen steadily to become undoubtedly one of the country’s industry's rare gem.

Thornpark Primary School was where Masuzyo’s academic journey started and later on, attended secondary school at Nkumbi International in Kapiri Mposhi, and Holycross and St Raphael Schools in Livingstone.

A devoted Presbyterian Christian and father of two, (Tionge and Wongani), Masuzyo already knew what he wanted to achieve and therefore embraced the love for academic consistency and excellence.

Livingstone Trades Institute where he started electronics training in radio and television, kickstarted his communication career and catapulted him to join the Zambia National Broadcasting Corporation (ZNBC), where he served for 21 years in various positions while enriching his academic portfolio.

He bagged a University of Zambia diploma in journalism under the adult education programme, two degrees, one in public relations, and another in business studies and marketing at Greenwich University in the United Kingdom, and a Master's degree in Business administration at the Eastern and Southern African Management Institute (ESAMI).

Among many other professional courses, Masuzyo, whose work enabled him to extensively travel across the world, also holds a generic MBA, a Master's in communication and public relations and an executive master's in business administration in leadership and wealth creation.

These vast academic credentials and background in strategic communication have made him adept both in traditional and digital communication channels, leveraging them effectively to enhance organizational branding and messaging.

Apart from the conventional media training he attained, Masuzyo was privileged among many, to be trained in South Africa in television directing of sports with a bias in football and golf, making him a certified trained director to cover golf which he passionately plays as a hobby.

While at ZNBC, Masuzyo, held different positions, among them, corporate affairs manager,controller TV, programmes director, sound and vision technician, camera person, and news anchor. He also headed the international desk and was the focal point person for the Southern African Broadcasting Association (SABA), and the Africa Union of Broadcasting(AUB).

For eight years as programme director in charge of all directors, Masuzyo then responded to an internal advert for a public relations officer position and was elevated to public relations manager, which position was later changed to corporate affairs manager, during the reign of Mr. Chibamba Kanyama as ZNBC Director General.

“it was an exciting time for me because it opened so many doors for me to travel the width and breadth of this country and beyond borders and enabled me to amass professional knowledge of how the industry holistically operates”, he recalls.

In 2017, Masuzyo was then moved to be the director for Media and creative services to be in charge of local content production & promote the Zambia film industry, whose progress he prides on, having spearheaded transformational processes of cinematography and local film production, following the government's adoption and approval of the national film policy which required interpretation, implementation and promotion in line with the digital migration from analogue to digital transmission as prescribed by the International Telecommunication Union (ITU) then.

Painfully but personally Masuzyo decided to leave ZNBC, which had become his home for over twenty years, after responding to an advert from the Road Development Agency (RDA), which was seeking the services of a director for communication and corporate affairs.

His application for a new job as a communication specialist in the country's road sector was successful and took a different direction for him, but thankfully under what he knew best, communication.

Masuzyo’s career highlight, according to him, came when he was charged with the responsibility of managing communication with his Botswana counterpart, for the famous Kazungula bridge under the RDA, which was a bilateral project between the two countries.

10th May 2021, the day of the commissioning of the bridge, remains Masuzyo’s career climax as he was director of programmes for the day when heads of State from the SADC region converged and gathered to witness the historical event

” For me, that was a huge moment and enormous achievement’, he recalls, thanks to the support accorded to him, which "baked" him to withstand any task regardless of its magnitude.

Masuzyo 's stint at RDA, however, came to an end after 3 and half years and later moved to the United States of America, where his family still lives, and did communication consultancy for only eight months before receiving a call from Vedanta Resources Limited, the legal owners of Konkola Copper Mines seeking his services of a communications expert to help with communication-related issues at the mining firm.

From April 2022 to date, Masuzyo describes his work as director of corporate communication at Vedanta as heartwarming and enjoyable having engaged in high-level dialogue with the government resulting in the handing of KCM back to Vedanta, now pending the finalization of transitional processes.

When it was not fashionable, Masuzyo represented Vedanta on various media forums to highlight Vedanta’s mining vision, and now expresses his joy that the standoff between the government and Vedanta during the year 2019 is now over after so many engagements and dialogue, thanks to his tenacity and communication efforts.

These and many other scores make Masuzyo an invaluable asset at Vedanta, whose mining commitments everyone on the Copperbelt and the country as a whole eagerly awaits when the scheme of arrangement is concluded.

He now looks forward to seeing Vedanta’s mining commitments start to bear socioeconomic fruits, as he applies his honed communication excellence, to navigate the complex mining landscape.

He says being part of Vedanta’s mining vision is an enormous privilege, not to be belittled, but leveraged on to push mining development in all areas and through the $20 million corporate social responsibility budget in programmes such as health, sports, education and empowerment to a whole different level.

"The Copperbelt and the country at large are undoubtedly getting back to their mining glory days because what Vedanta has committed to do is socially and economically life-changing", he assures.

Masuzyo is also optimistic that Zambia will attain the 3 million tonnes per annum copper production target by 2031 through Vedanta’s ambitious mining vision.

Even before Vedanta takes full control of the mine, notable social cooperate responsibility programmes are already bearing fruit such as the donation of sanitary towels in various schools across the country, the sponsorship of football and netball teams, which Masuzyo says is just a tip of the iceberg in terms of what has been outlined by the mining giants once in the mining driving seat.

Indeed, for Masuzyo, his personal and professional life has been laced with unforgettable experiences, enabling him to excel, while making an indelible footprint in the media and communication landscape.

His advice to upcoming and already established communicators is to be "consistent, versatile, and resilient" in the ex*****on of duty in pursuit of both organisational and personal development.

Asked if he misses anchoring news, Masuzyo says he would not mind being invited by ZNBC for a news anchoring shift, which he reminisces about and misses sometimes.

Source : Sunday Mail

VEDANTA ASSURES IT IS FINANCIALLY SOUND TO RUN KCMBy Tellah Hazinji and Michael KalubaVedanta Resources Limited has assu...
23/04/2024

VEDANTA ASSURES IT IS FINANCIALLY SOUND TO RUN KCM

By Tellah Hazinji and Michael Kaluba

Vedanta Resources Limited has assured that it is financially sound to run Konkola Copper Mines-KCM- and will continue to be the majority shareholder in the mine.

The global mining giant has also disclosed that it is exploring ways for the best corporate structure to raise financing without losing control of its stake in the mine.

This follows the continued doubts by some stakeholders of Vedanta’s capacity to run KCM owing to its financial difficulties and reports that the mining investment arm of Abu Dhabi's IRH offered to buy a majority stake in Vedanta Resources in KCM as it recently made an offer of more than $1 billion to buy a 51% stake in it.

Vedanta Resources Corporate Communications Director, Masuzyo Ndhlovu says Vedanta remains committed to its $1.3 billion investment in KCM to expand and modernize the mine and increase its production capacity.

Mr. Ndhlovu says the company is in the process of raising funds to operationalize KCM adding that it is an entirely normal process in business used to drive business growth, profitability and expansion.

Meanwhile, Economic Freedom Fighters-EFF Leader Kasonde Mwenda says the proposed sale of 51% shares in KCM to IRH will be illegal and against competition and consumer protection laws.

Mr. Mwenda says the proposed move is a defacto merger of the two giant mines which is prohibited by the consumer protection act number 24 of 2010, section (24)(2) which also prevents anti-competitive tendencies.

Phoenix FM Zambia

Vedanta Resources' Effective Dissemination of Information is highly Commendable.By Eng. Kapeya MwilaChililabombwe Reside...
23/04/2024

Vedanta Resources' Effective Dissemination of Information is highly Commendable.

By Eng. Kapeya Mwila
Chililabombwe Resident

I am one of the people in Chililabombwe who harbored a deeply negative view of Vedanta Resources. I couldn't quite articulate why I hated them, but I hated them anyway.

My skepticism deepened when some voices clamored for Vedanta's return to Konkola Copper Mines (KCM). I actively engaged in conversations on radio programs, vehemently discrediting Vedanta Resources whenever the opportunity arose.

Then Mr. Masuzyo Ndhlovu started shedding light on the true essence of Vedanta, their endeavors, and their aspirations for Zambian communities. It was a revelation that clarified many things for me.

Apparently, even prior to their ousting from KCM by the PF, Vedanta had done so much for our communities, to the extent that malaria cases were nearly non-existent, sports thrived, and scholarships were abundant for school leavers.

Moreover, despite the legal wrangling surrounding their return to KCM, Vedanta has steadfastly demonstrated an unwavering commitment to sustainable Corporate Social Responsibility (CSR) initiatives.

The following are some of their commendable deeds in the recent past:

✅ Generously donating over 46,000 sanitary towels to thousands of pupils nationwide, striving to eradicate period poverty.
✅ Vedanta sponsored sporting events on both local and international fronts, including adding to the Zambia women's netball tournaments for the Botswana competition.
✅ They championed a golf tournament in Chingola, enriching the sporting landscape.
✅ The donation of over 300 books to the Chililabombwe Community library fostered a love for learning.
✅ They breathed new life into sports infrastructure in Nampundwe, revitalizing the community spirit.

Without the diligent efforts of Mr. Masuzyo Ndhlovu in effectively disseminating information through Vedanta's PR channels, some of us would still be mired in ignorance, unfairly disparaging an investor who is trying to uplift our communities.

Now, we eagerly await the fruition of their investment commitments, particularly the $1 billion investment and $20 million CSR fund.

May Vedanta Resources continue to blaze a trail of transformation and goodwill. Other companies should also learn from Vedanta's effective Public Relations.

God bless.

Eng. Kapeya Mwila
Chililabombwe Resident

📍
05/04/2024

📍

CHILILABOMBWE OPPOSITION ASPIRING MP, Abraham Simpamba BLAMES HIS ILLOGICAL STATEMENTS ON DRUGS.Editors opinion: People ...
05/04/2024

CHILILABOMBWE OPPOSITION ASPIRING MP, Abraham Simpamba BLAMES HIS ILLOGICAL STATEMENTS ON DRUGS.

Editors opinion: People that use drugs should not aspire for public office, what will he teach the community?

Note
29/03/2024

Note

Abraham Simpamba, a Chililabombwe opposition leader thanks Hon. Paul CC Kabuswe for delivering Mopani.
27/03/2024

Abraham Simpamba, a Chililabombwe opposition leader thanks Hon. Paul CC Kabuswe for delivering Mopani.

Don't miss.
28/02/2024

Don't miss.

TRANSFORMING CHILILABOMBWE CONSTITUENCY: KABUSWE'S LEGACY OF PROGRESS In just two and half years as Member of Parliament...
28/02/2024

TRANSFORMING CHILILABOMBWE CONSTITUENCY: KABUSWE'S LEGACY OF PROGRESS

In just two and half years as Member of Parliament under the supervision and tutelage of His Excellency President Hakainde Hichilema, Hon. Kabuswe has spearheaded remarkable initiatives that have brought tangible benefits to the people of Chililabombwe. From boosting employment opportunities to enhancing education and infrastructure, his dedication to improving the lives of the people is evident.

1. Mining Sector Advancements: Hon. Kabuswe's efforts have led to the opening of the Ming'omba mine, creating numerous job opportunities for locals. Additionally, his interventions in sorting out issues with KCM have further bolstered employment prospects in the District.

2. Education Enhancement: In line with the government's free education policy, Hon. Kabuswe has taken proactive steps to supplement this initiative by distributing books to pupils every term. This ensures that students have access to essential learning resources.

3. Healthcare Services: In his time as MP, Hon. Kabuswe has seen to it that healthcare services are brought closer to the people so that no one has to walk more than is necessary to access healthcare services. This has seen the construction of health posts in Konkola, Ming'omba, with more to come in far places. Additionally, the first ever General Hospital in Chililabombwe has been completed under his supervision.

4. Infrastructure Development: Through the allocation of CDF, Kabuswe has instructed the Chililabombwe Municipal Council to acquire Earth Moving Equipment for the rehabilitation of township roads. This initiative will greatly improve transportation and save lots of car owners stress that their cars will get destroyed earlier than expected due to bad roads.

5. Community Empowerment: Hon. Kabuswe has empowered hundreds of cooperatives and clubs using CDF by giving them grants and loans. Every well meaning zambian knows that for the greater economy to thrive SMEs have to thrive first, hence the empowerment. This has included facilitating the purchase of vehicles for taxi drivers to support their livelihoods. Additionally, mobile money operators have received a Capital boost through a revolving fund under the MP's empowerment scheme.

6. Infrastructure Rehabilitation: Recognizing the importance of pedestrian safety, Hon. Kabuswe has rehabilitated the Kamenza walkway, enhancing convenience.

7. Education Expansion: Plans are underway for the construction of schools in Kamenza East and Chimfunshi (Boarding School). Additionally, classroom blocks have been constructed in various schools, ensuring that no pupil is left without a proper learning environment.

8. National Impact: Hon. Kabuswe's contributions extend beyond his constituency, with transformative initiatives in the mining sector that promise to elevate Zambia's economy to new heights. His leadership in attracting investments bodes well for the short term, medium term and future prosperity of the nation.

Hon. Kabuswe's tenure as MP, under the stewardship of His Excellence Mr. Hakainde Hichilema, President of Zambia, is characterized by a commitment to progress and development. The President's multifaceted approach to addressing the needs of his people reflects a vision for a brighter and more prosperous future for all. With his continued supervision, Hon. Kabuswe continues to score not only at District level, but at national level as well.

Bally na Kabuswe ba bola.

End///.

Yagwa!!!!
19/02/2024

Yagwa!!!!

VEDANTA COMMENCES FUNDING TO KCM 15 February 2024, Lusaka Zambia -Vedanta Resources has commenced funding to Konkola Cop...
15/02/2024

VEDANTA COMMENCES FUNDING TO KCM

15 February 2024, Lusaka Zambia -

Vedanta Resources has commenced funding to
Konkola Copper Mines (KCM) and has disbursed its first $25 million for employee salaries, contract labour as well as for other critical services needed to maintain the integrity of the asset.

Vedanta has deployed a technical team at KCM to work together with the current management to ascertain the state of the asset. This is aimed at ensuring that the business is prepared for operations once Vedanta takes over upon the conclusion of the scheme of arrangement that is before the court.

Once the Scheme of Arrangement has been agreed upon with the creditors, and court cases withdrawn, the KCM Provisional Liquidator will vacate her office after the Liquidation case is discontinued in the High Court and will hand over the company to Vedanta.

This will effectively mean the liquidation process coming to an end. The KCM Board of Directors will then be reinstated or reappointed by both Vedanta and ZCCM-Investment Holdings who are shareholders of mine. Following the appointment of the Board of Directors, Vedanta will then work to implement the 20% salary increment to all direct KCM employees; and offer a once-off K2,500 across-the-board award to all direct KCM employees and management will begin to report to the Board of Directors for policy decisions.

Vedanta is deeply committed to Zambia and the Zambian people and is fully aligned with the country’s vision of producing over 3 million metric tonnes of copper annually in the next 10 years. As per its discussions with the Zambian government, Vedanta is putting in place a strategy to invest $1.3 billion to expand and modernize the Konkola Copper Mines (KCM), and to increase the annual production of copper from the current 70,000 tonnes
to 300,000 tonnes in the medium term.

Vedanta’s business approach is focused on delivering sustainable, long-term returns to shareholders and creating value for the wider stakeholder fraternity. The company remains committed to the development of the Konkola Deeps Project and meeting its
agreed obligation of $250 million payment to all local small suppliers and contractors and to operationalize its proposed community development initiatives, for which it has
allocated $20 million per year.

For more information, please contact:
Masuzyo Ndhlovu Director of Corporate Communications
[email protected]

About Vedanta:

Vedanta Group ("Vedanta") is a diversified global natural resources and technology conglomerate.

The group produces Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power, Renewable Energy, Display glass and is foraying into Semiconductors business. Vedanta has operations in India, Zambia, Namibia, South Africa, Liberia, UAE, Taiwan, Korea, and Japan. With an empowered talent pool globally,
Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care.

Good governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment, and on enhancing the lives of local communities.

The group is focused on becoming the ESG leader in the natural resources sector and is committed to reducing carbon emissions to zero by 2050 or sooner. It has pledged $5 billion over the next 10 years to accelerate the transition to net zero operations.

The group's CSR philosophy is to eradicate poverty and malnutrition with a focus on development of women & children through the marquee project Nand Ghar.

SH0CKING NEWSA Lusaka woman is demanding answers from Levy Mwanawasa University Teaching Hospital after a shocking revel...
09/02/2024

SH0CKING NEWS

A Lusaka woman is demanding answers from Levy Mwanawasa University Teaching Hospital after a shocking revelation during labour.

According to Roshini Phiri, she went into labor at 21:00 hours on February 1st and underwent surgery at the hospital around 22 hrs, Following the procedure, doctors informed her that she was not carrying a fetus.

Mrs. Phiri claims she was pregnant with twins for the past nine months and underwent three scans at the hospital before being taken to the operating room.

She is now seeking clarity and accountability from hospital management, questioning how such a significant miscommunication could occur during such a critical moment.
MuviTv

Zambia set to negotiate bigger stakes in new mining projects By: ReutersZambia is keen to negotiate larger holdings in n...
08/02/2024

Zambia set to negotiate bigger stakes in new mining projects

By: Reuters

Zambia is keen to negotiate larger holdings in new mining projects in order to raise its revenue and boost spending by investors on social projects, mines minister Paul Kabuswe said.

The push by Lusaka through state-owned ZCCM-IH would apply to future agreements, but does not include existing mines and should not unnerve investors, Kabuswe told Reuters.

Zambia is Africa's second-largest copper producer after neighbouring Democratic Republic of Congo and ZCCM has interests of 10% to 20% in mines including those owned by Barrick Gold, Vedanta Resources and First Quantum Minerals.

ZCCM sold a 51% stake in Mopani Copper Mines to a unit of United Arab Emirates' International Holding Company, retaining the remainder, which previously belonged to Glencore.

"Stakes in new tenements will actually be moulded around such kind of partnerships," Kabuswe said in an interview on Tuesday on the sidelines of the Africa Mining Indaba.

"We want to make sure that there is win-win, that there is no slave-master relationship and we also want to make sure that there's social impact," he added.

While Zambia's government has set a copper production target of about three-million metric tons within a decade, output has been declining gradually due to challenges at some operations including Mopani and Konkola Copper Mines.

"We are going to be very strong in negotiations," Kabuswe said. "But not too strong to the extent of scaring away potential investors."

Lusaka also plans to start buying minerals such as copper from projects it has stakes in to trade on its own, he said.

While the details of establishing a trading house are still to be worked out, a special purpose vehicle had been approved by the Zambian cabinet, Kabuswe said.

The Zambian government is also closely following developments on First Quantum's Panama mine and hopes the challenges the Canadian miner is facing are resolved.

First Quantum has not informed the government of any plans to sell or bring in a strategic investor, he added.

"We are looking closely," Kabuswe said. "But looking closely not in a negative sense, but hoping that things around them can be resolved so that it doesn't affect ourselves."

Tackling the meali-meal situation in our District:06.02.2024Good evening friends, in government's efforts to deal with t...
07/02/2024

Tackling the meali-meal situation in our District:

06.02.2024

Good evening friends, in government's efforts to deal with the meali-meal challenges facing our District.

Different Government Officials visited our District to appreciate the situation as it is on the ground.

Among them included; Minister of Defense Hon. Ambrose L Lufuma, Chief Government Spokesperson/Minister of Information Hon. Cornelius Mweetwa, our Provincial Minister Hon Elisha Matambo, ZNS Commander Lt. General Maliti Solochi and Inspector General of Police Graphel Musamba.

It has since been established that, in order to deal with the situation once and for all. Any form of smuggling will be heavily restricted by intensifying security on all potential exit points.

Secondly, private millers will also be allowed to supply the commodity across the District in order to Complement the ZNS Eagles mealie-meal.

It is also worth noting that the Eagles Milling that goes to Kasumbalesa is labeled 'Export Only' and it is branded in black labels to signify 'export' as opposed to green branded Eagles Milling meant for Zambia, the black labeled meali-meal meant for export is infact too costly for the local market.

Moreover, no GMO meali-meal is being supplied for consumption anywhere in the country, including our District.

The New Dawn Government under President Hakainde Hichilema, has further made sure to create a favorable environment for agricultural activities to thrive, this is poised to result in greater maize yields that will help deal with the situation sustainably.

I therefore urge all of us to play our part in preventing smuggling. Firstly by not engaging in the act ourselves, and secondly by reporting any suspicious movement or trade of the commodity.

Precious Njekwa - Chililabombwe DC

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