KONKOLA Copper Mines Plc (KCM) is still receiving electricity from the Copperbelt Energy Corporation (CEC) without paying for the commodity, contrary to the Electricity Act, says CEC chief financial officer Mutale Mukuka. And Mukuka says assertions that the utility’s power tariffs are three times higher above what the Energy Regulation Board (ERB) authorises are not...

THE Zambia Chamber of Mines has elected its new president, Dr Godwin Beene, the First Quantum Minerals (FQM) government relations specialist, taking over from Goodwell Mateyo. And Dr Beene, a former Ministry of Mines permanent secretary, says Zambia’s mining industry will remain uncompetitive with the current mining fiscal regime, adding that there is need for...

THE Bank of Nevis International Limited, a commercial bank operating on the West Indian island of St. Kitts and Nevis in the Caribbean, has bought a 24 per cent shareholding in Investrust Bank Plc, becoming the bank’s latest shareholder. According to a market announcement released via Stockbrokers Zambia Limited, the bank’s broker, the Bank of...

KONKOLA Copper Mines Plc has announced that the first instalment of staff redundancy packages due to employees who had crossed over to the newly-created SmeltorCo Limited and Konkola Mineral Resources Limited were paid on March 25. In a management brief, KCM chief executive officer Christopher Sheppard stated that the first instalment of the redundancy packages...

ZAMBIA and the International Monetary Fund (IMF) will resume virtual discussions on the outstanding issues relating to the economic bailout package on Tuesday, March 30 and continue into the first two weeks of next month. In a statement, Friday, Secretary to the Treasury Fredson Yamba announced that talks between the Zambian government and the IMF...

MOPANI Copper Mines Plc has no plans to make any employee redundant once ZCCM-IH takes full ownership from March 31, 2021, says acting chief executive officer Charles Sakanya. And Sakanya has insisted that ZCCM-IH’s imminent 100 per cent ownership of Mopani is the “best deal” for Zambians because citizens will benefit more compared to the...

ZAMBIAN Breweries Plc has posted reduced profit after tax of only K6 million in its financial year period ending December 31, 2020, mainly triggered by higher costs of production and the devastating impact of the Coronavirus on the market. But the company says it expects this year’s financial performance to drastically improve on the back...

ZANACO Plc has posted increased operating income of over K2.3 billion during its financial year period ending December 31, 2020, mainly boosted by higher returns from lending, which grew by 53 per cent. In a statement, Zanaco announced that the group’s operating income during its financial year period ending December 31, leaped to K2.37 billion...

GOVERNMENT’s takeover of Mopani Copper Mines and Konkola Copper Mines will not increase the mining companies’ copper productivity because the move is politically-motivated and will deter the much-needed fresh capital to expand operations, says UPND chairman for economics Dr Situmbeko Musokotwane. And Dr Musokotwane, who is also Liuwa UPND member of parliament, says a UPND...

KONKOLA Copper Mines Plc (KCM) now owes Copperbelt Energy Corporation (CEC) an outstanding US $155 million electricity bill, up from around US $150 million by the end of September last year. According to a market announcement issued via CEC company secretary Julia Chaila, KCM’s unpaid electricity had leaped to around US $155 million as at...