Mkushi copper project granted mining licence …

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LUSAKA, July 18 (Reuters) - Zambian authorities have granted a licence for the new Mkushi copper project where production of copper concentrate is scheduled to start in mid-2010 and peak at 59,000 tonnes, co-owners of the mine said on Friday. 

African Eagle Resources (AFE.L: Quote, Profile, Research) (AEAJ.J: Quote, Profile, Research), which owns the mine jointly with CGA Mining (CGA.TO: Quote, Profile, Research), said the authorities in the mineral-rich southern African country approved the licence application on June 26. 

“We duly acknowledged this notification and now await the conditions and fees to be set during the next phase of the approval process,” African Eagle said in a statement. 

It said mineral resources had been updated to 18.5 million tonnes at a grade of 0.83 percent copper. A consulting group carrying out the feasibility study for the process plant had made substantial progress, the firm said. 

The statement said the new taxation system announced earlier this year in Zambia, which include a minimum 25 percent windfall profit tax, an increase to 3.0 percent from 0.6 percent in mineral royalty, would not negate the viability of the project. 

African Eagle Resources Plc and CGA Mining initially plan to spend around $60.93 million to develop the mine where production of copper concentrate in the first two years is projected at 36,500 tonnes before rising to 59,000 tonnes, in the last part of the six-year mine life. 

(Reporting By Shapi Shacinda; editing by Christopher Johnson) 

© Thomson Reuters 2008 All rights reserved.

 

Indeni Refinery in Zambia to Resume Output on July 31 …

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By Geoffrey Kapembwa

July 14 (Bloomberg) — Indeni Refinery, Zambia’s only refiner of oil, may resume production on July 31 after it receives a shipment of crude next week, said Mwila Nkonge, a spokesman for the company.

A delivery will arrive at the port of Dar es Salaam in neighboring Tanzania on July 21, Nkonge said in an interview today from Ndola, 420 kilometers (261 miles) north of the capital, Lusaka. Production at Indeni was halted on July 9 when the refinery ran out of crude.

“We’ve been assured that crude oil will arrive on Monday, after which we expect to resume production,” Nkonge said.

Zambia is Africa’s biggest copper producer. In October, mining companies in the southern African nation stockpiled fuel after a supplier withheld a crude shipment from Indeni, resulting in gasoline shortages.

Konkola Copper Mines Plc, the Zambian unit of Vedanta Resources Plc, has sufficient supplies of diesel to avert a disruption to its operations, Sam Equamo, a spokesman for Konkola, said in a telephone interview today from Chingola in northern Zambia. The company is Zambia’s biggest copper producer.

Copperbelt Energy Corp., the second-largest distributor of electricity to mines in Zambia, has stockpiled more than 3 million liters (792,516 gallons) of diesel and will secure additional fuel in the event of shortages, Chief Executive Officer Neil Croucher said in a telephone interview today from Kitwe.

To contact the reporter on this story: Geoffrey Kapembwa in Lusaka via Johannesburg at pmrichardson@bloomberg.net.

 

Porto After Zambia Youngster - Emmanuel Mayuka ….

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FC Porto are reportedly hot on the trail of Kabwe Warriors striker Emmanuel Mayuka.

The 17-year-old’s performances for the Zambia national squad have drawn admiring glances in Europe and led to interest from clubs in Portugal, Germany and England.

Mayuka trained with Sporting at the end of the last season but it appears he did not manage to convince the Lions, whose youth system is said to be one of the best in the business.

Porto are now ready to hand him a trial, having already begun talks with his club about a move to Estádio do Dragão.

“Mayuka had been dismissed because we were informed he would travel to Portugal to join FC.Porto,” said Zambian Football Federation spokesman Marcha Chilemena.

“However, his trip was postponed because there are still details to be discussed between the parties involved. As such, he is now here, but he may leave as soon as everything has been taken care of.”

Luís Mira

 

New mine to produce 59,000 T copper concentrate

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By Shapi Shacinda 

LUSAKA, July 17 (Reuters) - Owners of a new copper mine in Zambia plan to invest an initial $60.93 million to produce about 59,000 tonnes of copper concentrate at Mkushi project, a senior company official said on Thursday. 

The Mkushi copper project, a joint venture of African Eagle Resources Plc and CGA Mining Ltd., will initially produce around 36,500 tonnes in the first two years, rising to 59,000 tonnes, company data showed. 

Simon Plunkett, the Mkushi copper project manager, said a feasibility study would be concluded this year and construction of a concentrator and mine development will start in 2009. 

“Construction of a concentrator should be in 2009 and production in 2010 … (the $60.93 million) is the initial investment set-up, but it is an initial figure as there will be additional costs for power,” Plunkett said. 

Preliminary findings of an environmental assessment report submitted to the Environment Council of Zambia showed that the Mkushi mine would produce copper concentrate containing up to 30 percent copper. 

“Pit optimisation studies by CGA engineers indicate an optimum mine life of six years at an ore production rate of 1.6 million tonnes per annum at an average Insitu grade of 1.08 percent tonnes copper,” the report, seen by Reuters, said. 

Mining is planned to be through open pit using bulk blasting with hydraulic excavators and truck extraction, the company’s report said. 

Exploration activities have shown that mineralisation extends beyond an old open pit mine called Mushiwemba, and that it could be possible to produce “mineable resource.” 

Plunkett said the Mkushi mine project would initially employ 270 workers, with additional employment to be provided by other mine contractors that would be engaged to provide goods and service to the mine. 

Industry analysts say some copper mines abandoned decades ago, due to inappropriate and expensive mining methods in mineral-rich Zambia, were being revived following a surge in copper prices and rising demand of the metal. 

Copper mining is Zambia’s economic lifeblood and the vast mines are a major employer in this southern African country of 12 million people. (Reporting By Shapi Shacinda, Lusaka newsroom + 260-977 843 609/260-955 779 523) (Editing by Phumza Macanda) 

© Thomson Reuters 2008 All rights reserved.

 

Benny Tetamashimba faces axe over presidential successor call …

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LUSAKA (AFP) — A top official from Zambia’s ruling party was facing the threat of expulsion Thursday after he called for the succession of President Levy Mwanawasa who suffered a stroke last month, the party announced.

Benny Tetamashimba, the ruling Movement for Multi-Party Democracy’s chief spokesman and deputy minister for works and supply, has been slapped with charges of indiscipline following his remarks that Mwanawasa should be replaced in view of his current hospitalisation in France.

Mwanawasa suffered a stroke late last month and remains in the intensive care unit at the Percy military hospital, near Paris.

“We are not condemning him about the need to elect a new president but the timing is wrong. It looks like he is in a hurry to replace President Mwanawasa when he is sick,” said Jeff Kaande, the party’s deputy national secretary.

Kaande said Tetamashimba has been charged with a number of offences, including bringing the party into disrepute, and would appear in front of a disciplinary committee before his fate is known.

“The president has been sick for only two weeks. Does this period call for a successor?” Kaande said in a statement.

Tetamashimba upset many of his colleagues by saying on Tuesday that it was time for the party to begin looking for a successor to the 59-year-old Mwanawasa whose recent stroke was his second in little over two years.

Asked about the expulsion threat, Tetamashimba said he could only be removed from his position as chairman for information and publicity by the MMD’s national convention which is not due to meet until next year.

“I am not an ordinary member of the party. I am very senior and they should know that I was elected by the party convention,” he told AFP.

There have been growing calls among Zambians for a thorough report on Mwanawasa’s health amid frustration at the lack of detailed information on his condition. His condition is officially described as stable.

Copyright © 2008 AFP. All rights reserved.

 

Zambia’s constitution reform body recommends election day …

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LUSAKA, July 17 (Xinhua) — Zambia’s constitution reform body has recommended that the last Wednesday of September every five years should be the election day, Times of Zambia reported on Thursday.

    The National Constitutional Conference democratic governance committee passed the election day resolution unanimously in Lusaka, according to the report.

    The current constitution allows the president to set and announce the date of elections in the election year. 　

 

 

Editor: An Lu

 

Zambia has FX reserves to protect against any outflows, says Central Bank Governor Dr. Caleb Fundanga …

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By Shapi Shacinda

LUSAKA (Reuters) - Zambia has enough currency reserves to protect the economy in case the illness of President Levy Mwanawasa prompts some reduction in foreign investment, central bank Governor Caleb Fundanga said on Tuesday.

Fundanga said the only slight worry of the Bank of Zambia (BoZ) was rising oil and food prices, which threatened its single digit inflation target. However, he remained optimistic of achieving 7.0 percent annual inflation in December this year.

Fundanga said it was evident the illness of Mwanawasa, who is in a French hospital after suffering a second stroke, had caused anxiety among some investors but that there was “no need for panic”.

“The investors in the mines will continue exporting copper. It is possible that … some investors may decide to pull out, but we have enough reserves, $1.4 billion held by the Bank of Zambia and another $1 billion by commercial banks,” Fundanga told a news conference, adding Zambia had 5.6 months of import cover.

Mwanawasa impressed the International Monetary Fund and other Western donors by cracking down on government spending and launching an anti-corruption drive.

Fundanga said Zambia had investment pledges totalling $1.8 billion so far this year compared with just $1 billion in the first six months of 2007. The government has previously said a number of these investments have been fulfilled.

“Naturally, as a result of the illness of the captain, as some refer to the president, there are some people who might be feeling uncomfortable. Given this situation, are we vulnerable? Will all forex (foreign exchange) dry up? The answer is ‘no’,” Fundanga added.

He said mining and non-traditional sectors had continued to perform satisfactorily with copper export earnings for the three months to June just 0.1 percent lower than the previous quarter’s earnings, at $967.6 million.

Fundanga said non-traditional exports at $187.6 million at end-June were 12.3 percent above the $167.1 million recorded in the previous quarter ending in March.

“Favourable export earnings have led to the strengthening of the external sector reflected in the appreciation of the kwacha against major currencies and a 10 percent increase in international reserves to $1,338.4 billion in June 2008 from $1,216.3 billion in March 2008,” he said.

There were inflationary pressures from a 15 percent wage increase for civil servants from January and from higher global oil prices, which would put pressure on transport and commodity prices.

“However, these pressures may be mitigated by pass-through effects of the appreciation of the exchange rate of the (Zambian) kwacha against major currencies on account of external sector performance,” Fundanga said.

Fundanga said the kwacha appreciated 11.3 percent against the dollar in the three months to June to trade at an average of 3,259/dollar.

“We cannot give up on 7.0 percent inflation at the end of the year because we have enough food to feed ourselves and we will not necessarily be affected by global food prices,” he added.

(Lusaka newsroom + 260-977843609/260-955779523)

© Reuters 2008. All Rights Reserved.

 

VP confirms medical reports on President Levy P Mwanawasa, SC.

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Zambian Vice- President Rupiah Banda has assured the nation that the current medical updates on the condition of ailing President Levy Mwanawasa being issued by government are correct and a reflection of the president’s condition.

Banda said here Tuesday that Mwanawasa was making slow progress to recovery at Percy Military Hospital in Paris, France, where he is hospitalised, PANA reports from here..

Veteran politician Rodger Chongwe was reported at the weekend by the local media as saying that he was skeptical over government’s assurances that Mwanawasa’s condition had improved.

Chongwe said he suspected that the government was not telling the nation the truth over Mwanawasa’s condition, citing the last time Mwanawasa suffered a stroke in 2006 and the then Vice-President Lupando Mwape told the nation the president was well and jogging in London.”

Banda, however, assured that the current medical updates were correct and should not be doubted.

President Mwanawasa was evacuated to the Paris hospital on 1 July admitted after he suffered a stroke while attending the African Union summit in Egypt.
 
Lusaka - 16/07/2008

Pana

 

Comment From Zambian Chronicle Below:

 

 

Please keep the first family in your thoughts and prayers; they need them more than any insinuations and innuendos right now. Honoring and praying for those who are ill is the most honorable Zambian thing to do … 

 

Get well soon, Mr. President; can’t wait to fly you back home so you can continue kicking some butt, you got a lot of work cut out for you.

 

Live Long & Prosper; Long Live Levism … thanks a trillion. 

 

Brainwave R Mumba, Sr.  

CEO  & President – Zambian Chronicle

 

Copyrights © 2008 Zambian Chronicle. All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom. 

 

Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc.

 

Copyrights © 2008 Microplus Holdings Int., Inc

 

Sata wants to probe President Levy P Mwanawasa’s fitness to rule …

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LUSAKA (AFP) — Zambia’s main opposition Tuesday called for a medical investigation to determine whether President Levy Mwanawasa is capable of ruling the country after suffering a stroke.

Michael Sata, leader of the Patriotic Front, said there was an urgent need to establish the condition of Mwanawasa, who is in intensive care in France since suffering a stroke over two weeks ago.

“The doctors should examine him and inform the nation the correct position over his sickness,” Sata said in a radio address.

He said Vice-President Rupiah Banda should immediately convene a special meeting of cabinet and appoint a medical team to travel to France to examine Mwanawasa, following reports that he is in a critical condition.

“The nation wants to know the truth. Nobody believes the statements being given by government,” Sata said.

But Banda told state radio that Zambians should not panic because the updates that he has been giving on the condition of the president were correct.

“He is sick but in a stable condition,” Banda said.

Prominent Zambian medical expert, Francis Manda, also questioned the updates given by government saying they lacked detail as Mwanawasa could be in a “stable condition but critical”.

“We want to know what sort of stroke he suffered. It is not good enough to say he had a stroke,” Manda said.

Mwanawasa suffered a stroke while attending an African Union meeting in Egypt two weeks ago and was evacuated to France where he was admitted to the Percy Military Hospital outside Paris.

Copyright © 2008 AFP. All rights reserved.

 

Comment From Zambian Chronicle Below:

Please keep the first family in your thoughts and prayers; they need them more than any insinuations and innuendos right now. Honoring and praying for those who are ill is the most honorable Zambian thing to do … 

 

Get well soon, Mr. President; can’t wait to fly you back home so you can continue kicking some butt, you got a lot of work cut out for you.

 

Live Long & Prosper; Long Live Levism … thanks a trillion. 

 

Brainwave R Mumba, Sr.  

CEO  & President – Zambian Chronicle

 

Copyrights © 2008 Zambian Chronicle. All rights reserved. Zambian Chronicle content may not be stored except for personal, non-commercial use. Republication and redissemination of Zambian Chronicle content is expressly prohibited without the prior written consent of Zambian Chronicle. Zambian Chronicle shall not be liable for any errors, omissions, interruptions or delays in connection with the Zambian Chronicle content or from any damages arising therefrom. 

 

Zambian Chronicle is a wholly owned subsidiary of Microplus Holdings International, Inc.

 

Copyrights © 2008 Microplus Holdings Int., Inc

 

 

Zambia’s Konkola resumes work at Nkana copper unit …

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LUSAKA (Reuters) - Zambia’s Konkola Copper Mines (KCM) said on Monday it had resumed full production in its Nkana business unit after shutting down some operations as a precaution following a labour protest.

In a statement a KCM spokesman said the unit’s operations, located about 350 km (219 miles) north of Lusaka, have now resumed and production is normal. The spokesman added that 12 workers had been fired as a result of the protest on Monday.

KCM, majority-owned by London-listed Vedanta Resources Plc, did not say what impact the one-day shutdown had on production.

It forecast on Monday that it would raise cathode copper output to 250,000 tonnes in the 2008/2009 fiscal year from 150,000 tonnes the previous year.

The labour protest was prompted by reports that union representatives had agreed to a deal that fell short of workers’ wage demands.

Union officials are continuing to brief members on the details of a new collective bargaining agreement that was negotiated last week.

© Reuters 2008. All Rights Reserved.