Chris Mfula

UPDATE 3-Zambia achieves record high copper production in 2020, minister says

Feb 23 2021

LUSAKA, Feb 23 Zambia produced 882,061 tonnes of copper in 2020, up 10.8% from 796,430 tonnes produced in 2019, Mines Minister Richard Musukwa said on Tuesday, calling it a "historical high" for Africa's second-largest copper producer.

Zambia scales back projects to reduce debt exposure, central bank says

Feb 17 2021

LUSAKA Zambia has scaled back, postponed or cancelled projects to reduce the southern African copper producer's debt exposure as it holds talks to secure a programme from the International Monetary Fund, the central bank governor said on Wednesday.

'The bucket is leaking': Zambia opposition leader denounces debt-funded Mopani deal

Jan 21 2021

LUSAKA, Jan 21 Zambia's main opposition party leader Hakainde Hichilema criticised the government's deal with Glencore on Thursday, comparing the economy to a leaky bucket broken by debt.

Zambia expects to find new Mopani investor by year-end, IMF examines Glencore transaction

Jan 21 2021

LUSAKA Zambia's mining investment arm ZCCM-IH said it expects to find a new investor for Mopani Copper Mines by the end of the year, as the International Monetary Fund looks into Zambia's deal with Glencore, Mopani's majority stakeholder.

UPDATE 4-Cash-strapped Zambia takes on $1.5 bln debt to buy Glencore copper mine

Jan 19 2021

* Glencore to retain Mopani output buying rights until debt repaid

Glencore in final-stage talks over Mopani stake sale to Zambia

Jan 08 2021

LUSAKA Glencore said on Friday it was in final-stage negotiations over a potential sale of its majority stake in Mopani Copper Mines to Zambia's mining investment arm ZCCM-IH.

UPDATE 4-Zambian state needs bigger role in mines to help the economy, president says

Dec 17 2020

* Zambia aiming for 3% GDP growth by 2022 (Adds company reaction)

UPDATE 2-Zambia to buy gold from miners to bolster foreign reserves

Dec 11 2020

LUSAKA, Dec 11 The Bank of Zambia will begin buying gold from Canadian miner First Quantum Minerals and the state mining firm as it resumes holding the precious metal as part of its foreign reserves, the central bank governor said on Friday.

Zambia requests financing arrangement with the IMF

Dec 08 2020

LUSAKA Zambian authorities formally requested a financing arrangement from the International Monetary Fund (IMF), the Fund said on Tuesday, to help the southern African copper producer navigate a debt crisis.

Zambia to appeal court ruling backing Vedanta in KCM mine dispute

Nov 26 2020

LUSAKA Zambia's state mining arm ZCCM-IH plans to appeal a court ruling in favour of Vedanta, which has sought arbitration in a dispute over its jointly owned copper mine that is facing liquidation, the mining minister said.

World News