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Mining

The Mine Workers Union of Zambia – MUZ – has urged government to expedite the process of reopening of Chambishi Metals as the continued closure has continued to negatively affect the laid off workers as well as the economy of the Copperbelt.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, MUZ President Joseph Chewe Said the continued closure of Chambishi Metals has not only affected the union membership, but it is also affecting the community as it has deprived the much needed job opportunities.

He stated that the closure has also deprived business opportunities for the people that are dependent on the mining firm such as suppliers and the linked businesses. Chewe noted that the closure has also affected the country’s revenue collection through Zambia Revenue Authority – ZRA and the respective Town Councils, the ministry of mines to ensure that the asset (Chambishi metals) is brought back to operation

Management at Chambishi metals place the mine on care and maintenance in January 2020 following failure to access raw materials such as cobalt from neighboring Democratic Republic of Congo – DRC which resulted in the loss of about 230 workers. Remember that these workers support about 5 to 6 family members, therefore the people directly affected are about 1,400.

The MUZ President said government should therefore find alternative means that will ensure that the mine reopen unlike the continued placing of operations on care and maintenance leading to no production and continued joblessness.

With the increased cost of living occasioned by the steep fuel price increase, towns like Chambishi and Kalulushi which relied on jobs and revenue generated from Chambishi metals are being hit hard. The need for urgent solutions to reopening the mining related firm is urgent.

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The Mine Workers Union of Zambia -

Companies

Prudential Zambia, revealed the company’s new brand campaign which is purposed to position Prudential as the face of life and health insurance in Zambia, through a brand and marketing campaign called, ‘WE DO.’

At an event that Prudential Zambia  held yesterday in Lusaka, Chief Executive Officer, Kachiza Kwenda said that at the core of what WE DO is people “We are committed to making a positive impact on our customers, our employees, and our communities by delivering the best financial protection and health solutions to people so they can get the most out of life”, he said.

He said that the campaign espouses the organization’s commitment to a positive, innovative, and action-oriented attitude. Through this campaign, Prudential aims to reinforce its embodiment of Optimism not being afraid for the future, looking at the challenges ahead and saying, “here I come!” and Innovation it’s not just about creating new things for the sake of creating, it is about meaningful creations enabling people to live better and get the most out of life, he added.

At the same event, attended by the Zambian business times-ZBT, Kwenda alluded that the commitment of helping people get the most out of life has provided the company with direction since it was launched it in 2020.

“Coupled with this forever promise is another dimension that needs to be reflected in our brand story that’s our ability to deliver. Deliver better service and innovation to support the long-term goals of our customers.” he said.

He further added that the company recognizes its mandate to make healthcare affordable and accessible, to protect people’s wealth, to grow their assets, and to empower the emetics customers to save for their goals.

And CEO for Prudential Pensions Management Zambia, Kanyifwa Nyirongo said that the company actively aspire to be the number 1 investment and financial services brand in Zambia by providing the best experience at every stage of the customer journey. With the aim to be a partner of choice to its distributors, government & community partners by starting, sustaining and growing relationships with distributors and driving community projects that impact lives.

While Emmanuel Mokobi, Regional CEO Prudential East and Central Africa who was also in attendance said that its African growth story is an ever evolving and dynamic one, it is made possible by the immense opportunities this region provides a rising middle class, a youthful working age population that is fast becoming urbanized. WE DO financial solutions that will enable them to protect their health and wealth.

 

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Prudential Zambia, revealed the company’s new brand

Tech

The Zambia Information Communication and Technology authority –ZICTA has denied assertions that the regulator has abolished penalizing mobile service operators following public complaints that mobile network connectivity and quality of service has continued to deteriorate across the country.

Speaking in an exclusive interview with the Zambian Business Times – ZBT – ZICTA corporate communications Manager Hanford Chaaba said penalizing mobile operators can only be done after a report is generated that shows that the poor quality of service do not meet the requirements.

ZICTA corporate communications Manager disclosed that the authority is actively engaging the mobile network operators at each and every stage to see how best the service can be improved. He said ZICTA is working together with mobile operators in doing the drive test and drive around and see the findings together.

He said one of the parameters ZICTA uses to measure quality of service, is that a normal call should not take more than 10 seconds to connect to the other user and the moment it exceeds it becomes poor quality of service.

ZICTA corporate communications Manager said it becomes a source of concern to the authority when consumers are not enjoying the services that they are supposed to. Chaaba noted the network has not been good since mid-last year adding that the mobile providers are attributing it to the network upgrade.

He said ZICTA as a regulator has managed to buy equipment which will help in mitigating and monitoring the quality of services provided. Chaaba said ZICTA is however hopeful that that with the new equipment, the issue of poor quality will help in addressing issues to do with quality of service.He said the equipment will pin point actual areas where there is poor quality of service to district level.

ZICTA has not issued any penalties to erring mobile networks despite the public outcry and complaints that the networks are now congested and making inter network calls is even becoming more and more difficult. It’s like the networks are blocking each other but this is affecting business and social communication adversely.

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The Zambia Information Communication and Technology authority

Mining

Green Economy Minister Collins Nzovu has threatened to shut down Kitwe’s black mountain on environmental concerns being raised which are not being resolved.

Nzovu said his ministry is monitoring all operations at each mining company, including the black mountain in Kitwe on the Copperbelt to ensure that there is sustainable mining and mining operations.

This follows a number of concerns and complaints received by the ministry of the Green economy from concerned parties concerning the manner in which Copper ore from the part of the black mountain is being dumped in residential areas of Kitwe.

Speaking in an exclusive interview with the Zambian Business Times – ZBT – Green Economy and Environment minister Collins Nzovu said Government is doing everything possible to sensitize small scale miners to ensure that they follow the laid down laws and environmental regulations.

Nzovu disclosed that the ministry is currently monitoring and evaluating mining operations so as to ensure that there is compliance, adding that both small and large scale mines should ensure that the conditions set out in the Environmental Impact Assessment are met.

Kitwe residents and environmentalists have complained on the way the black maintain operations are affecting their communities and residential areas. The situation has worsened and authorities seem to have failed to come up with tangible solutions.

Black mountain operations remain politically charged as access to the dump seem to have no clear regulations and procedures that have gained consensus with the locals. Mines ministry and green economy need to urgently move in and arrive at a way forward that is acceptable to the local community.

 

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Green Economy Minister Collins Nzovu has threatened

Mining

A source at the ministry of mines has told the Zambian Business Times – ZBT that First Quantum Minerals (FQM) – Trident Kalumbila Mine who have recently announced the opening of a $800million per annum Nickel mine got the licence from the ministry of mines as far back as 2011.

The source further revealed that the licence was issued [during the Movement for Multiparty Democracy – MMD administration] on 20 April 2011 and valid for 25 years until 2036. So, the mine still has another 14 years to operate.

When asked what Minerals the licence covered seeing that FQM has been mining and declaring copper at its Kalumbila – Trident Mine, the source indicated that the large scale mining licence covered not only copper but Nickel, Cobalt, Gold, Silver and Iron.

The FQM Trident large scale mining licence further has a coverage of 94,725 hectares. The mine is currently Zambia’s largest copper miner and it has also emerged to be Zambia’s significant gold miner with significant gold production numbers from its Kasanshi mine located in Solwezi.

Mining license fees as governments non-tax revenue line remain low such that they don’t even make national budget sub heading. Some mining  stakeholders have been calling for the establishment of a mining regulatory agency that can enhance the regulation of the over $8 billion annual copper revenue industry that the country continued to struggle to leverage.

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A source at the ministry of mines

Markets

The Bank of Zambia (BOZ) Governor Dr. Denny Kalyalya has hinted that the central bank is willing to provide government [and the public] with all the information it has on the $33 million FTJ University payment details if the government [Ministry of Finance] who is the client in this case gives a go ahead.

Kalyalya stated that the central bank cannot disclose any information concerning the US$33 million payment that was made towards the construction of FTJ University in Luapula province because of the principal-agent relationship with government [in this case the ministry of finance].

This follows revelations by Ex-finance deputy minister and Matero Member of Parliament (MP) Miles Sampa that BOZ has exact details and a paper trail of who exactly got paid and to which accounts the funds were remitted.

Sampa revealed that “before forex payments are sent out on behalf of their client the Ministry of Finance or Zambia, the central bank would need to append their signatures”

The ex-Deputy Minister of Finance said the BOZ Governor Dr. Denny Kalyalya or his office should have also gone through this payment with its various support documents and approvals before the payment was initiated or done so they have the details of who was paid. He further confirmed that the current BOZ Governor Dr. Denny Kalyalya was occupying the same position when the payment was initiated. 

And when asked by the Zambian Business Times-ZBT, what role the central bank or the Governor’s office played in this matter, Dr. Kalyalya said “yes we do that for the government but it’s the principle [Ministry of Finance] who can tell you where they took the money. This is an authorized person who has procedures on how to use the money they withdraw on behalf of government”.

Speaking when asked by ZBT during the Monetary Policy Committee announcement and press briefing, Dr. Kalyalya said the central bank has a principal-agent relationship with government therefore it cannot reveal matters that affect its customers which in this case is the government.

He explained that the central bank only ensures that the authorized person withdraws money on behalf of government and advises the client on whether or not they have sufficient funds to meet their withdraw request.

The Governor added that it is not up to the bank to ask their client what they intend to use their money for or follow up on what the money was used for as their interest ends at ensuring the right person has access to the money.

The Governor did not however clear the air as to whether the funds were withdrawn as cash or a funds transfer was made. More details to follow as ZBT follows up this matter with the Ministry of Finance to give BOZ the necessary go ahead to reveal on what actually transpired.

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The Bank of Zambia (BOZ) Governor Dr.

Markets

The Bank of Zambia (BOZ) has maintained the Monetary Policy Rate (MPR) at 9.0 percent.

Speaking during the Monetary Policy Committee Announcement and Press Briefing attended by the Zambian Business Times-ZBT, Bank of Zambia Governor Dr. Denny Kalyalya said the decision to maintain the MPR at 9.0 percent is due to the continued deceleration in inflation and its projected further decline towards the target range of 6-8 percent by end of 2023.

Dr. Kalyalya said other factors the Monetary Policy Committee (MPC) considered include the positive efforts in implementing fiscal consolidation measures, relatively weaker growth prospects over the medium term, as well as lingering vulnerabilities and risks to the financial sector.

He explained that over the next eight quarters, inflation is projected to continue trending downwards towards single digits and it is projected to drop to 8.9 percent in 2023 noting that underlying these projections are mostly the effects of enhanced fiscal consolidation anchored on the resolution of the external debt overhang supported by an International Monetary Fund Extended Credit Facility.

Dr.Kalyalya added that these effects combined are expected to boost market confidence, anchor inflation expectations, positively impact macroeconomic stability and ultimately contribute to growth that has remained subdued for some time.

The Governor however noted that upside risks to the inflation outlook include increases in global energy and food prices, exacerbated by the on-going Russia-Ukraine conflict, outbreaks of more infectious strains of COVID-19,tighter global financial conditions and the projected grain deficit in some of Zambia’s neighboring countries.

Dr. Kalyalya mentioned that decisions on the policy rate will continue to be guided by inflation forecasts, outcomes and identified risks including those associated with financial stability.

 

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The Bank of Zambia (BOZ) has maintained

Mining

Vedanta Resources Limited says it is confident that it will be given another chance to run Konkola Copper Mines (KCM).

Company Corporate Communications Director Masuzyo Ndhlovu said the way the former Patriotic Front (PF) government handled the KCM matter was wrong because it did not fulfill the dispute resolution process.

Speaking in an interview with the Zambian Business Times-ZBT, Ndhlovu explained that there is a right channel of handling differences and wrongs but in this case, the previous government just went ahead and liquidated the mine without following the right procedure, which Vedanta is tirelessly contesting in court.

Asked whether President Hakainde Hichilema’s statements of not giving back the mine to Vedanta were discouraging the company’s efforts, Ndhlovu said the President is on one side but the matter would be determined by the courts.

“He can say that but then there is also the legal process to it, if one is aggrieved and not satisfied with certain things you take the matters to the court so that it is addressed in a partial and objective manner. So it’s something which the courts can determine in an objective way and once the courts make their decision, we go by that decision”, he said.

“We want the mine back; We are still in that process of trying to get the mine back, we are positive about it because in the first place the way it was done was wrong at the point of litigation and if there is any wrong of any sort, we will iron out those wrongs at that point”, he said.

Ndhlovu noted that Vedanta is committed to working with the Mine Workers Union of Zambia, National Union of Miners and Allied Workers and the United Mine Workers Union of Zambia for the betterment of the sector.

He added the unions called for the recapitalization of the operations which include exploration, equipment replacement and operationalisation of the Konkola Deep Mining Project and also want improved condition of services for employees and a well-defined Corporate Social Responsibility.

The Corporate Communications Director said it is the intention of Vedanta to ensure that Zambian small businesses are prioritized in its supply chain and that KCM will put in place a procurement programme aimed at providing support and medium-term contracts.

Ndhlovu mentioned that measurable, impactful Corporate Social Responsibility programmes will be enhanced as is the case in South Africa, Namibia, or India and crucial support to the hospitals, clinics, schools through scholarships, livestock, and promotion of youth development programmes, training and sports development, including football sponsorship will be provided.

 

 

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Vedanta Resources Limited says it is confident

Mining

First Quantum Minerals (FQM) has confirmed that the mining firm has a valid license to mine and produce Nickel concentrate at its newly announced enterprise Nickel mine at Kalumbila District, which is next to it’s Copper rich Kalumbila Trident mines.

This follows questions raised on how the giant mining firm acquired the license at a time when the Zambian government had placed a moratorium on issuance of new mining licenses after the change of government. The Zambian government imposed a moratorium stating that they wanted to clean up and improve the system.

Dr. Godwin Beene who is FQM Government Relations specialist stated that the mining firm [FQM] acquired the license a long time ago but could not disclose when exactly this happened. FQM had announced at a recently held mining Indaba in Cape Town that the giant mining company will be producing about 30,000 tons of Nickel annually, expected to rake in about $1 billion in revenues annually.

And another note from FQM to the Zambian Business Times – ZBT re-affirmed that that giant copper miner has an existing Nickel license that was issued before a moratorium was instituted by new mines Minister but did not state when exactly the license was issued.

Speaking in an interview with ZBT, Dr. Beene said FQM operates under the laws of Zambia which state that for one to mine, they need to have a license, therefore it’s impossible for FQM or any other mining company to start a project without a license as that would mean going against the stipulated laws of Zambia.

Dr. Beene further told ZBT that FQM Nickel mining license is valid for between 20 and 25 years stating that two licenses are required for the mining and processing of Nickel and FQM has both.

“I can confirm that First Quantum has a valid Nickel Mining license” stated Beene. He advised that those that want to see it,  they can visit the cadaster office as they have a copy”, he said.

Mining specialists and analysts in Zambia questioned the FQM announcement that the new enterprise Nickel mine would be opened within a period of twelve (12) months when the Zambian government imposed a moratorium on issuance of new mining licenses. The moratorium is still currently in place but expected to be lifted soon.

The new Nickel mine to be operated by FQM will add to the existing Munali Nickel mine of Mazabuka and expected to make Zambia – Africa’s largest producer. Nickel as a mineral is gaining more international recognition and importance following the drive to green anergy and the electric car promise.

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First Quantum Minerals (FQM) has confirmed that

Mining

The Ministry of Mines has refused to confirm or deny if First Quantum Minerals – FQM has been awarded a nickel mining license following the company announcement that it will begin nickel production in kalumbila district of the Copperbelt in the next twelve (12) months.

FQM announced at the recently Cape Town held Mining Indaba that it will be opening a nickel mine in Kalumbila with an additional investment of $100 million to the $250 million enterprise Nickel mine which will bring the total to $350 million. The mine is expected to hit an annual production of 30,000 tons per annum and revenues of over $800m at current nickel prices.

Speaking in an exclusive interview with the Zambian Business times – ZBT, Minister of Mines Paul Kabuswe said he could not give out what he termed as office details. The Minister however said when FQM announced to the government that it approved the investment, it meant that the programme is on and it was also approved by President Hakainde Hichilema.

Kabuswe further stated that the ministry of mines can amend mining licenses once the holder discovers new minerals that they feel should be included in the license. When asked if FQM will have to amend or buy a new license in this matter, the Minister said he would not go into those details adding that the announcement of nickel mining at Kalumbila has been made and it was not a a lie.

The Ministry of Mines has suspended the issuing of mining licenses and announced that measures are being put in place to improve the system. The projected or targeted timelines for resuming the issuance of mining licenses is yet to be made public.

Efforts to get an estimation of how much a nickel mining licence for an anticipated 30,000 tons annual production would fetch to acquire from the ministry of mines proved futile by time of publishing.

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The Ministry of Mines has refused to