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Copper News

Resources group closes in on Chile deal

1st May 2002 Global miner Anglo American is believed to be close to sealing a deal to buy Chilean copper mining assets from Exxon Mobil for at least $1,3-billion, a Chilean newspaper reported. 

Final round of talks on troubled Zambian mines

30th April 2002 Mining giant Anglo American started a final round of crucial talks in London with its partners in its troubled Zambian copper business. 

Zambia's Chambisi has the cobalt blues

By: Martin Zhuwakinyu     29th April 2002 While much attention has been paid to Anglo American's decision to withdraw from the Zambian Copperbelt, less has been made of the problem its next-door neighbour has been having with its investment in the copper-mining country. 

Zambia's deep copper project unlikely

29th April 2002 It is unlikely the Konkola Deep Mining Project (KDMP) would go forward in the near future, warned World Bank country representative Laurence Clarke. Addressing financial journalists on 

Zambia seeks up to $200m for mining giant's pull out

29th April 2002 Zambia is seeking up to $200-million in exit payments from Anglo American and an orderly and quiet pullout from its troubled Zambian venture, senior Zambian Treasury officials said. 

Zambia's Chambishi has the cobalt blues

By: Martin Zhuwakinyu     26th April 2002 While much attention has been paid to Anglo American’s decision to withdraw from the Zambian Copperbelt, less has been made of the problem its next-door neighbour has been having with its investment in the copper-mining country. 

Zambia copper mine in ownership rejig

24th April 2002 Canada’s First Quantum Minerals said it had cut its stake in Zambia’s Mopani Copper Mines to 16,9% from 44% but would remain active on the rich Zambian copperbelt. 

Canadian miner in new Zambia purchase deal

18th April 2002 Canadian miner First Quantum Minerals has signed an amended definitive purchase agreement with ZCCM Investment Holdings (ZIH) and the government of Zambia in relation to the purchase of an 80% interest in the shares of Kansanshi Mining. 

SA miner denies Roan Antelope deal

18th April 2002 South African miner Anglovaal Mining (Avmin) said it has not agreed a deal to buy troubled Zambian copper miner Roan Antelope Mining Corp (Ramcoz). 

$4,5m financing for DRC project

17th April 2002 Australian miner Anvil has completed the signing of all the documentation for the Project Financing Facility of $4,5-million from RMB Resources, for the development of stage one of the Dikulushi project, located in the Democratic Republic of Congo. 

Zambia finds partner for copper mines

16th April 2002 Zambian President Levy Mwanawasa said he had found a strategic equity partner to invest in Zambia’s troubled Konkola Copper Mines (KCM) after Anglo American’s decision to pull out of the venture. 

Konkola output shy of target

12th April 2002 Zambia’s Konkola Copper Mines (KCM) said its Konkola mines had produced 51 452 tons of copper during the first quarter of 2002, falling short of its target, as a cash squeeze affected production. 

Zambia's copper output weakens

10th April 2002 Zambia’s February primary copper output declined from January, and worries over the future of the country’s largest mines could see it decline even further over coming months, analysts said. 

Canadian zinc-copper mine to reopen

9th April 2002 Mining group Boliden said it would reopen its Myra Falls zinc-copper-mine in Canada to supply Asian customers who have had difficulty obtaining raw materials since the mine closed in December. 

Can Zambia emerge from its Copperbelt Crisis?

8th April 2002 Zambia – Copper is still Zambia's major foreign-exchange earner – even after the privatisation of State mines – and will be for some time to come. 

Can Zambia emerge from its Copperbelt Crisis?

5th April 2002 Copper is still Zambia's major foreign-exchange earner – even after the privatisation of state mines – and will be for some time to come. 

Expansion work starts on Zambian solvent extraction plant

29th March 2002 The second-phase construction on the expansion of First Quantum Minerals' Bwana Mkubwa solvent extraction – electrowinning (SX-EW) facilities in Zambia has begun. 

Solution to Zambia mines crisis some way off

28th March 2002 The Zambian government and key stakeholders in the troubled mining venture majority-owned by Anglo American began talks in Lusaka this week to determine exactly how the London-listed firm will pull out. 

Zambia meets on Copperbelt crisis

26th March 2002 Zambia’s government will meet with its key donors and Anglo American today to hammer out a plan for the future of critical copper-mines Anglo is close to jettisoning, Zambia’s vice-president said. 

Copper rally should not result in ill-discipline

25th March 2002 The world’s largest diversified miner, BHP Billiton warned against excessive bullishness about copper prices, regaining ground this week on hopes of a world economic recovery. 

No obvious buyer for Zambia's Konkola mines

25th March 2002 Delegates at a copper conference in Chile said they saw no obvious buyers for Zambia’s cash-starved Konkola Copper Mines (KCM), close to being jettisoned by Anglo American. 

China's top copper frim to raise output 20%

22nd March 2002 The listed arm of China’s top copper producer Tongling Non-ferrous, Anhui Tongdu Copper, said its 2002 copper output is likely to rise 20% to 140 000 tons. 

Zambian copper talks heat up

19th March 2002 Multistakeholder negotiations, through the Konkola Copper Mines (KCM) shareholders’ steering committee, are heating up in a last-ditched attempt to restore financial stability at Zambia Copper Investment (ZCI) and KCM and to ensure that KCM’s operations are 

Gemstone mining holds promise for Zambia

15th March 2002 ZAMBIA – The gemstone industry is seen by some as a fast-growing business in Zambia possibly surpassing the copper mining industry which has suffered in the recent past. 

Zambian gov gives copper, cobalt mines tax reprieve

15th March 2002 Government has introduced tax concessions to all companies involved in the production of copper and cobalt other than Mopani Copper Mines and Konkola Copper Mines (KCM) effective from April 1 2002. 

Chinese copper firm sees stable output in 2002

15th March 2002 China’s third-largest copper firm, Yunnan Copper, aims to produce 170 000 t to 180 000 t of refined copper in 2002, depending on market conditions, a senior company official said. 

Zambia expansion on track

13th March 2002 Canadian miner First Quantum Minerals has completed phase one construction on the expansion of the Bwana Mkubwa facilities in Zambia. 

Zambia copper output climbs but woes continue

8th March 2002 Zambia’s embattled miners exported more copper in January than a year ago, but at prices which underlined why mining giant Anglo American is poised to quit the country, central bank data showed. 

SA mining giant in running for Chile copper

5th March 2002 Chile’s Codelco, the world’s largest copper producer, has withdrawn from a contest to buy Exxon Mobil’s copper company Disputada de las Condes, worth an estimated $1-billion. 

Zambia's copper output rises despite woes

5th March 2002 Zambia’s primary copper exports rose to 296 929 tons in 2001 from 216 655 tons in 2000 but copper prices fell by 6,1%, to $0,77/lb, Finance Minister Emmanuel Kasonde said. 

DRC mine to boost Zambian operation

4th March 2002 The life of the Bwana Mkubwa operation, which was the first significant investment by a private company in Zambia’s mining industry following the election of President Chiluba in 1991, has now been significantly increased through the new Lonshi mine just across the border, 3,5 km into the... 

Anglo asks for concessions to keep KCM going

28th February 2002 Mining giant Anglo American has approached the Zambian government for concessional funding to keep the Konkola Copper Mines (KCM) operational. 

More bad news from Zambia

20th February 2002 The decision by Metorex to place Chibuluma South on care and maintenance and substantially write down its investment in Zambian copper producer, Chibuluma South, marred what was otherwise a reasonably good quarter for the group. 

Small company, big capex ideas

By: Keith Campbell     15th February 2002 Anglovaal Mining, although one of the country's smaller mining companies, could account for up to 10% of all mining investment in SA from 2001 to 2006. 

Zambia gov to take over Copperbelt mines

11th February 2002 Zambia’s government said it intended to run the Konkola Copper Mines (KCM), which London-listed Anglo American had decided to sell or close because of a slump in world metal prices. 

Zambian Copperbelt comeback collapses

8th February 2002 Scarcely 18 months ago, there was much optimism about what had been dubbed the Zambian ‘Copperbelt comeback’, following the formation of the Anglo-backed Konkola Copper Mines (KCM), which included the much sought-after $500-million Konkola Deep Mining Project (KDMP). 

China to churn out more copper metal

6th February 2002 Most of China’s key copper smelters are planning to churn out more refined metal in 2002 and some are gearing up for expansion as world prices rebound, industry analysts said. 

World Bank to salvage Konkola

4th February 2002 The World Bank said it was ready to find cash so Zambia could save mines owned by Anglo American from closure if the mining giant pulls out of the country. 

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