R/€ = 16.27 Change: -0.01
R/$ = 14.53 Change: -0.01
Au 1345.40 $/oz Change: 1.24
Pt 801.25 $/oz Change: 3.99


Zambia’s Mopani Copper Mines shuts down smelter

By: Reuters     18th June 2019 Zambia's Mopani Copper Mines (MCM) has shut down its Mufulira smelter for major refurbishment, the Glencore-owned company said on Monday. "The majority of the programme is expected to last until the end of the year and will result in a total shutdown of the plant. The investment in the new shafts... 

Zambian President threatens to fine miners who break law

By: Reuters     13th June 2019 Zambia will fine and break ties with mining firms that fail to operate according to the southern African country's laws, President Edgar Lungu said on Thursday, escalating a dispute with India-listed Vedanta. Vedanta is fighting Zambia's decision last month to name a provisional liquidator to run... 

KCM plans to restart smelter on June 22

By: Reuters     12th June 2019 Konkola Copper Mines (KCM), owned by Vedanta Resources, plans to restart its Nchanga smelter on June 22, the company said on Wednesday. KCM said the Nchanga smelter, near Zambia's border with the Democratic Republic of Congo, had been idle pending availability of concentrates. 

Zambian government has no plans to seize First Quantum assets – sources 

By: Reuters     11th June 2019 Zambia has no plans to seize the assets of First Quantum Minerals and the copper producer intends to stay in the country despite the government's move to wrest control of a rival miner, government and industry sources told Reuters. Canadian-listed First Quantum has looked on nervously as the... 

Vedanta to challenge winding up of Zambian business in court

By: Reuters     11th June 2019 Vedanta Resources on Tuesday plans to challenge the appointment of a provisional liquidator and the intended winding up of its Zambian business without the chance to be heard through lawyers of its choice, documents filed in court show. According to a notice filed in court on June 6, Vedanta... 

Zambia's Lungu resolved to 'evict' Vedanta as hearing postponed

By: Bloomberg     5th June 2019 Zambia will press ahead with the legal process to liquidate Vedanta Resources' local copper unit, President Edgar Lungu said, as a ruling about the matter was postponed to June 11. “We are resolved, we are determined to proceed with the liquidation process,” Lungu said Tuesday in comments... 

Vedanta's Zambia court hearing adjourned for a week

By: Reuters     4th June 2019 A court hearing following Zambia's decision to name a provisional liquidator to run Vedanta Resources' Konkola Copper Mines (KCM) business was adjourned for a week on Tuesday without tackling Vedanta's demands to be involved, the company said. Vedanta Resources, part-owner of the Mumbai-listed... 

Zambia's Konkola mines case a 'warning' to foreign investors

By: Reuters     31st May 2019 Zambia says its decision to punish miner Vedanta's local operation for breaching environmental and financial regulations is a signal to other firms to follow the law, mines minister Richard Musukwa said on Thursday. Vedanta is fighting Zambia's decision this month to name a provisional liquidator... 

Vedanta's Agarwal says willing to invest in Zambia

By: Reuters     29th May 2019 Vedanta chairperson Anil Agarwal said on Wednesday he was prepared to invest in increasing Zambian copper production to 400 000 t, creating another 10 000 jobs at Konkola Copper Mines (KCM), but said "the right framework" had to be in place. Vedanta is fighting Zambia's decision this month to... 

Vedanta-Konkola liquidation case adjourned to June 4

By: Reuters     24th May 2019 A court hearing between Vedanta, its Konkola Copper Mines business (KCM) and the Zambian government over control of KCM, was adjourned on Friday until June 4, a lawyer said. Vedanta is fighting the government's attempt to seize KCM, which is one of the biggest employers in Zambia, Africa's second... 

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