By Nawa Mutumweno – MTN and African Life Assurance Zambia have introduced MTN Life after Life, a unique Life Assurance product that enables a policy holder to cover their Life at a Micro-Insurance level using MTN airtime as the method of payment. This initiative allows every Zambian who has an MTN line to have Life Assurance at an extremely low cost. From as low as ZMK1 500 a month, the family of the policy holder can receive a level of financial support should a tragedy occur. ‘’MTN and African Life Assurance Zambia believe this is an important step in providing... Continue Reading
By Nawa Mutumweno – Zambia’s tax revenues from copper mining has leaped by 46% to ZMK35 billion per month following the doubled mineral royalties which came into effect in April this year. According to Finance deputy minister Miles Sampa, the government’s move to resist calls for 25% windfall tax and instead embrace the mineral royalties have started bearing fruit. ‘’The government has managed to obtain ZMK35 billion more from the mines due to the increase in mineral royalty tax and that represents an increase of 46% per month. The mineral royalty was definitely the better way to go because as... Continue Reading
By Nawa Mutumweno – Government has introduced regulations that compel mining firms to provide information on tonnage, type and grade of ore mined including operating cost sheet and production figures to contribute revenue to the Treasury. According to Statutory Instrument No. 34 of 2012, mining companies would be required to submit reports on the recovery percentages and efficiency of all mining and metallurgical processes and balance sheet showing the disposition of all metal and mineral products derived from the ore reserves. Providing a statement of work carried out on capital products and expenditure and availing quantities and grade of end... Continue Reading
By Nawa Mutumweno – Mopani Copper Mines (MCM) is to spend $1.5 billion on a new copper project that would extend the life of its Nkana and Mufulira operations beyond 30 years. According to the company’s chief executive officer Danny Callow, the Glencore International Plc majority-owned firm, was finalising a feasibility study which could facilitate the spending of an outlay up to $1.5 bn into another copper project. If the feasibility study proves viable, the investment would be in two new ultra deep shafts and modern copper processing plants, which would enable MCM double its underground production of copper to... Continue Reading
The Underwater Centre in Fort William and Unique System (UK) Ltd have formally concluded an agreement for the representation of The Underwater Centre in the Aberdeen area. A Unique Maritime Group Company, Unique System (UK) Ltd will highlight The Underwater Centre’s services and facilities to the industry. These include subsea trials facilities, commercial diver and ROV pilot technician training, as well as bespoke corporate training courses essential for the oil and gas and renewable energy organisations globally. Founded in 1993, Unique Maritime Group (UMG) is one of the world’s leading integrated turnkey subsea and offshore solution providers. Through its expanding... Continue Reading
