By Own Staff Reporter – Doha, QATAR – Qatar Airways Chief Executive Officer Akbar Al Baker last week hit back at comments made by the Secretary General of the Association of European Airlines about the dramatic rise of Gulf carriers and their impact on the global aviation industry. The boss of the Doha-based carrier said comments made by Ulrich Schulte-Strathaus at a recent gathering of the International Aviation Club in Washington DC were “factually incorrect and unfounded”. Said Al Baker: “I recently came across the remarks made by a colleague of ours, Mr Schulte-Strathaus, Secretary General of the Association of... Continue Reading
By Nawa Mutumweno – Construction of a railway line connecting Botswana’s Mmamabula coal field with the Namibian port of Walvis Bay to cost up to $9 billion is expected to commence in eighteen months. According to Namibia’s director of railway affairs (Ministry of Works), Robert Kalomo, construction of the Trans-Kalahari Railway would take five years ranging between $5-9 billion. The Trans-Kalahari line would stretch over 1 500 km from Mmamabula to Walvis Bay, with a possibility of a connection to the South African Waterberg coal field, which is poised to be South Africa’s next major coal mining area. Twenty-one consortiums,... Continue Reading
By Nawa Mutumweno – Equinox Minerals is to spend between $450 million to $550 million for plant expansion, mainly on the concentrator to accommodate increased copper ore from the Chimiwungo East shoot within its mining area in North-Western Zambia. According to an update on the expansion strategy for its Lumwana copper mine issued by Equinox Minerals president and chief executive Craig Williams on February 3, 2011, the expansion investment decision was expected in early 2012 with expanded production anticipated to commence in 2015. Following the discovery of the Chimiwungo East shoot at Lumwana in early 2010, a continuous six rig... Continue Reading
By Nawa Mutumweno – Universal Mining and Chemical Industries Limited (UMCIL) is to invest over $130 million in the development of two iron ore mines and construction of a railway line from Mumbwa (Central Zambia) to Lusaka. The railway line would be pivotal in addressing transport infrastructure bottlenecks. The two mines would be in Mumbwa and Nampundwe respectively. According to UMCIL technical director Julius Kaoma, the $130 million investment would be spread over the next three years. The planned investment covers a feasibility study, geological investigation and the development of the mine in Mumbwa district. “We plan to build a... Continue Reading
By Nawa Mutumweno – Zambia is this year scheduled to receive $1 billion from India in foreign direct investment (FDI) and from Indians living in Zambia. According to Commerce, Trade and Industry minister Felix Mutati, of the $1 billion, about half was projected to come from Indians living in Zambia while the other half would come from Indian investors. Addressing the Indian business community in Lusaka recently under the auspices of the Indian Business Council of Zambia (IBCZ), Mr Mutati acknowledged India as Zambia’s biggest investment partner with figures standing at over $3 billion. Unlike most large-scale investors in the... Continue Reading
