By Nawa Mutumweno – The performance of the Zambian economy has been good with real domestic product growth projected at 6.6 percent in 2010 boosted by the record maize harvest, a rebound in tourism and a continued increase in copper and construction output, according to the International Monetary Fund (IMF). The Bretton Woods institution’s mission chief George Tsibouris told journalists recently that the Government’s diversification programme coupled with the bumper harvest recorded during the last farming season has had positive impact on the country. “This year, the bumper maize harvest and the strengthening of the Kwacha have helped bring inflation... Continue Reading
Publish Date: Wednesday, November 10th 2010 |
By Nawa Mutumweno – The Development Bank of Southern Africa (DBSA) has given the Zambia Electricity Supply Corporation (ZESCO) a $105 million loan facility to co-finance the expansion of its Kariba North Bank hydropower station. The 360 MW hydropower station, which is being developed as an extension to the existing 720 MW Kariba North Bank power station, on the Zambezi River will cost $430 million. Construction works by China’s Sinohydro commenced in November 2008 and are scheduled to be completed by December 2012. “This signifies a major step change aimed to support the Southern African Development Community energy supplies into... Continue Reading
Publish Date: Wednesday, November 10th 2010 |
By Nawa Mutumweno- The Alliance for Commodity Trade in Eastern and Southern Africa (ACTESA) has called on stakeholders in the honey sector on the continent to drive the industry forward through creating a policy framework at national and regional level; achieving consensus on minimum standards; establishment of national and regional honey platforms; working together on expanding regional and international markets for products; and development of capacity of all players. ACTESA chief executive officer Dr. Cris Muyunda said this when he officiated at the closure of the ApiExpo Africa 2010 on Thursday, October 28, 2010 at Taj Pamodzi Hotel in Lusaka.... Continue Reading
Publish Date: Wednesday, November 3rd 2010 |
By Nawa Mutumweno – First Quantum Minerals (FQM) has projected to spend between $600 million to $800 million as capital cost to develop its Sentinel deposit in North-Western Zambian. The company which owns Kansanshi gold and copper mines have announced that the development of Sentinel deposit, formerly Kalumbila, was scheduled to begin in the second quarter of 2011. The Trident Project comprises five prospecting licences totaling 2 300 square kilometers containing a number of attractive base metal prospects including the Sentinel deposit. Approximately 150 km the provincial capital, Solwezi, the Trident Project was obtained through the acquisition of the Kiwara... Continue Reading
Publish Date: Wednesday, October 27th 2010 |
By Nawa Mutumweno – The new Konkola North copper mine has opened in Chililabombwe on the Zambian Copperbelt with an investment of $380 million. The mine is owned by Konnoco, a joint venture (JV) between South Africa’s African Rainbow Minerals (ARM) and Brazilian mining giant, Vale. It was inaugurated by President Rupiah Banda recently, the fifth mine he has opened since taking office in 2008. On completion in two years time, the mine is expected to produce 45 000 tonnes of copper per annum, contributing to a nationwide copper output target of one million tonnes by 2013. The project will... Continue Reading
Publish Date: Tuesday, October 26th 2010 |
