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Zambia Plans Increase Copper Mine Production at 700,000 Ton, 2010
Zambia’s copper output in 2010 is projected to rise to 700,000 metric tons due to increasing production at various mines, the country’s Finance Ministry has said.
Brazilian Mining Company, Vale Begins To Develop Coal Mine Project in Tete, Mozambique
Brazilian major diversified miner Companhia Vale do Rio Doce (Vale) has started development of its $1,3-billion Moatize coal project in Tete province, Mozambique. Production is scheduled to start in December 2010.
Mozambique Plans To Become Major Coal Mining Companies
Brazilian mining company Vale has launched a US$1.3bn coal mining project in Mozambique.
The new plant is expected to produce 11 million tonnes of coal a year, to be exported to Brazil, Europe, Asia and the Middle East.
Mining and Energy in South Korea Plans
South Korea plans to invest about six billion dollars in overseas mining and energy projects to secure stable supplies for the resource-poor nation, a state minerals explorer said Monday.
Korea Resources Corp (KORES) said it would work with local private companies to secure uranium, copper and other resources within the next eight years.
“The planned investment is [...]
Equinox Minerals Nears Debt Drawdown Time
Emerging copper producer Equinox Minerals has put a final touch on financing for its 100%-held Lumwana copper project in Zambia by securing a credit facility for contingent costs.
Equinox said the $45 million facility would only be used if cost overruns or other contingent obligations were encountered at the $847 million project, where mine commissioning was [...]
Tension in Bolivia, Africa to lift metals
Copper prices were buoyed on Friday by the prospect of a strike at a Peruvian mine, while Bolivia’s leftist president Evo Morales has put a shudder through the mining industry by nationalising Glencore’s tin, zinc and lead operations there.
The trend for governments to take advantage of the windfall profits being generated by miners is continuing, [...]
Hu vows investment, debt relief for Zambia
Chinese President Hu Jintao unveiled a package of investment and debt relief as he brought his Africa tour to Zambia, a visit clouded by tensions and high security amid anti-Chinese sentiment.
His route from the airport into the capital Lusaka was tightly guarded with hundreds of armed paramilitaries surrounding the pro-opposition University of Zambia in case [...]
Africa’s new colonialists?
When China signed trade deals worth $1.9bn with African countries last November, without any conditions on reforms and human rights, a German development official warned Africans they risked becoming Chinese subjects.
“Our African partners really have to watch out that they will not be facing a new process of colonisation,” Karin Kortmann, Parliamentary State Secretary at [...]
China favoured consort for Africa’s fund-hungry miners
Resources companies operating in Africa have increasingly been eyeing Chinese investment with mixed feelings.
On one hand, they view the Chinese as useful partners because they offer vast markets for commodities, but on the other hand their emergence as investors in African resources presents unwelcome competition.
China’s economic growth rate of nearly 9,5% a year reflects a [...]
