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Copper Prices Falls Impact To Zambian Mining Exploration Sector and Economic Growth
1,000 Mining Jobs and Other Sector Shut Down
With about 60 percent of the country’s workforce, copper mining has historically been the lifeline of Zambia’s economy. But lately and because of the fallen prices of copper on the world market, the Zambian economy has been struggling.
Several Mining Companies Hold Plans New Mines Onstream
The global financial crisis and sharp falls in metals prices have forced several companies to abandon or put on hold their plans to bring new mines onstream.
Mining Exploration Project, Production and Finance in World Trade and Market
LONDON (Dow Jones)
- United Company Rusal is to increase the level of aluminum production it cuts to 4% of its total global output, or around 168,000 metric tons a year, a company spokeswoman told Dow Jones Newswires Monday.
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 [...]
Surging mineral prices help Zimbabwe earn more from its minerals
The Southern African country of Zimbabwe has registered an almost six-fold increase in mineral sales for the first 10 months of the year. These totalled US$591m compared to US$103m earned in the same comparative period last year, the Minerals and Marketing Corporation of Zimbabwe (MMCZ), which is charged with the duty to sale and market [...]
Copper mine investment expected to stabilize in Zambia
Copper mine investment is expected to stabilize in Zambia after its recent elections, according to Hoovers Newswires.
Vice President in charge of corporate communications of a Canadian copper mine in Zambia Kevin Van Niekerk was quoted as saying after the announcement on Monday of the re-election of President Levy Mwanawasa, copper mining companies are relieved [...]
Zambian opposition plans to limit foreign ownership
Zambia’s Patriotic Front, the main challenger to President Levy Mwanawasa in elections next week, will limit foreign ownership of local assets to 51 percent if it comes to power, said Secretary General Guy Scott.
The country, Africa’s biggest copper producer, may also impose a windfall tax on mining companies following a surge in metal prices if [...]
