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Lumwana Mine
The Lumwana mine is a large copper mine located in north-west Zambia in North-Western Province. Lumwana is owned by Barrick Gold and represents one of the largest copper reserves in Zambia Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are t ... and in the world having estimated 5.014 billion pounds of proven and probable copper reserves of ore grading 0.68% copper. The mine is operated by Lumwana Mining Company Limited (LMC). Timeline In 2019, Barrick Gold considered selling the mining operation after receiving interest from potential buyers following its merger with Randgold Resources Ltd., however the discussions fell through. It had previously in the same year attracted interest from companies including China Minmetals Corp., Jiangxi Copper Co. and Zijin Mining Group Co. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North-Western Province, Zambia
North-Western Province is one of ten Provinces of Zambia. It covers an area of , has a population of 727,044 and a population density was 5.80 per square kilometre as of 2010. It is the most sparsely populated province in the country. The provincial capital is Solwezi. The literacy rate stood at 63 per cent against a national average of 70.2 per cent. The rural population constituted 77.45%, while the urban population was 22.55%. North-Western Province is bordered along Angola in the west, the Democratic Republic of Congo (DR Congo) in the north, Copperbelt Province in the east, Central in the south-east, and Western Province in the south-west. Agriculture was the major profession and Sorghum was the major crop in the province with 1,038 metric tonnes, constituting 8.98% of the national output. The unemployment rate was 14 per cent and the general unemployment rate for youth stood at 31 per cent as of 2008. Zambezi Airport, Solwezi Airport and Kalumbila Airport are the only ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zambia
Zambia (), officially the Republic of Zambia, is a landlocked country at the crossroads of Central Africa, Central, Southern Africa, Southern and East Africa, although it is typically referred to as being in Southern Africa at its most central point. Its neighbours are the Democratic Republic of the Congo to the north, Tanzania to the northeast, Malawi to the east, Mozambique to the southeast, Zimbabwe and Botswana to the south, Namibia to the southwest, and Angola to the west. The capital city of Zambia is Lusaka, located in the south-central part of Zambia. The nation's population of around 19.5 million is concentrated mainly around Lusaka in the south and the Copperbelt Province to the north, the core economic hubs of the country. Originally inhabited by Khoisan peoples, the region was affected by the Bantu expansion of the thirteenth century. Following the arrival of European exploration of Africa, European explorers in the eighteenth century, the British colonised the r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barrick Gold
Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario, Canada. It has mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia. In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce and 432 million pounds of copper at all-in sustaining costs of $2.52/pound. the company had 71 million ounces of proven and probable gold reserves. Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021. Barrick had been the world's largest gold mining company until Newmont Corporation acquired Goldcorp in 2019. Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020. Chief executive Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Copper
Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish-orange color. Copper is used as a conductor of heat and electricity, as a building material, and as a constituent of various metal alloys, such as sterling silver used in jewelry, cupronickel used to make marine hardware and coins, and constantan used in strain gauges and thermocouples for temperature measurement. Copper is one of the few metals that can occur in nature in a directly usable metallic form ( native metals). This led to very early human use in several regions, from circa 8000 BC. Thousands of years later, it was the first metal to be smelted from sulfide ores, circa 5000 BC; the first metal to be cast into a shape in a mold, c. 4000 BC; and the first metal to be purposely alloyed with another metal, tin, to create ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic viability of investing in the equipment, labor, and energy required to extract, refine and transport the materials found at the mine to manufacturers who can use the material. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay. Mining is required to obtain most materials that cannot be grown through agricultural processes, or feasibly created artificially in a laboratory or factory. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desired materials, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Randgold Resources Ltd
Randgold Resources is a gold mining business operating mainly in Mali. Headquartered in Jersey, Channel Islands, it was listed on the London and the NASDAQ stock exchanges until it merged with Barrick Gold in December 2018. History The company was established in 1995 and was first listed on the London Stock Exchange in 1997. In 2000 it commissioned the Morila mine and in 2005 commissioned the Loulo mine. In September 2018, Randgold announced a share-to-share merger with Canada's Barrick Gold Corp in a deal worth $18.3 billion. According to this deal, Randgold Resources investors will hold 33% of the combined company. The transaction was completed in December 2018. Operations The company's activities are concentrated on the following mines: * Morila Gold Mine, Mali * Loulo-Gounkoto mine complex, Mali * Tongon Mine, Côte d'Ivoire * Kibali Gold Mine, Democratic Republic of Congo (DRC) Additional projects are Massawa in Senegal but exploration operations are predominantly undertak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Minmetals
China Minmetals Corporation is a Chinese metals and mineral Trader (finance), trading company headquartered in Beijing. It is a state-owned enterprise, state-owned corporation under direct supervision of the State-owned Assets Supervision and Administration Commission (SASAC). China Minmetals is engaged in the production and trading of metals and minerals, including copper, aluminum, tungsten, tin, antimony, lead, zinc, and nickel. It is one of the largest metals and minerals trading companies in the world and the largest iron and steel trader in China. The company handles more than 12 million tons of steel products annually. It also trades iron, coke, coal, copper, zinc, and lead. In addition to the trade of metals, China Minmetals also trades in electrical products and operates subsidiaries that focus on real estate development, marine shipping, mining, and other investment activities. In the United States, the company operates as Minmetals Inc, with its North American headquar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jiangxi Copper
Jiangxi Copper () () is the largest copper producer in Mainland China. Its operations include copper mining, milling, smelting and refining to produce copper-related products, including pyrite concentrates, sulfuric acid and electrolytic gold and silver. Its chairman is Mr. Li Yuhuang and its headquarters is at Guixi, Jiangxi, China. The company manufactures 340,000 tons of copper annually from its mines, which include the Dexing and Yongping pits and the Wushan, Jiangxi, underground mine. Jiangxi Copper is also engaged in the production, processing and sale of copper cathodes, copper rods and wires and other related products. The company also provides precious metals such as gold and silver; chemical products such as sulfuric acid and sulfur ore concentrate; as well as rare metals and minerals such as molybdenum, selenium, rhenium, tellurium and bismuth. Jiangxi Copper is also involved in the exploration and exploitation of copper, gold, silver, lead and zinc, as well ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zijin Mining
Zijin Mining Group Co., Limited is a multi-national mining company headquartered in Mainland China. Background Zijin is a Shanghai Stock Exchange and Hong Kong Stock Exchange listed mining company principally engaged in the prospecting, exploration, and mining of gold, copper, and other mineral resources with operations in 11 countries. Its largest shareholder Shanghang Minxi Xinghang State-Owned Property Investment Company, which holds 24% of Zijin, is owned by the government of Shanghang County, Fujian Province, where Zijin's head office is located. Zijin is one of the largest gold, copper and zinc producers in China. Activities In 2006, Zijin had 49.28 tons of the gold output and the gold produced from mining reached 20.70 tons, respectively accounting for 20.53% of China's total gold production and 11.51% of the gold produced from mining in China in the same year. In 2010 gold output had reached 69 tons but was expected to be only 37 tons in 2018, slightly less than the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Bristow (businessman)
Dennis Mark Bristow is a South African businessman, the President and CEO at Barrick Gold Corporation. He was previously the Founder and CEO at Randgold Resources, which was purchased by Barrick in 2018. Early life Born in Estcourt, South Africa, Bristow attended Estcourt High School and then graduated from the University of Natal with BSc and PhD degrees in geology. In the 1970s, he served as an officer in the South African Army and saw active service against guerrillas in Swaziland and Angola. Career Bristow joined Rand Mines in 1981 and then became head of exploration at Randgold & Exploration. In 1995 he created Randgold Resources and listed it on the London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ... in 1997. In 2018, Barrick agreed to buy Randgold i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalty Payment
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchising, franchise agreements have comparable p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Zambia
In Zambia, the Zambia Revenue Authority, a body under the Ministry of Finance, is in charge of collecting taxes on behalf of the Zambian Government. Income in Zambia is taxed on the source principle or deemed source basis in some instances. Residents are taxed on domestic source of income and certain types of foreign income, non-residents are normally taxed on Zambian source of income. Zambia has the following direct taxes: Company Income Tax, Personal Income Tax, Withholding Tax, Presumptive Tax and Property Transfer Tax. Corporate Income * Company Income Tax The general rate is 35 percent for both resident and non-resident companies. For companies involved in agriculture, manufacture of chemical fertilizer and non-traditional exports, the rate is 15 percent while that for mining is 30 percent and 40 percent on bank profits above K250 million Reduced Rates and Suspension of Corporate Income Tax on profits from manufacturing of ceramic products. The table below gives a br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
