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Barrick CEO wants to search for more copper in Zambia and Congo

7th July, 2023

KALUMBILA, Zambia July 7 (Reuters) – Barrick Gold (ABX.TO) is keen to explore for more copper deposits in Zambia and Democratic Republic of Congo as the miner seeks to expand its presence on the African copperbelt, its CEO said on Friday.

The world’s No. 2 gold miner wants to explore for deposits of the metal in southern parts of Congo, while expanding and extending the life of its Lumwana mine in Zambia, CEO Mark Bristow said.

“We are looking at exploration opportunities across the country just as we are looking for exploration opportunities in southern Congo,” Bristow said during a briefing at Lumwana mine.

Zambia seals $6.3 billion restructuring in breakthrough for indebted nations

23rd June, 2023

PARIS, June 23 (Reuters) – Zambia has struck a deal to restructure $6.3 billion in debt owed to governments abroad including China, in a breakthrough for indebted nations around the world that have faced lengthy negotiations with their creditors.

China is the largest official creditor to Zambia, with $4.1 billion owed to the Export-Import Bank of China alone, underlining the importance of Beijing’s support for the deal.

Zambia in 2020 became the first African country to default on its sovereign debt during the COVID-19 pandemic and struggled since then in protracted discussions to agree a deal.