Zambia earned $886 million in copper exports in the first quarter of 2008.
This represents an increase of 3.2 per cent compared to $858 million earned in the fourth quarter of 2007.
Cobalt export earnings increased to $108 million from $79 million in the same period.
This represents an increase of 36.9 percent.
Bank Of Zambia Govenor, Caleb Fundanga announced this in at the 2008 first quarter media briefing.
Dr. Fundanga however, said Copper output declined by 8.9 percent while that of Cobalt went down by 8.3 in the first quarter due to floods.
This is a bit misleading. I suppose this is the gross revenue earned by the mining companies operating in Zambia before taxes and fees. The bulk of this money does not make it back to Zambia so it can hardly be described as the country’s earnings. Zambia’s earnings are therefore more like 25-30% of that figuer depending on where the actual tax regime lies with the copper companies now.I find gradios figuers rather meaningless because they crowd the issues, if we were earning close to a billion dollars per quarter for the treasury we would not be asking for adjusted copper royalties now would we? Might just be a case of bad journalism here rather than BOZ govoner’s undifferentiated semantics
There is no plan in Zambia.Its now clear that after losing the fight against corruption, some people have become tired.The country is running on auto at the mercy of GOD.Lets work up.We seem to have no strategy nor do we have a plan to become a middle income earning country despite have all the resources and potential on our disposal
ITS AMAZING HOW WE LIKE TO TALK IN ZAMBIA. WE USE UP SO MUCH ENERGY TALKING. WE CRITICISE AND DO NOTHING ABOUT OFFERING SOLUTIONS. BETTER TO BE PROACTIVE THAN TO TALK ENDLESSLY. ZAMBIA NEEDS PRAGMATIC PEOPLE. WE ARE SO GOOD AT PRODUCING TALKERS ITS AMAZING. IF YOU ARE NOT HAPPY DO SOMETHING ABOUT IT. FULL STOP!!!!
#2 you just hit the nail on the head. This is the exact things I tell my friends that Zed is on auto pilot. There are no definate plans/programs to develop the country. Take agriculture for example, 3 yrs ago we LPM & govt were talking about a bumper harvest and how they were doing fine with their policies in place. But the following year we were back asking for relief food. Reason???? We had a draught.
con’t…. You dont have to be a rocket scientist to analyse that the bumper harvest we had the previous year was dur to good rains in that year. NO POLICY whatsoever. Its the same with the economy, high metal prices and HIPC plus the crisis in Zimzim have somehow made LPM & govt seem to be doing fine.
cont’d…. should any of these conditions change, Zed will be back to its original/true conditions. I for one see the lack of infrastructure (roads, airports, hospitals, stadia, telecommunication, schools, universities, housing, hotels etc )to the main problem in Zed. These are the wheels on which the economy movies on.
As #1 has already pointed out, this is not true, but a lie. Even if it were true the GRZ is earning that much be specific. Is this net or gross profit. Dont endlessly take citizens for fools. In any case being proud of selling raw copper is tantamount to stupidity. Adding value to the same copper would have made us a lot of billions.
And now zed earns so much so what .lets the standerds of living improve
OFF SIDE:
Has anyone noticed the ads on LTs, I have seen ads promoting gay lifestyle, I have also seen porn ads too.
I understand that LTs makes it money from banner ads but you need to think about what you’re promoting in exchange for the little ngwees you earn from the banners.
OTHER ISSUES
The problem in Zed is that development is only felt by a tiny number of people, the majority don’t feel or benefit from the developments taking place in the country. This is because everything is foreign private sector driven.
Anonymous #9
LT Does not control what adds appear on this site. google searches page containt and then puts relevant adds to suit the interests of visitors.
if you do some reseach again, you will notice that the gay adds are only appearing on the ‘Sata out of danges’ post simply because a good number of blogges posted words like ‘viagra, prostitutes, sex etc etc
Zambia has no leadership at the top of its governance. We have economic hooligans masquarading as leaders as seen by absence of any cohorent policies to ensure that Zambia benefits from her God Given natural resources. You can see that this GRZ focuses on copper, cobalt, gold, diamonds, etc. They have no where stated how much we are losing from emeralds. It is clear to me that LPM and co. are sophisticated gangsters working hand in hand with some foreign cartels. Too bad that Sata is now too sick to champion any calls for social justics and real economic democracy or perestroika on our mineral wealth.
Zambia earned that much.So what?? That earning is useless if our roads and infrastructure keep on deteriorating with no attention from the govt.What a nation! 95% of our roads need swift attention interms or repairs.Development in Zambia is on paper only and can be visibly felt.Shame on you,Magande and Fundanga!!
#10 You are right, the ads depend on the content or words used by web visitors to produce ads. How much is this market those Zulu? In your own opinion, how much would you say LT makes out of this model of revenue generation?
CORRECTION
**How much is this market worth Zulu?
Our political parties have no clear cut, coherent and consistent policies on most core issues affecting us. What is the MMD philosophy? What are its ideals? Beliefs? These questions should be the baisc framework of any political organisation. The what are UPNDs policy stands on the Mineral Royalty Tax? Sending politicians to SA and UK for medical check ups? What is the ‘DNA’ for the PF?
What I am trying to put accross is that these parties are not formed on vivid priniciple and hence have no consistent policy, values and beliefs! Its had to follow!!! You can’t tract consistency? Yes the MMD seems to have no clear cut stratergy, year after year we ear new phrases!
Cont’d….
There is no sense of coherence in their plans. Its jumble year after year! Ad Hoc government! Its seems as though Stratergies are brewed depending on the political climate, to suit the condition of the day and time of in year! To be in good books with the public? We can’t win like this!
I don’t know what UPND and HH have on offer for Zambia! What solutions are they putting on the table? I dont want to hear the same old create jobs…. How are you gonna do that? How about taxes? How do you intend to boost agriculture? Industry? What’s you take on the FRAs? Are they benefiting us in any way?
Who controls this thing? I am trying to post a coment?
OP must have a hand in this propaganda machine. LPM thrives on secrecy and non-compliance to modern demcratic practices where transparency and accountability are a norm.
Finally, the choice of issues to float for Blogging by LT reflects an on-going agenda to keep on amusing LPM with flattery and sucking his toes.
It is high time we start seeing development now in Zambia since it seems we are doing very fine on minerals like Botswana.
But alas,we are just being fed on stories everyday.Poverty in the nation is sky rocketing.Chinese and Indian operators/drivers have taken up most of our children jobs.Why???
Nice data Dr Caleb Fundanga.
We are helping the chines and indians plunder the heritege of our children without leaving anything to show. This short sighted bussiness of exporting raw minerals without adding value is robbing zambias children of thir inheritance. We cant even make a spoon with our raw materials.
Zambia will be a barren land ,stripped of all its woodlands, and minerals with nothing to show. Those who export minerals to china know that adding value creates industries and jobs, that is why they do it in their country, robbing dull zambians of industries. Fools.
Floods, uncontrollable soil erosion, droughts, loss of top soil, hunger, and cannibalism are the things in store for Zambia due to the continuation of enslavement policies by LPM and his hooligans. LPM’s policies are selfish, only based on his welfare and not the general good of the vast majority of Zambia’s citizens. He is as empty as door bell. He is so weak intellectually that he is excited by white people quing to exploit Zambia and abuse his fellow citizens. He thinks that development is the volume of materials exported by foreigners and massive monies they earn from these exports! Why, even BOZ thinks that earnings by these foreigners translate to money for Zambia!
You are right my brother,nice data but are we Zambians seeing any development interms of roads,clinic etc.No!
continued from 22
We are indeed fools to just exporting raw minerals. The few hundreds of millions shown to the goverment is enough. They dodnt think of tomrrow. We have vast quatities of copper but we cant make cables, because industries that make cables create jobs Zambians are too stupied for that, just pay them the market price for the minerals. PLM i am dissapointed in you. What will tommorows children have when the copper the chinese are didgging day and night runs out ?. No manufacturing base what so ever. Not even a spoon is made in zambia. Shame on you GRZ.
# 11 you are right. Emeralds alone if well-run could sustain Zambia’s economy but this business has been placed in wrong hands that do not give back and continue to pilfer Zambia out of millions of dollars. There is no will power to correct this.
Strike the hammer when the iron is hot and make hay when the sun shines.This boom won’t last for ever.Lets make prudent investments especially in infrastructure: roads; schools; hospitals.
The 80’s and 90s were very rough on us.This glimmer of hope we have must not be squandered.We over liberalised during the 90s.It is time we start direction capital into manufacturing and processing raw materials.In fact we should be contempating a law to ban export of raw materials.Lets us also diversify into agriculture big time.
Am an ordinary Zambian and has never seen any benefits whatsoever, so please can we see those benefits than statitics!!!!!!!!!!
Levy and his ministers are incompetent – where is the money going. No major improvements in infrastructure, education, health etc after 17 years of MMD! Start working people