CHINA Nonferrous Metal Mining Group Company (CNMC) president Luo Tao has said his company wants to work with the Zambian people to bring sustainable development to the country.
Mr Luo said when he paid a courtesy call on the Copperbelt Minister Mwansa Mbulakulima that his company wanted to work along side the Zambian people in contribute to the economic development of the country.
He said his management at the CNMC Luanshya Copper Mine(LCM), Chambishi mine, Chambishi smelter and Chambishi leaching plant adhered to the Zambian labour laws and the other laws that governed the country.
Mr Luo said his firm was committed to having a good relationship with the Zambian workers and that was why the top management at LCM consisted of two Zambians while 60 per cent of the departmental heads at the mine were Zambians.
“We have employed alot of Zambians at LCM and two managers are Zambians, while 60 per cent of those managing the different departments are also Zambians,” he said.
Mr Luo said his company had so far spent USD 42million on modernising the equipment at LCM and would continue doing so until the equipment is modernised.
He said the former owners of LCM did not invest a lot in modernising the equipment at the mine saying that CNMC was a good investor that ensured that its investments had modern equipment.
Mr Luo also said President Rupiah Banda’s visit to China on the invitation of the Chinese President Hu Jintao was successful.
He said President Banda signed some treaties, while he was there and that the President called for Chinese investors.
Mr Luo said President Hu then instructed those that had invested in Zambia to expand their investment and CNMC, therefore, approved a further USD 500 million in its subsidiaries in Zambia.
CNMC LCM would receive US$300 million, while Chambeshi mine, smelter and leaching plant would receive US$200 million this year.
Mr Luo said he was impressed with President Banda’s leadership and that of Mr Mbulakulima.
He said President Banda was committed to bringing investment to Zambia that would improve the economy.
Mr Luo said Mr Mbulakulima was also working hard to upgrade the Copperbelt which has resulted in the development that he had observed over his seven visitations.
It was because of this, he said, that CNMC felt supported by the Government and triggered the company to invest further in the Copperbelt.
Mr Luo said the company had recorded progress in the Baluba mine development and that he was happy with the work that was so far done in all its subsidiaries.
And Mr Mbulakulima said the Chinese group had expressed resilience and endurance and was, therefore, Zambia’s partner in development.
He said he was happy that CNMC was willing to invest USD 500 million this year in its Copperbelt subsidiaries.
Mr Mbulakulima said he was also happy that the company observed the Zambian laws as that was how it should be.
He said Zambia had world class economic policies that more Chinese investors should take advantage of and invest in Zambia.
[Times of Zambia]
In Zambia we need not only mining but also prodution of finished goods, that is good for our nation we cannot only be sending our our minirals away and buy them back at very high prices, this is what Zambian leadership should consider
#1 I think that is why the govt is proposing to build processing zones for light industries. Funny how bloggers dont want to comment on this story.