Mines Minister WILBUR SIMUUSA has said that the Patriotic Front government will NOT nationalise the mines. Mr SIMUUSA however, said government will increase its participation in the mining sector.
EFFIE MPANDE who is with the minister in SINAZONGWE reports that Mr. SIMUUSA insisted that government wants to ensure ordinary Zambians benefit from their mineral wealth.
Mr SIMUUSA was speaking when he met management at Mamba Collieries Limited. He assured management at Mamba Collieries that their investment at the firm is safe.
Mr SIMUUSA said government will fully support investors in the country to ensure that more jobs are created for them. The minister also said Zambia will soon start oil and gas explorations.
And Mamba Collieries Resident Director ASHWIN DEVINENI said Nava Bharat which took over the mine has made alot of progress in resuscitating the firm.
Mr DEVINENI said the company is investing one point two billion dollars in the mine. He also said Mamba Collieries is producing One hundred thousand tonnes of low and high grade coal per month.
ZNBC
gud move mr minister
open up new mines as well. we need 1 in eastern province and another1 in luapula. so, stop yapping over things you never worked for and get down to work. hope you know what it takes to convince investors to come and risk their hard earned resources in zambia.
iwe are you sick??has anyone ever worked for copper to be underground?muzi nkala na nsoni,no wonder you will continue suffering at analyst corner, imbwa iwe..!!
@analysis corner…you think opening up mines is like opening a shop…hahahahahahah….dull chap…exploration is vital my friend…how do you open a mine where there are no minerals…grade 2 iwe……..hahahahahahahahaha……wandepula weee…
is from ….. in case pass xenophobic attacks
Chizungu LT!!
The government through Zccm-iH ,should start their own mining projects, even on a small scale.
So that investors be the ones acquiring the 30% not other way round
#2, naiwe wachilamo. ati opening new mines lol! nalemona kwati uliwamano sana kanshi..ni yaba!! anyway ,nukusiana kwamasukulu.
@5 Ba Bigge, how will ZCCM-iH manage the mines now when they failed dismally in the past?
@7 cindy .for how long I we going to parasites ? Eqinox sold lumwana mine for$ 7billion in a country (zambia) that has a debt of $1.4billion
We can not keep on talking about nationalisation, cannot we move forward please, whilst other country without natual resources to talk of like Singapore are charting the course for the future with green technology and benefiting from the internet. We are Africans are preoccupied with nationalisation and redoing was previous governments have done. What Zambia needs now is leaders that enourage Zambians to think big and develop the country, We have a country that have city council who have not done citry planning since the 1950s, we have road infrastructure that needs to be developed to cater for mega cities in the future, sanitation systems, power systems the list is endless and yet we have leaders who can not think, their only goal is geeting re-elected.
You’re spot on…..
We can not keep on talking about nationalisation, cannot we move forward please, whilst other countries without natual resources to talk of, like Singapore are charting the course for the future with green technology and benefiting from the internet. We Africans are preoccupied with nationalisation and redoing what previous governments have done. What Zambia needs now is leaders that enourage Zambians to think big and develop the country, We have a country that has city councils who have not done city planning since the 1950s, we have road infrastructure that needs to be developed to cater for mega cities in the future, sanitation systems, power systems the list is endless and yet we have leaders who can not think, their only goal is geeting re-elected, what a shame.
I thought this was going to be a boring article but turns out to be hilarious after going through the comments. Someone thinks the government can open up mines the way shoprite opens shops around the country. Very soon we will be hearing the UPND demanding Gold mines in Southern Province. The prerequisite for opening a mine is availability of minerals. And the minerals should be worth the mining.
How will Govt increase participation in the mines, by increasing ZCCM-IH shareholding? Where will they get the capital / money to buy those shares? Or are they going to grab them by force?
Its funny Zambians advocate government involvement in mine operations while history has clearly shown that all governments are pathetic at running anything. Just think about it. Zesco, Zamtel, Water n Sewerage, Zampost, UTH etc, are firms run by politicians & look at the services we get!Â
Government initially nationalized profitable mines and run them down to a level that they were costing the country millions of $$$ just to sustain them. Today government happily collects millions in taxes and royalties.
Wealth and jobs can only be created by the private sector through higher productivity. Government involvement in the running of businesses is just a recipe for corruption.
This country will only move forward when Zambians realize that the government is not the solution but the problem.
ZCCM failed because copper price was low ie $1500, mines were not profitable…
Now copper price is high… $8500 a tonn !!
You understand why zccm-ih is able to run mines ?!
Moreover, executive chairman of zccm-ih is a very competent guy
#12
it’s very easy
#Mopani uses transfer pricing to pay no taxes and no dividends to zccm-ih
According to NGOs in its pilot audit by Grant Thornton, the govt lost an estimated income of USD 175 million in tax revenue between 2003 and 2008 and zccm-ih lost $300 million !!!
The govt should revoke the Glencore licence!!
# Kansanshi Mining (First Quantum Mineral) owes ZCCM-ih $ 475,1 million… but those looters refused to pay their debt….
$775 million at least!! so zccm-ih could raise its stake in existing copper mines from 10-15% to at least 35% !!
IT WAS MARGARET THATCHER’s INVOLVEMENT IN THE RESOURCES SECTOR (OIL) THATÂ MADEÂ HER SUCH A SUCCESSFUL PRIME MINISTER. ZAMBIA NEEDS SOMETHING SIMILAR. 35% PARTICIPATION SHOULD BE THE MINIMUM AIMED FOR.
I KNOW FIRST QUANTUM and GLENCORE, THEY ARE EXTREMELY UNSCRUPULOUS!!!
mwanawasa opened mines in N/W. You also discover some in Luapula.
#13 you are spot on. all this notions that gov can keep property on our behave is an illusion.Â
Mike Te # 15 you have your facts and theory wrong.Gov failed to run mines not because of low copper prices. are you suggesting that the gov should be running these businesses only when business conditions are favorable? or that success solely depends on prices of commodities? No success depends on adjustment to the prevailing condition. private sector is more responsive that gov.
for your info gov not only the zambian gov have failed to run mines , zamtel, Nitrogen chemicals, kapiri glass for the same reason.MANAGEMENT factors-human resource, capital investment. just take a look at all failing countries
#11Â Â prerequisite for opening a mine is NOT availability of minerals but money.we could be sitting on an oil field for as long as the is nobody with money to do the searching we will not be opening a drilling site.
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