Anglo American Plc (AAL) has returned to Zambia, Africa’s biggest copper producer, to explore for the metal after exiting the country 11 years ago.
Anglo is operating in Northwestern Zambia where the government granted it two exploration licenses in December, Pranill Ramchander, a spokesman for the London-based company, said by e-mail.
Copper producers are looking to expand geographically after prices for the metal, used in plumbing and wiring, more than doubled in four years.
Traditional mines have become depleted, spurring companies to explore new areas or revisit former locations to keep pace with demand growth.
“Anglo American sees Zambia as highly prospective for a number of commodities but is currently only interested in copper,” Ramchander said yesterday.
The company is undertaking early-stage reconnaissance and may drill this year, he said.
Anglo decided to sell its stake in Zambia’s Konkola Copper Mines in 2002. The business was bought by Vedanta Resources Plc in 2004.
Copper producers in Zambia include Glencore International Plc (GLEN), Barrick Gold Corp., First Quantum Minerals Ltd. and Eurasian Natural Resources Corp. Rio Tinto Group (RIO) has a copper exploration joint venture in the country.
[Bloomberg News]
Good for the economy though these guys have a record full of scandles!! they massively lay-off employees etc. ask south africans,they ll tell u more abt these guys.
Good?. hahahah, zambians will never enjoy anything from that copper bussiness.. i mean oridinary zambia on those dusty streets
Development accentuates freedom but we are not free because development as a Zambians eludes us.
We have poverty in the midst of plenty and all we do is just watch….Pathetic
why ask SA when they did that just here in Zambia in 2002 when copper prices dropped! In fact they left the country! I wouldn’t welocme them if I was in charge!
We had ZCCM the copperbelt was thriving and booming and the entire nation benefited despite the low copper prices then.
Look at the copperbelt now, it’s a sad shell of its celebrated past. ZCCM did a better job for the country than theses infestors.
As for Anglo-America, why go back to eat your vomit? You do not mean well to our country in any way
This is like a wife who absconds once the husbands bank account, which she misused, is depleted, and then comes back using the small front door, hoping no one will notice she ‘s back !!!!! THESE SUCKERS SHOULD NOT HAVE BEEN ALLOWED BACK IN THE FIRST PLACE !!! THEY HAVE NO SHAME !!!! GO LOOK FOR COPPER ELSEWHERE !!!!!!!!
I can’t believe that Anglo American have been allowed back. They bought KCM and then asset stripped it and then sold on claiming that there was no future in the mines as the copper deposit was finished. All the expensive world class earth moving equipment was dismantled and shipped to Australia and I am sure they recovered the song that they got the mines for. My country is being treated like a prostitute who has been hired and used and then not paid and then beaten for asking for payment. I feel we should have had the decency to turn them away and look elsewhere. Where is our pride.
our copper nd we r the poorest in the world…
THEY WANT THE COPPER AND YET THEY WANT IT FOR A WHISTLE !!!!! THAT WAS THE REASON THEY LEFT…IN THE FIRST PLACE…..
THEY ARE PURE CAPITALISTS AND DON’T CARE WHO THEY HURT IN THE PROCESS !!!!
THEIR SOCIAL RESPONSIBILITY TRACK RECORD IS PATHETIC….ASK THE SOUTH AFRICANS……
they are just here to milk you and run away again..
anyway,even the lion can be tamed.
Just tell them to Fcuk off. It is our copper, in fact tax them more than any other mining entity. Or better yet, make them an example to all other mining companies.
Here comes the financial imperialists ! You dig up all the copper out of the ground then what will happen to Zambia 50 years after the foreign mines find it not viable to operate anymore ? Back to Agriculture ? I foresee us remaining with only dug out holes,trenches and tunnels as the only witness of the once viable industry in the country.Fili ukotuleya.
Why? Are these guys not blacklisted for attempting to destroy our mines and economy when they pulled out unexpectedly in 2002?
they probably wouldnt have pulled out if Andy wasnt dribbled by rigging
Natural resources don’t belong to any political party.They are God’s gift to a nation. Our politicians should be cautious when making decision on behalf of the state. Decisions should always be in the “Nation’s interest”. These guys should have been scrutinised and investigated before allowing them back. Anglo american are masters at asset stripping mines to control the metal prices. The increase in Zambia’s copper production is having a negative effect on their interests elsewhere. So they have to come back in disguise as investors but in truth, all they want is to buy you out, close you down and keep a firm grip on the metal market. Ever wondered why copper prices are controlled by London metal exchange even when the UK is not a major producer of the metal?
why are they back..eeeh? they shouldnt be allowed back ..do we have amnesia…anyway welcome back BSA company in disguise..Zambia is ur country
No. No No No. Dont allow them back. Lets work with the Chinese that stuck with us in hard times.
Spot on. Can’t agree with you more. Chinese have proved all-weather friends, indeed! Let’s stick with them.
I honestly and truly wish we didn’t have to do so much export of raw materials. If I remember correctly, it was called a waste asset or something like that. It will run out, but what are we really building with all this mining if our country will never look anything like the countries we export to. It doesn’t seem very useful if all we use these resources for is to keep us alive. Like a peasant farmer, who sees no hope and thinks little of a better life. I wish, as we are a Christian nation, that we could be born again into a vibrant and hopeful individual walking in the light and savouring our redemption. Redemption from the evil of poverty,corruption, underachievement, nepotism, favouritism, jealousy, envy.hatred, greed, murder, disease,and oppression. Amen?
Going back to old vomit?!! I hope this time around you will be strict with them and make sure they dont just exploit us!
Good that Anglo are back. Zambia needs different mining houses to set shop. Next we should invite the Australian (BHP Billiton) and Rio Tinto. Dependence on Chinese alone is not good for the economy.
GRZ needs to employ experts that will regulate these guys.
The meticulous to the point of anal types who like reading small print, understand legalese and are fluent in double speak.
That civics book page still haunts me – 51% Zambia 49% AA. That said we were just a ringed circle on someone else’s map. Coming to think of it we are probably a neat x marks the spot on someone else’s corporate presentation. If only we could….sigh. One day.
GENTLEMEN THE TRICKLE EFFECT IS NOT THERE. COPPER IS ON DEMAND BUT YOU DRIVE ON POTHOLES AS U MINE THE SAME COPPER ?
Taxation system vital for Zambia´s economy
Pana 26/03/2013
Improving taxation system vital for Zambia´s economy, report says – The 2013 Economic Report on Africa released on Monday says Zambia could improve its copper-dominated economy which would be ploughed into growing other industries.
According to the report, sectors likely to benefit from the reforms include agriculture, agro-processing, manufacturing, tourism, industrial minerals and precious stones.
The report co-authored by the Economic Commission for Africa (ECA) and the African Union (AU) was launched Monday in the Ivorian capital, Abidjan, where African Finance and Economic Ministers are meeting.
Copper has been the mainstay of Zambia´s economy since the 1930s, contributing around 10 per cent to the gross dome stic…
Zambia needs investers that will help boost the economy,and create employment for the youths.welcome back anglo.
Great, the capitalist nigers
No my Bru…they are as white as snow !!!
They left when we needed them most, they wanted the late President LPM to fail but it was not to be….they are not welcome.
Competition is good for business.
However,the mining companies don’t set the rules about a meaningful wage or rate of taxation and so its GRZ we should be asking to collect levies which they can use to diversify the economy ready for that day when the metal market slumps or depletes.
They refurbished the mines before they left. Its a pity they left in the first place otherwise they are genuine investors who made people around them very happy. I cannot imagine if they were still around when the coppoer prices jumped from 2 pin to 8 pin per ton
They just can’t come and go as they wish, we must set the rules. Look, they might get into production a few years from now, employ thousands of Zambians and then just suddenly and on very flimsy grounds decide to close shop shortly afterwards – throwing lives of many Zambians into disarrray! Let’s have serious sury clauses in these mining contracts!
It’s not a bad idea for the BSA company to land back in our rich country Zambia again, but the govenrment must ASK this suckers…..WHAT IS the MISSION and VISION toward us poor and merciful blacks of this nation?…You know what,my instinct reveals to me that, they are here not to boost the economy but to make Zambia the biggest man made lake in the world, this is by living big holes all round the country……Please minister of mines, kindly give them tough conditions that will make them think twice. i.e talk about structuaral and revenue conditions…….. PLEASE MY FELLOW ZAMBIANS REMEMBER THIS PROVEB…’AKABWELELA NUMA KALALYA’… AM TELLING YOU THIS TIME THIS TIME AROUND , WE WILL BE SUCKED UP TO THE BONE MARROW…AND THEY WILL MAKE SURE THEY LAEVE US WITH NOTHING TO RELY…
Agony is seeing a company like First Quantum make billions from a country that you totally wrote off and hurriedly exited 11 years ago!…Real agony for Anglo is seeing First Quantum which started off in Zambia, become one of the largest copper producers in the world!
First Quantum Minerals has acquired the 85.5% of the outstanding shares in Inmet Mining Corp.
The combination of the both firms’ assets has created one of the world’s leading copper producers with geographically diversified operations and development projects in eight countries
Lol. Mwa lasa!
Anglo can’t just be walking in and out of Zambia as they please. Look, after their exploration project they could be in production in the next few years and employ thousands of Zambians. But with no strict surities in these mining contracts they could as well walk out on very flimsy “economic” reasons shortly afterwards – throwing the lives of many Zambians into disarray! We’ve to guard against this. Secondly, we mus curb this slavish IMMIGRANT LABOUR system that is prevant at most South African mines where employees are accommodated in hostels next to the mines and kept AWAY from their families. This breeds AIDS and breaks families.Every mine should have a decent housing stock for its employees of ALL categories. Our minerals and people are worth much more than what these companies…
Ukulanda ati …Look,…chisungu chabututu
The Monkey has seen something shinny………………..
i dont know why u guys are so excited about these investors who are here to milky us and build their europe.what we should be fighting for is our govt to put policies that will help zambia economy to benefit from the copper boom.
nice one anglo!
zambia needs investers like anglo people who can boost the economy.not these indians who can not even contribute to the economy they can’t create employment,they also fail to clean the houses there living in and giving contact to the fellow indians.
Levy ‘begged’ these guys to stay,they refused and their sudden departure scandalized us and sent tremors on the LME and the global metal market. And now there are back, we will allow them but we should watch them with a hawkish eye and make sure they pay handsomely for it. These folks are hard core capitalists that will start a mine even in the midst of a nuclear bomb blast site, make profit and take off to dig more holes on Mars and Jupiter.
WHAT BRINGS THEM BACK? CHINA ELEBAFUFYO TULO SANA? THESE GUYS DUMPED ZAMBIA LIKE A PIECE OF SH!T NOW THEY ARE BACK. I NEVER THOUGHT THEY COULD COME BACK.
We are no longer interested in “infesters” who just show up when mangoes get ripe.
Yeah tell these exploiters
ANGLO NEEDS TO RETURN THE $2BILLION THEY SIPHONED FROM KCM BEFORE THEY LEFT. GOVT BORROWED $2BN FROM WORLD BANK FOR THE KONKOLA DEEP MINING PROJECT ON CONDITION THAT ANGLO WOULD ALSO CONTRIBUTE A SIMILAR AMOUNT. WHAT HAPPENED AFTER THAT CAN BE BEST EXPLAINED AS DAYLIGHT ROBBERY AS THE PROJECT WAS PUT ON HOLD, & THE $2BN SIPHONED BEFORE THEY SOLD KCM TO VEDANTTA. (THEY BOUGHT KCM FOR $1.00).
Vikawalala!
Insist on 50% equity should be for Zambians in one form or another. only money will trickle down effectively…
you Zambians should learn to buy mines. if you dont the outsiders will continue to exploite you!
Some interesting reading for those who missed out when Anglo American shocked the Zambian government in 2002.
http://www.nytimes.com/2002/01/25/business/mining-giant-set-to-depart-from-zambia.html
http://news.bbc.co.uk/1/hi/business/2205509.stm
http://www.sadocc.at/news2002/2002-019.shtml
We have not forgotten what Anglo did at KCM when they abandoned us. However, in a spirit of brotherliness and progress, we have engaged you. keep in mind that we have not forgotten.
Noooo!
When I leave a place I don’t look back; I get to a NEW place. When someone walks away from me, I never wait for them to get back; I REPLACE them. Enough said.
They are back after they pulled the plug and left its employees in the cold…..its a free for all buffet…our gov’t needs to wake up or else we will NEVER benefit from our national resources.
These Capitalist supremacists should never be allowed back into Zed. They quit Konkola when we needed them and ran to Chile where they are not doing well. Now that they have seen Copper industry is booming they are back Get lost bangwele
Why allowing these thieves and murderers back???? Please these guys should not be allowed back. They abused us in 2002. Please Mr Sata and PF chase these useless Agloamerican capitalists.
Peace and Prosperity to mother Zambia.
Capitalism in its extreme course only has two polar opposites…Remember Das Kapital you ba sakala that have been to school!
Boma!
Just grant them Prospecting licences, when they find something, Charge them equivalent to what we lost when they ditched us, when granting them the Mining license, other wise offer it to someone else!!!
“Revenge is a dish best served cold!!!”
WE CAN ONLY FORGIVE THEM WHEN THEY RETURN THE $2 BILLION THE POOR ZAMBIANS ARE STILL PAYING FOR.
Why should they be allowed to do bussiness with Zambia,are we so desperate..it seems like Zambia didnt learn a lesson.
welcome back anglo,we are tired of fake investors(Indians) who can’t contribute anything to the welfare of da miners…
Comment:all of u those that are commenting against Anglo are just trying to politicise issues all bcoz uve heard that HH is serving under its board, my. Brothers leave politicians alone & let those who are jobless get jobs from Anglo many of you that are commenting ure even retired ure just selfish people pliz just leave Anglo alone we need them more than vendanta, glencore & that one mine which doesn’t have hospitals but only a white mans child school.