The Small Scale Miners Association of Zambia has backed Government’s plan to acquire more shares in Mopani Copper Mines.
Mines Minister Richard Musukwa on Tuesday announced that ZCCM-IH has submitted an expression of interest to acquire additional shares in Mopani.
The Government through ZCCM-IH currently holds 10 % shares in Mopani, a firm owned by Swiss metal giant Glencore.
“We have always said that the Government should have more shares in mining companies for the people of Zambia to benefit more from minerals such as copper,” association spokesperson Samson Chimba Mpembwe said.
“The Government will have more authority in the running of mines when it has more shares. We believe that the Zambian Government is capable of running mines and enable the country to benefit more from its rich minerals,” Mr Mpembwe added.
Mopani has been threatening to place its Mufulira and Kitwe plants on care and maintenance – a temporary production halt during which a mine site is maintained.
How financially feasible is this given the debts government has contracted? Deluded dupes can dream on.
Mopani will end up like ZESCO. Full of unqualified cadres.
This is how do it. Patriotism is the way forward. Be proud to be part of a country where you are not discriminated against. Remember your friends in diaspora are shot by police for just being black. They are considered second class citizens over there so when you see them criticising us just know it’s the jealousy in them speaking. They cannot be allowed to own tracks of farmland there even though they have passports
This is how do it. Patriotism is the way forward. Be proud to be part of a country where you are not discriminated against. Remember your friends in diaspora are shot by police for just being black. They are considered second class citizens over there so when you see them criticising us just know it’s the jealousy in them speaking. They cannot be allowed to own tracks of farmland there even though they have passports for those nations that ran to
This is how do it. Patriotism is the way forward. Be proud to be part of a country where you are not discriminated against. Remember your friends in diaspora are shot by police for just being black. They are considered second class citizens over there so when you see them criticising us just know it’s the jealousy in them speaking. They cannot be allowed to own tracks of farmland there even though they have passports for those nations they ran to. Kz
This is how do it. Patriotism is the way forward. Be proud to be part of a country where you are not discriminated against. Remember your friends in diaspora are shot by police for just being black. They are considered second class citizens over there so when you see them criticising us just know it’s the jealousy in them speaking. They cannot be allowed to own tracks of farmland there even though they have passports for those nations they ran to. Kaizar the boss
@chichi: better you have your version of ZESCO where Zambians get well paid jobs and Zambians supply the mines not paying foreign machinery drivers huge sums and all procurement externalised. At the end of it all, mopani hasn’t declared a dividend since it set up and externalise all the copper sales.
I now understand why Dr Kaunda used to say ignorance is a disease, even now your government through ZCCM IH has shares in there but still a very sleeping partner. Nothing and absolutely nothing will change even if they acquired more shares. And what are they going to use to acquire those same shares, Chinese loans? Stop dreaming and start thinking of our 752 thousand square meters arable land please.
As if you have USD 1.7 Billion $1,700,000,000 minimum to pay for the additional 40% shareholding you are talking of buying from Glencore given Mopani’s valuation of over USD 4 Billion. Emalyashi yamu kachasu tulandapo aya.
Don’t throw good money after bad money. Mufulira mine started operating in 1930, a hundred years ago in 10 years time. All the best resource has been mined leaving nothing of substance. Mopani will be too glad to sale a mine that has come to its end. Zambia will never realize the money it will use to buy this mine.
Encourage them to shut the mine and surrender the mining license and you will get it for a song.
How does an outsider come n have 90 % shares in your own house? As a homeowner , 60% should be yours. Thanks