About 3,072 workers have lost their jobs in the country’s mining sector due to the global economic and financial crunch.
Mines and Minerals Development Minister Maxell Mwale says 345 workers were laid off at Bwana Mukubwa while 1,716 and 1,011 workers lost their jobs at Luanshya and Chambeshi respectively.
Presenting a ministerial statement on the global financial crisis on the mining sector, Mr. Mwale said the mining sector, which expanded considerably due to the prudent government policies and the high metal prices on the world market, faced a lot of challenges that resulted in job loss.
He cited the inadequate power supply, apprehension over the new fiscal regime and the global economic crunch as some of the challenges that resulted in job loss in the mining sector and low demand for mineral commodities.
Mr. Mwale said despite the various challenges, the sector recorded growth of 4.9 percent in 2008 as compared to 3.6 percent growth recorded in 2007.
He said the sector recorded growth mainly due to the increase in copper and cobalt production.
Mr. Mwale said copper production stood at 480,901 tonnes as at October 31, 2008 which represented an increase of 3.6 percent higher than the 462,083 tonnes produced in 2007 during the correspondence year.
He further said that exploration projects in the mining sector have also been severely affected as the projects have no revenue streams and that there are mainly dependent on the stock exchange and loans from Banks for financing.
ZANIS/TK/AM/ENDS
What a shame!
Again?
Nine Chale goes Numbala l-) and Jamaco goes Numbala :)>-
Awe its in the Family!!
I wonder if I will ever be #1 on this blog. Anyway #2.
Not Again! :((
You guys….ok nambala 6 or 7
Leon
Yalishupa! especially these days! naine yanivutila ku mozi!
GOD BLESS THE MINERS
Eish, #4. You guys. Anyway not bad.
This is a bad development to the country. I feel bad for miners and their families.
Nine Chale
Its not fair at all! You introduced a new manual in germanish, you think we dont know! Takwaba
Baby C, #7, its true. I hear you. I was actually lying for the new posting. The moment I refreshed my computer, there was 1 comment on the new posting. By the time I wrote mine and submitted, I was #4. Big up to Nine Chale.
Mayo ine! too bad now the copperbelt will have fewer green fields to graze from. We need to learn not to put all our ma eggs in one sector of the economy, Am welcoming all my jobless cousins to Sindamisale farms i got a patch you can grow herbs from. :((:((:((:((:((
Govt. help those miners not Zambian airways.
i can only say use the monies on investing in good business.
God will make a way where they seems to be no way
1,800 yet to go from KCM. Watch this page!!
This govt is simply incompetent. Economists know that the global recession is not wholly global per se, but it affects most acutely the leading banking sectors which had money in very “hollow” assets through bad loans. There is a very minimal impact on African markets where generally credit is not easily obtained, thus the assets are more “solid”. Govt can easily persuade willing Zambian banks using govt bonds as a cushion, to pump in money into the mines. Unfortunately govt is only crafty when stealing money. FYI West African countries are still making progress. This has just created a perfect excuse for or govt to blame their incompenetence on this global recession.
Agriculture is our only hope
The Minister’s conclusion that miners have lost their jobs due to global credit crunch is misleading in real “causal-effets” analysis.
Has he assessed all parameters such as falling copper prices, productivity of such workers to their respective companies, weakening Kwacha, Dollar strengthening….Needed to do a comprehensive analysis bwana.
Contd from # 17;
The recession is definite in the US where I am based. I’m a victim of taking a pay-cut, but things are never what they seem. This recession is a man made catastrophe. It has reduced the # of billionaires in the world, but has made the remaining ones even richer. Watch in the next 6 months how you will hear an individual made billions during the so called recession. Some people see opportunity in this whole scenario. And our govt is in a unique position to make sure mining goes on, and we shore up that copper to sell later @ high prices. Things always get a bit worse before they get better. Be optimistic!
I am beginning to doubt RB’s Economics degree.
They either become igogos or kaponyas and Maestro and Fine will start teasing and condenming them. too bad :o:o
it’s normal guys kukosafye pa street napo nga ulebomfya umutwe pala balancer.
But nga waupile i hule..mayo we, bakulakwafwa
Rupiah and his cronies are full of crap!!!!! so many peoeple have been affected with these jobs losses directly and indirectly. in our own country we are slaves,at a time like this I even miss mwanamwasa.
:((:-w
Awe mwandi. Kuti wanaka ukupela ama advice mwe!
Awe chabipa abasambashi aba batanfya inchito,hope they will get out of the whole financially stable :((
This in not a welcomed development because as things stand only a few people are tax payers. This means that PAYE which is already too high might go up if Mr Banda is to keep on enjoying being President.
[-x:-w its a shame
Baby C, Jamaco, Sarah Jones, Rashid Jones, Lusaka ,3RQU and the others not mentioned..
Big thanx from your big SIS for your support…
You know what I mean..
Iam currently on holiday in Hamilton Islands, one of the fantasy islands on earth..(with my lovely family of course).
Talk to you soon. :x@};-@};-@};-@};-:*:*:*
Hope this guys wont behave like the father(Miner) to my friend who after he got his retrenchment package quickly devorced his wife of thirty years,stopped drinking shake shake and started drinking amstel and took the daughters best friend as wife and went on to book a room at a famous hotel in kitwe for some months and before he knew what was happenig he was walking the streets of kitwe as a mad man though nobody knew for sure if he really got mad or was pretending to be one,out of guitness. :d
Cutey. I was wondering were you were. I have missed you so much. Enjoy your holiday.
Where are all those people on here who used to castigate the investment from China?………….. saying they paid poorly and treated workers bad.
Guys one thing u shud have observed is that the first ones to leave our mines are the investors from the WEST!!
What ever we say the Chinese and the Indians have their own way of making business sence even during lean times. These guys will be the last to close shop hence protect the few jobs that have remained.
Sata shud take note of the evens and think before he opens his ugly face.
Where is the oil???..was it all a lie????
:(:(:(
ba LT i meant to put crying icons but you printed out smiles.what’s so nice about miners being layed off?i feel for them.this crisis is touching everyone. :(:(:(
mushindo!
I feel pity for these miners and employees who decided to sink with the ship/boat…
Clever people swam aboard/ashore when they saw it coming..
Nizanu izo.
Lweni ulyo. :)>-[-x[-x
They have been there before and they will pull through again.
Kanshi ni shipikisha club….
“PATRIOTIC Front (PF) president Michael Sata yesterday challenged President Rupiah Banda to tell the nation what he had gone to do in Libya since he went without journalists from government-controlled media, including press aide Dickson Jere.”
ZAMBIANS NOW WILL START TO PAY FOR THE EIGHT TRACTORS FROM LIBYA. LI CROOK BA RB. HE DOESN’T TRUST EVEN HIS GOVT SPONSORED MEDIA. ZAMBIAN URANIUM HAS BEEN SOLD FOR EIGHT TRACTORS. WATCH OUT.
Sad development, the number is too big 3072. I cant remember the last time an employer in Zambia laid off such a big number at once.
#:-s#:-s too bad but what do we do now
my friend is part of this group, at least they have given him money for going back to school and about $10 000 for retirement
I think KK was thinking better than FTJ,coz ZCCM was function better as one body.LP tried to clean up the mess of FTJ on mines, but then comes RB to continue MMD-movement for mass distruction like FTJ.
Speaking recently to Mr Fred Bantu****e, it if felt that Mopani well have to retrench another 1 500 miners and KCM about 1 800, does
Mr Mwale know this ??? The Hon Minister is not paying attention to the intelligence information being leaked to him!!! WHY??? hE WAS WARNED ABOUT LUANSHYA 6 MONTHS AGO!!!
“Mopani will”…sorry
:”> efyo fyalefwaya fi MMD! “Theiving” and “Uleing” are NOW officially launched, to make the poor police too busy to even deal with corruption cases!
Go to scribd.com and check this report on Zambian mining
/doc/11038984/Copper-Industry-in-Zambia1
Interesting reading….so true today!!!!
NEWS FLASH …”ZCCM-IH TAKES CONTROL OF CLOSED LUANSHYA MINE BY JANUARY 31st”