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Copper prices tumble

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Copper prices hit a 9 month low yesterday after the US lawmakers rejected a $700 billion bank rescue plan aimed at stabilizing the U.S. financial system. The historic carnage on Wall Street reverberated across global stock markets.

Industrial metals ran into additional liquidation in after-hours trade on Monday after the proposed $700 billion financial rescue package was rejected by U.S.lawmakers.

Industrial metals were slammed following the decision.

“I think you’re seeing some heavy selling,long liquidation and some fresh fund selling in here,” said Michael Gross, futures analyst with Optionsellers.com in Tampa, Florida.

Copper for delivery in three months MCU3 on the London Metal Exchange closed down $335 at $6,440 per tonne. After-hours, the metal fell as low as $6,349.50, its lowest level since mid-December 2007.

Turmoil in financial markets has weighed on metal prices for months. Copper, used in construction, has fallen more than 25 percent from a record high of $8,940 on July 2.

“There is a global overall concern over economies and that’s translating into expectations of lower demand for a number of industrial materials, and copper happens to be the leader,” Gross said.

The dollar extended losses against the yen amid rising risk aversion as foreign exchange investors expressed concerns about further instability in the global banking system following bank bailouts in Europe and the United States.

Leon Westgate at Standard Bank said the market also was focusing on sluggish demand for metals from the United States and Europe, and said that, even if top copper consumer China was still doing relatively well, its future looked uncertain.

“It is now up to the Chinese, and it depends on how badly their economy has been impacted by this downturn,” he said.

201 COMMENTS

  1. if i remember well,some economist by the name of magande zed the “economic depression” in the u.s would not affect zed.there you have it now.and some pipo still want to entrust our economy with such pipo.even a kaponya on the streets knows that the u.s economy affects almost the entire world’s economies

  2. We don’t care with that price, infact zambins are not even befiting from these copper, last time the price of copper was 100% but who benefited from that? RB and Mulongoti will worry much not ordinary zambians who are not benefifiting,.

  3. #2 it surely doesnt. plan B should have been agriculture but unfortunately even Lpm who was a farmer neglected that sector. and with the anticipated continued rise in food prices…..katwishi.we dont want pipo dying of hunger pa zed ka

  4. Yes this is a matter concerning all of us. Much of the economic development and increased investments in mining is driven by the high copper prices. So if the prices continued to fall, then the bubble will burst and we shall see how the good magande policies will keep the economy strong and sustainable. Even the Levy legacy was premised on good copper prices and not just good policies. So Zambians, get concerned and pray that copper prices will rise again otherwise we are doomed.

  5. That is very true my brother Osama bin zed. After all these guys are just leaping our Copper and nothing is being done in return.

    Check how much they are paying their Local employees as compared to the so called expatrietes.

    very useless creatures.

  6. there is a great danger in running an economy thats reliant on one resource, especially minerals like copper. i think what we should do is quickly maximize our earnings from mining ( instead of letting out everything to the foreign investors )industry, use it to develop the agric sector for both traditional and not traditional exports, having ensured that there is food for everyone first, and
    then slow down on mining. we need to move quickly so that people stop working for food but to exploit there potentialities in science and technology,sport, art and other fields of interest.plz zambia lets move quickly and the policy makers are the major players in accelerating this agenda.

  7. We surely can go under as a country if we are not careful. I work in the Agric sector and can tell you that this government is not serious with agric. I will tell you that right now, the research section of the ministry of Agric has not been funded for this period upto December 2008. Now how do you expect the agric sector to perform well like this. RB, Magande and team are croocked chaps. They talk about agriculture but are not doing anything.

  8. we pipo keep on harping about what the foreigners are taking out blah blah blah if we are so clever why dont the govt start their own mines and lets see how profitable they can make them. its easy to sit out side the fence and ogle at the guys who are making it and creating employment for the majority. lets give credit where its due and not just try and rake in where we did not sow. by the way that copper has been there all along and if we knew where it was how come we didnt/couldnt exploit it ourselves. the answer my countrymen is with us!

  9. In the very unlikely event that Sata becomes president, can he surely tackle issues of global economies satisfactorily? I have no doubt that he can handle global comedy with a distinction.

  10. Even this fall in the price of copper, it is way above the budgeted selling price and cost price for all these mines. Thats why we are still seeing them qeueing to still come over. It si still very profitable. The price will surely rise again to higher levels. it is a slight knock yes. only the supper profit extenalisation (forex freight) by the mining companies will reduce.

  11. whats sata’s plan on agricluture? or is it the same kaponya style of running the economy on being igo-igos like we saw in FTJs time? (God forbid)

  12. You who are saying you dont care about copper prices falling you are mistaken.
    The economy of Zambia is largely dependent on copper and it affects everyone.
    Dont say you dony benefit, you benefit everyday. You remember the time the Dolar was K5,800 before in 2001 but now we have it around K3,500.
    Things would have been worse than they are if we had not revamped the copper mining business.
    What benefit do you want, you want to get a salary from the mines even when you dont work there?
    Or you cant understand the simplest economics that when the general economy performs well every body has indirect benefit from the all engine blocks of the economy?

  13. The drop in copper prices is just the start!!!!The day of cheap credit is over..we living in the west are already feeling the pinch..what effect do you think Zambia will feel in a years time???..as I have said before…hold onnnnn its going to be a rough ride!!!!

  14. I AM NOT SURPRISE TO SEE COPPER PRICES TUMBLING AT THIS TIME AROUND. OUR TRADING PARTNERS ARE AFRAID OF THE SO CALLED SATA WHO SEEMINGLY IS GAINING GROUND IN ZAMBIAN POLITICS. THERE ARE ALSO SIGNS OF INFLATION AND DEVALUATION OF ZAMBIAN KWACHA. COUNTRIES LIKE UK AND USA FEAR FOR ZAMBIA BECAUSE SATA IS JUST LIKE MUGABE. FELLOW ZAMBIANS, THINK TWICE ON THESE MATTERS THEY BORDER ON OUR WELFARE. VOTE WISELY: VOTE FOR HH AND THE UPND FOR ECONOMIC RECOVERY AND STABILITY. AS YOU DECIDE THINK OF OUR CHILDREN. VIVA HH VIVA HH

  15. You know its even difficult to understand these issues ubuchushi inga bwachilamo. You say we are benefiting but prices of commodities are going up everyday. We are eating once per day at 16:00 hrs. I’m sure some of you may not believe it but it is happening here in Zambia.

  16. That is why some of you think you can develop the country in 90 days by reducing tax.
    Reducing tax without telling us where you will get the money to run govt is backward thinking.
    We all want to develop our country and we are ready to pay enough tax to develop our country.
    What we need is an upward shift in the economy so that employers can pay descent wages so that after tax (whatever percentage) we can remain with enough in our pockets.
    What is the benefit of paying 15% tax on a K800,000 salary compared to a 35% tax on a K8,000,000 salary.
    Its better to have a descent salary and per a good tax and remain with money than to have meagre wage and pay reduced tax yet remain with nothing.

  17. ITS HIGH TIME GOVERNMENT STARTS FUNDING THE AGRICULTURE INDUSTRY WELL. ITS NOT A MATTER OF SUBDIZING FERTILISER ONLY BUT TO CME UP WITH ALTERNATIVE SOLUTIONS TO THIS SECTOR. I AGREE WITH No. 16,
    UPND HAS GOT THE GOOD POLICIES.

  18. #16 suntwe, what how ignorant! the price of copper is not determined by political situations in zambia. mind you big importers can halt imports to manipulate the prices though there are other factors at play in this particular case.

  19. First of all, no one should even dare mention Sata in positive light when it comes to the economy. Markets run on greed and speculation. If stakeholders/investors speculate that the political climate is unstable or incomptencies are spotted at senior level, they’ll invest their capital in other countries in droves so as to make a good return. Hence the devaluation of the kwacha at LPMs death. So, when you put a leader who doesnt know anything about how the laws of economics work, its surely a death-wish.
    On the issue of dwindling copper prices. The funny thing is, the people most bloggers demonise (China, India), are the ones keeping the economy buoyant. Diversification is the key, brethren

  20. Bo Suntwe # 16, like # 20 & 21 have said this has nothing to do with the current political situation but lack of foresight by the current Administration in Zed. The wise have said “make hay whilst the sun shines” and if the LPM led squad had diversified the so called copper profits to revitalise the Agric & Tourism sector then we would have at least hope. This is very dangerous for a run down economy like ours and only people with brains will keep us afloat.

  21. Here it has come! need an ecomomical mananager for president who can increase wealth at about 50% within 3years. Don’t pretend you know who.

  22. Sata as no proper polices on any issue apart from reducing Tax, selling houses to cops without telling us how this will be achieved.

  23. OOOHO OK….TO BAD,I HOP THE POOR PIPO WHO ARE SUFFERING 4 THIS INVESTERS WONT JUST BE WORKING 4 CLOSE TO NOTHING NOW,,,,CHABIJA 4 ZAMBIANS WHO ARE CONTRACTORS.

  24. Imwe Ba Sata will never understand such things like what causes inflation, expectations of lower demand,turmoil in financial markets,foreign exchange investment, etc. Even if he had the best brains in various ministries, he would just be a passenger when he is supposed to be the driver.

  25. when copper prices go down every zambian wories very dangerous for whole country to really on copper government should widen up so that we dont really on copper alone we have alot of land some of these investors should came in like white farmers in zimbabwe then will see our selves develop coz we dont do anything with land instead of bring copperinvestors to paye our workers low salaries

  26. HMMMM………….Pa Copperbelt brace ypurselves for hard times.Try Agriculture,problem you all want to work for the mines,after retirement,tou want to be a supplier @ the mines.Get another life away from copper.VIVA HH

  27. Who is the bigger terrorist, America or Al Qaeda? How many people has Al Qaeda killed? Probably countable. How many people has America killed since the invasion of Iraq? Uncountable. Count the number dead frm the invasion itself; the number dead frm the resulting high oil prices esp in the 3rd world; and the number tht will be affected as a result of the greed on wall street!!

  28. LETS TRY RB FOR PLOT ONE BUT HE SHOULD SMART WITH NO VJ
    VJ DECIDES WHO SHOULD BE PRESIDENT IN ZAMBIA NO DOUBT IF I WANNA TO BE PLOT ONE JUST HOLA VJ
    S

  29. copper prizes is controlled externally and no political interference is invoved. we don’t want this kind of stories ba LT naimwe.
    we need issues at hand like:
    RB WILL NOT WIN THESE ELECTIONS
    HIKAINDE WILL NEVER BE THE PRESIDENT
    NEVERS MUMBA IS NOT A PASTOR BUT A PESTER
    SATA IS DEFINATELY WINNING THESE COMING ELECTIONS.

    THIS IS WHAT WE WANT FOR THE WHILE.

  30. HH GO TO SOUTHERN PROVINCE SO THAT YOU CAN PRIVATISE YOUR PEOPLE
    PANTU YOU NEED TO GIVE YOUR HISTORY ON HOW YOU ACQUIRE YOUR RICHES

  31. 415 comments on RB’s marriage and only 42 on the fate of Zambia’s greatest asset! And when chinese investors take over our mines, you start complaining!

  32. Zed has no “economy”in the meaning of the word. Copper tried for Zed in the 70s & 80s when population was about 5 million. now the only work available in mines is for diggers, so the can extract the ore quickly to the west. how many pipo can you in employ in the process? Zed needs leaders that are capable of assisting create an “economy”. Such a leader must be both educated and exposed. my appeal to Zedians is that those abroad must be encouraged to come and make a contribution in their country. not leaders like SATA that say a Zambia who has lived abroad can not be President. Zambians, us abroad are working to develop these countries we live in. we have seen how different things are done.

  33. Lets be honest…..Economies are in turmoil..copper prices are hitting the bedrock,food prices, oil and gas prices are sky rocketing, inflation is rising,GDP shrinking….

    Anyone with eyes should see what type of Leadership we need…..Let the 3 presdoz give us their manifestos…..how they will tackle all these issues…….

    If it is true Sata has no farm……..how will he handle rising food prices since its globally accepted that Agriculture is the best alternative to frustartin copper mining.

    To be honest i have never head Sata talk about any policies regarding the economy,especially agriculture sector……

  34. Its starnge, most PF bloggers are in the other room where they are attacking Gen. Miyanda……they are shaning economic debates coz……they dont understand basic economics……

  35. HAKAINDE IS A GOOD MAN AND ACTUALLY, HE HAS SOME RELATIVES IN THE BIBLE WHO ARE THE CLAN OF HABAKKUK.

    VOTE FOR HIM BECAUSE HE HAS A LOT OF EXPERIENCE IN THE WRONG PRIVATISTION POLICY OF OUR COMPANIES.

    HE IS A WISE AND EDUCATED MAN WE NEED NOW BECAUSE WHEN HE STEALS NO ONE CAN TRACE HIM.

    WE NEED A MAN LIKE HIM BECAUSE HE LIKES NATURE. THE NATURE OF BEING A COWBOY.

    EVERYTHING TO HIM IS CATTLE, CATTLE, CATTLE. EVEN HIS PARTY SYMBOL REPRESENTS A SIZE OF A COW.

  36. Why can’t we set prices for our own copper?instead the buyers are the ones telling us the prices.Am looking forward to seeing african states pegging prices for their own resources.When we are buying items form Europe and America we just buy at prices they have set for their own benefit.People with Stock Market knowledge help me on this one.

  37. Let the prices continue tumbling down because ordinary people are not benefiting from high prices. Only politicians do benefit. Let prices continue tumbling down please

  38. Am a girl aged 21, an wanna vote.It appaers male folks are heartless, all they talk about is copper prices, copper what…….what about Lobola…My boyfriend cant even marry me coz my papa wants K9 million…..Now can someone explain to me how a good leader can help reduce this Lobola thing and perhaps rentals…….In Kabwata it too much…….

  39. If I’m not mistaken, the budgeted price of copper (I’m using simple terms here) should be around $4,100 per tonne. These investors are still raking in good cash even after the price has dwindled to $6,300. There’re still enjoying alot of windful income. We, the ordinary Zambians are not to worry in any way – we do not benefit from the windful income these chaps make.

  40. IWE #47 TOOL BOX YA TRACTOR, WHAT IS SO SPECIAL ABOUT COPPER PRICES DISCUSSION. DO YOU CONTROL THE PRICE.

    SATA WILL GIVE US A WAY ON HOW WE CAN BENEFIT MORE IN OUR COPPER

  41. If i vote for Sata what would happen will he also reduce Lobola, rentals just like the tax cuts he is joking about every day.

  42. #51 we’re discussing serious business here. That flag on your posting tells us you’re in USA not Kabwata. Please grow up for once and engange yourself in serious discussions.

  43. Provoker, you are not even a Zambian, misleading Zambians to vote for Cobra, what do you have against us. Are you from Zimbabwe or what.mayb you want us to end up like you……..twakana…..

  44. #16, Ba Suntwe tekanyeni!!! The failures of MMD are stinckingly pathetic! The technocrats form PF and even your own Professor Chirwa warned that the attractive copper prices the world was enjoying, Zambia in particular, were very temporal and hence the need to innovative strategise on how we could have invested from the spills. All the advice fell of thick hardened ears and instead MMD led Govt only spent on Prados. Commodity price is vey trick to sustain and that’s why clever economies reinvest their take in processed or finished goods. Even after copper prices pick up, not long from now, the MMD led Govt have no clue on economic policies. Viva SATA, development now!!!

  45. Forks it is not your president to diversify your economy. it is you as a citizen to do it. dont buy a taxi just coz your friend has one. if you want agriculture go buy a farm from a loan or kaloba and stop making noise to the govnt if it has already got policies allowing you to own a farm. LPM was presdo for about 6yrs and presided over an average economic growth of 6% “realistically good”. did you expect him to build you farms from that or did you expect a 100% growth in 6yrs? be serious!!! if you are educated and poor just know you are lezy ndiye mubweza chalo kumbuyo imwe.

  46. #1 I also remember that. Even on the issue world high food prices Magande said: “Zambians are not affected because rice and wheat are not their staple food. They eat sweet potatoes and cassava etc.”
    The price of copper when FTJ was president was about $ 2,000 and in LPM’s time it was US$ 8,000. That is why the latter appeared to have “revamped” the economy. The exchange rate improved not by his effort but LPM just benefited from the high copper prices.

    Funding to NGOs will equally be affected because the money comes from the USA and other developed countries whose economies have slumped.

  47. Provoker, listen to good advise from Toolbox 47 and go join your fellow cadres in the other room who do not understand basic economics. Now get this in your thick skull man,Privatisation was not HH’s policies but FTJ and his cronies in the name of Sata! HH was used as a consultant and he used his God given intelligence to make money out of that. I dont see how you could make funny of the bible…and for your own information, cattle is an investment that well to do countries like Botswana brag about while you make fun of it. Right now Its what constitutes of HH’s fifth of his wealth yet you are here speaking for a “Mugabe-in-the-making” without using your brains. Open up man!

  48. #51 briliant girl! Many may not see your sense but I do. We need a politician who will speak to the issues of the ordinarly Zambians tho not necesarily lobola. We dont need an aloof president like Mbeki but at the same time Zambia needs a president with some understanding of the world markets. As for you, sit yo papa down and tell hime you are not for sell! If he doesnt buy it, elope with your fiance.

  49. #58, Ba Engines, you are missing the point bwana. The 6% GDP growth you referring to, can the MMD Govt sustain it? An economically sound country is judged on its ability to stay afloat even in depression times. Here we are only talking copper, but Zambia is endowed with NUMEROUS resources which MMD has failed to bring fruition. LPM had a conviction as an individual and we have seen it was only him who held things not MMD. You have no morals. Zambians are not to suffer in this day and age at the hands of ignorant lazy so called leaders, twakana!!! Viva SATA, PAbwatOOOOOOOOOOOOOO.

  50. # 39 you seem to have a problem with HH’s wealth. All Zambians have a privilege to have wealth like Valentine Chitalu, Bwalya Chiti, Capt Austin Chewe etc etc. Please desist from trivalising serious issues like the low copper prices on the world market. Our economy might get on it’s knees and all tribes in Zed will be affected big time. I truly concur with # 47.

  51. Engine is not serious by saying if am poor its becoz am lezy…..if my papa was at plot 1 would i still be poor.its opportunities mwana….not that theoretic hardwork you talk about…….even HH could not have amassed tha 40 billion if he never spotted green grass at Grant thornton and Chiluba Govt who engaged him in the privatisation……

    dont cheap us with your hardwork……..and never cheat your children with your hard work theories….get real…….its who you know……..

  52. TRIBALISM: it looks like most people that speak Bemba and have Bemba names will surpot SATA. the Tonga counterparts will do the same with HH. The Easterners might as well do the same for RB. so the winner for this election will be the one who will take western province, northwestern, central and lusaka province. By the way SATA has never won lusaka province before what he won last time was lusaka district. LSK province covers luangwa, lufunsa, chongwe, chilanga and lsk west.

  53. Zambia doesn’t benefit from high copper prices..

    KCM does…!

    and one of the things that high copper prices do is just reduce the exchange rates..

    ..Then what…!?

    With a strong agricultural base, we had a chance of mitigating the rising food prices…! but like what you guys are saying, (that no one is even paying attention to it, then that becomes a problem for us!

  54. Its nice topic ba LT , not fya Buchende and dull pipo bakaponya wont even particpat. We need 2 look seriously on these 3 candidates , who can seriously handle the affairs of our economy in times of crises? Can da likes of Sata handle such cases ? By far, it time 2 swallow our pride and allow a capable person 2 lead us . Am a Bemba but i cant vote 4 Sata i have children 2 look afta . Shikulu SATA na Banda ‘re completely out of use in dis dynamic world economy.

  55. we need somebody amarter than us in state house sata maybe an appealing politician but has he got the iq to carry several ideas in his brain at any one time.vote HH for progress.

  56. About a year ago, a blogger here said it ‘make hay while the sun still shines’. It will be tough to develop our economy with falling copper prices. The good copper prices we’ve enjoyed for the past two years needed a paralel plan to ensure prosperity in the face of tumbling prices. It now seems the sun is about to go down on us. What do we do?

  57. Both in the long and short term copper prices are determined by the fundamentals of supply and demand or the number of buyers and sellers at a given time.
    A number of factors influence supply and demand such the expected amount of copper to be made available by mine producers and recyclers, the amount of world wide copper inventory on hand and the expected demand or buyers in the market. These buyers are both end users of copper metal and speculators.
    Copper prices have historically been both cyclical and volatile, trading within a range of U.S.$0.50-U.S.$1.60 per pound through the 1980s and 1990s followed by a period of higher prices from 2005 onwards.

    Don’t worry PF is there for you.

  58. Future Mwandi tell him, Engine lacks basic economics….why do you think i left the other room…….they are just quarelling with Gen Miyanda over his remarks…they lack seriousness.these guys.They fail to read the writtings on the wall.We are in an economic crisis even in the US, we cant put a danda head in plot 1 who will only be joking aboout the fall of lehmans brothers Inc….not realisaing he is shooting his foot. tell him mwandi………may be he is gonna listern

  59. Fellow Zambians, Let us vote wisely come 30th October 2008. We need someone who can put in place good incentives to promote Agriculture and Tourism as the only plan B to replace the souring copper prices on the stock markets

  60. well here it comes again…..queues for bread sugar and whatever queue you see join it rings a bell…good luck to the forth coming leader…..it does affect our economy pipo please!!!

  61. Future Mwandi tell him, Provoker lacks basic economics….why do you think i left the other room…….they are just quarelling with Gen Miyanda over his remarks…they lack seriousness.these guys.They fail to read the writtings on the wall.We are in an economic crisis even in the US, we cant put a danda head in plot 1 who will only be joking aboout the fall of lehmans brothers Inc….not realisaing he is shooting his foot. tell him mwandi………may be he is gonna listern

  62. #49, commodities are always sold on an auction basis(demand and supply)with no regard for costs of production because of the many producers. This is why you cannot sale a bag of maize if you decide on the price in isolation.

    On the otherhand, finished goods (TVs, cars) are sold to recover costs because of the few producers. How many car makers are there in the world, contrast this with copper producers. This is why you can sale a bag of mealie meal even if you decide on the price in isolation.

    The key for Zambia lies in adding value to the copper we extract frm the ground.

  63. pa bwato, we are fed up of zambian paper economics which pipo will not eat. it started with the penzas, kasondes and now in hands of magande. pipo will not feed on cooked up figures. cheap economics

    pabwatooooooooooooooooooo

  64. #62 BA FUTURE you have rightly pointed out that zambia is endowed with numerous resources. Now who is suppose to exploit these resources if not me and you when the MMD Govnt has already given you the citizen economic empowerment policy? sustaining the 6% growth, on what basis will SATA sustain that when he has never used the phrase economic growth in his entire life. please ba Future if you have identified any resources in this country please go and exploit them now before someone illitrate comes to comfuse the highly speculative knowledge based economic environment of our time.

  65. Rawalpindi,is the only person i think can make a good candidate for Zambia, he pays attention to some of our little adeas and he advises nicely…thumbs up brother….Cho Tonga Bull is too seroius with politics…….i wonder if he is married and has time for his wife….its not fair to sideline us females, let me remind him that its not only him affected by the slump in copper prices even me i am.

    So chot Tonga bull you better find yourself a life……stop being too serious with politics otherwise you will regret failing in marriage.

  66. after years of decline, Zambia’s copper mines are being revitalized, bringing new jobs and boosting the local economy. This time around, however, the government is determined to share the benefits more evenly, with a new tax structure for the industry. The upgraded mines will also incorporate technologies that limit their CO2 emissions and cut pollution. A more sustainable mining sector would bring huge benefits to Zambia – and it would certainly leave the country better off than when Levy Mwanawasa took up the Presidency six years ago if only we voted for a person with zeal, vision like an eagle and focused to work for his fellow zambians without stealing.
    Let us vote wisely

  67. Ba Sata can you comment about the unstable U.S. financial system? World leaders are all discussing this matter. I doubt if ba Sata has any tools of analysis to digest what is happening. The days of leaders who could just order for printing of more money is gone (Idi Amin and Mugabe). The hour is now for a world class leader in Zambia who will be able to woo investors with conviction of what they know from an academic environment (higher education) to practice in the real economy.

  68. Considerate Zee, your are a genious…. are you an economist or what.Man your explanations were simple and straight….Keep on man keeping it up.Thumbs up……..

  69. #49, copper prices are not set by the producers. its the buyers at the london metal xchange. you have to bid. and by the way it is possible for us to sell directly to china forexample, but we nolonger own the mines and have no bargaining power. we are too small but if we start believing in ourselves, develop a culture of self realization and actualization as a peopl
    e, soon our voice we ll be heard and listened to.

  70. #78 Ba Engines, What has the so called Citizen Economic Empowerment policy so far done to the vulnerable people of Zambia? Please tell us more about this policy and how one can access these funds? Otherwise such commissions are useless..!

  71. That guy, Provoker is a genious….what really makes him loose track sometimes….I think he combines politics with economics.Politics in Zambia favors tribe more than food on the table, while on the other hand economics bites cross all tribes.

    Provoker, dont loose your head you are a brilliant guy….dont get excisted with politics.

  72. Now, you guyz if what tool box is saying is right about BaTAta ba Sata having no farm…..with the ever crumbling copper prices are our children going to survive since he says the alternative is agriculture……..

  73. The hope is that the privatisation of the ZCCM and the other state owned mines and refining plants would result in the growth of the mining sector once more fuelling the engine of economic growth and development. The expansion of the copper industry will have a multiplier effect on the whole economy as the copper mines depend upon a whole range of ancillary services such as banking and insurance which will in turn grow. Will the boom times of the 1960s and early 1970s be repeated and more importantly be sustainable? Will the discipline and rigour of the free market ensure Zambia’s mining industry runs efficiently? If you can answer this then you know who to vote for wisely.

  74. Citizen Economic Empowerment policy my foot, you blogger which one of you ever received a cent from the CE fund, dont even talk about it it makes me sick….

  75. 52. Tonga Bull – UK,
    I have already seen that it will be difficult for you to understand the benefits of copper to our economy.
    I can assure you that, though tax has been low on mining companies, even if there was not tax at all on mining companies, there is still a benefit which comes to the economy, only that that would not be appropriate.
    So if you dont see benefit, I will try and help you to understand that mines are supported by many suppliers who employ many zambians.
    Also the workers in the mines get salaries, money which gets into the economic system.
    These monies are invested by these workers in various forms contributing to the economy. You want to be given hard cash?

  76. #65, Please note that in 2006 Mwanawasa won Northern Province with 161,000 against Sata who got 148,000 votes. Please don’t accuse us Bemba speaking people. Even Levy failed to acknowledge our vote for him.

    Even now RB will win Northern with an even bigger vote. But RB will acknowledge our vote for him.

    We Northerners are generous. We even gave HH a decent vote.

  77. PROVOKER , what about the party symbol for PF? ikofi. No wonder PF is a party for kaponyas, you will always find them displaying their symbol by fighting on the street. You people will regret when you put Sata as president. PF = poor finishing

  78. #86 Ba Small,allow me to talk about the policy and then the commission later. The importance of this policy is that it allows you to work and at the the sametime conduct a private business of whatever size without any victimisation from your employer or state as it use to be in UNIP.i.e you can borrow money from a Bank or Govnt institution like CEEC and invest that money in shares on LUSE even in a company that you work 4 or if you work for a mine you can form a company suppling equipment to that same mine provided you are registerd and have declared interest.to access money from CEEC you must have a good bussness proposal or an approved order if you have a ka small company.

  79. After all these years of independence we still fail to produce our own investors to build our industry. Not even a single mine. Agriculture; maybe just one Zambian commercial farmer. Now there’s a possibility of oil in NW province .Everyone thinks its a big joke. All we will do is wait for shell and other foreign investors to dig our oil and collect our profits, while we complain about slave conditions of labor. Completely no Zambian initiative by Zambians, really sad. whats wrong with us?

  80. Does any one know if the Chinese pass the copper they are mining from Zambia and Congo DR passes through the London Metal Exchange? If they don’t then who determines the price at which they sell copper to other companies?

  81. I know Toolbox, last week he was suppoting R.B because he comes from Eastern……..why is lecturing us on politics and economics.

  82. I have my doubts on the so called free market econopmies when the US is employing financial socailism.The double standard played by the US is not helping….This is more like rewarding Greed at the expence of Taxpayers…….

    This is a parent advising his son not to sleep on the couch, minutes later the son finds him sleeping in the same couch.

    Now what is that…….Provoker do you confidence on the same free market theory.

  83. Am not comfortable with “Pabwato” slogan.Am not Bemba and i dont even know what that means.Maybe you are insulting why should i follow the crowd in insulting …….expalin to me what it means in Chewa mum’s language and Tonga Dads language…..Let me suggest on your posters in Sothern Province to read”Mu Mbwato” whoooooooo i wonder if Tonga will like that……Just use English a neutral language………

  84. for real this will affect our country,s economy and matter fact the global economy will be affected…..just yesterday alone the stock markets lost over $1 trillion imagine just yesterday what bout more days to come….this is really depressing….thats what happens if you gat leaders who put their interest b4 the country’s. if congress don’t act the situation shall get worse…this will deeply hurt our economy.Tip “leaders lets learn to put our nation first”. hats out & peace am out

  85. Last week i met a group of workers saying …uuhh we are scared of voting for Sata, they said R.B was better off becasue atleast he looks gentle no the fist PF is always showing…….

    I think pipo are just being unreasonable…….PF deserves a chance like all other parties.

  86. This is what you get when you entrust the affairs of a country in the hands of incompetent people. Whe Bush took over the white house, he had no agenda, so had to make up a war in iraq. Fighting that war, he and his cronnies forgot to regulate wallstreet.., oh wait, they didn’t forget, they let their special interest wallstreet insiders write their economic policy which sidelined regulatory frameworks because they knew it was the only way they were going to reward themelves with golden parachutes. Now, the global economy is in a mess. LESSONS FOR ZAMBIA: Magande proclaimed a few montha ago that we were not going to be affected by this crisis, RB is a 20th centuary economist, Sata is…cnt…

  87. #97 tool box, I have partial confidence in the free market and the free price system which make goods from around the world available to consumers. The free market also gives the largest possible scope to entrepreneurs, who risk capital to allocate resources so as to satisfy the future desires of the mass of consumers as efficiently as possible. Saving and investment can then develop capital goods and increase the productivity and wages of workers, thereby increasing their standard of living. The free competitive market also rewards and stimulates technological innovation that allows the innovator to get a head start in satisfying consumer wants in new and creative ways.

  88. Chi Tonga Bull, where is he…..let him propose to me if he has no girl friend……i wonder if he will do coz he is too serious with politics….

  89. Ala kwena tu technolgy natunjikata…internet nai bowoka zoona.ALL THE KAPONYAS ARE NOW BLOGERS….ala tulefwa kunsele nomba.
    TOMATO TOMATO BALUNDA, ONION NAYO YADULA, INSHONKONONO NASHO SHALUBA, CHISENSE PEFYE NAKALEMBULA,COPPER NAYO BATYOLA MUTENGO,
    SENDA ZALI MUKABINI..LUNGAMA PA KONA PA KA SIDO USALEPO CHISENSE IYANONA..IYAMABWE YENA TEKWESHA.TANGA TASHAKUMANE UBWELEKO FYE TWALIBELELA BWALACHA,,,NAMAILO FIKAISOVA

  90. Hee..! ichinekele…hee.I think the copper prices are affected by political bribes.!! we are finished .! cattle died of denkete : maize flooded.there is nothing to lean on for NOW….!

  91. practical but lack the understanding of real economic fundamentals. I don’t know much about HH. Point is, today’s sophistiaced global economic management requires sound and forward thinking 21st centuary leaders, so if we allow RB and his MMD vultures to continure rulling Zambia, we can forget about ever improving our economy. Vote wisely on the 30th of October even though I know we are in a tough spot considering the fact that none of the running candidates has convincing credentials to help our country achieve meaningful and sustainable development.

  92. Can someone explain to Bemuda what a free market is…….ok let me try…Go to chibolya market.take your goats for sale.The way you will arive at the price is how the market forces operate…anyway let somewone break it in simple terms….

    Bemuda, just like his name looks dull and unreasonable in his arguments

  93. LIPSTICK NEIWE PROSTITUTION TALKING PANSAKA MAWANU, WE ARE TALKING MATTERS OF THE ECONOMIC FUTURE IWEE ULELANDA AMA LOVE NAUPENA?

  94. TOMATO TOMATO BALUNDA ONION NAYO YADULA,INSHONKONO NASHO SHAFULA,CHISENSE PEFYE NAKALEMBULA,COOPER NAYO BALEKUNGWISHA NOMBA,
    BY ONE TON GET ONE TON FREE

  95. Kalipstick, no wonder it will take time to have a woman president……all you tyhink of is Lipstick,romance…..grow up like what Tonga Bull guy was saying………you are disturbing the flow of economic issues…..

    All you think of is salt, sada,milk…look we have serious issues than those …….you irritate me…

  96. Your father is very expensive becoz yu are in a developed country. Sale him about me i try by all mins to negotiate. maybe i will win you. and tell me if your fiance fails. am serious ka.

  97. TOOLBOX WHAT FREE MARKET ECONOMY ARE TALKING ABOUT KANSHI? BEMUDA KNOWS WHAT HE IS SAYING. TOOLBOX AMANO CHIMOCHINEFYE NA RB VERY DULL

  98. Ine ninkota I have told you, vote for HH umwaiche, he understands economics better. He’ll give me a job as local Govt minister so that I can stop people from urinating in the street.

  99. Its even Zambians’ concern that the copper price has hit its lowest. But at this time our bigest worry should be the fact that our mining icon, KCM is sinking to its deepest levels of excavation. Come 2012 the ore deposits will have been exhusted. Its sad to see some presidentail hopefulls ordering kcm to pay off its debts when it is currently operating at 30%, the development at Konkola deep, which is to be the hope for KCM is a sad story. The rate of development is too much below target.
    So why worry about the price when we are not producing?

    Wake up zambia.

  100. There is still life in this country, we dont need old pipo to rut out the little resources remaining for our children. pliz guys RB and Sata just want to retire from the state house. put the young man frends.

  101. Bwalya-Mpika…….you better shift to lsk first before i give you my answer,Tariq Aziz first you better deposit that K 8m in my Acc beofre negotiations with dad…i need security first…..buy me NADIA, then we can talk.

  102. #16 Suntwe you lie through your nose, is it Sata who caused the Gaint American mortgage Banks to Tumble? which TV Channel do you watch? TBN??? watch BBC and hear for yourself, the world economics has just gone grazy, Stock trading has been stopped in many countries who caused it SATA? read the post and be informed. not just lusaka times iwe SUNTWE.

  103. Pliz help i need these books ASAP!

    ——————————————————————————–
    ‘Do not rejoice at my grief, for when mine is old, yours will be new’ please good people I need these books I am writing a thesis
    Good people, I need very urgent help. I am looking for the following books.
    If by any chance you have a copy please help me. 1. INTRODUCTION TO FUEL CRISIS by George Mpombo
    2. NO SALARY INCREMENTS By Ng’andwe Magande
    3. WINTER MAIZE CULTIVATION: A CASE STUDY.by Mundiya Sikatana
    7. AFRICAN LAPTOP : A CASE STUDY By Katele Kalumba
    8. PROFESSIONAL RIGGING By VJ Mwaanga
    9. A GUIDE TO BOOT LICKING By Mwape Katoloshi
    10. STATE HOUSE DI

  104. # 137 i have a silver NADIA CD/DVD PLAYER waiting for you and US$ 6000 as lobola and 30 cows as Top Up , what do you think and think fast before am taken by other women.

  105. Lipstick, if you are not a lesbian then you are one of those frustrated nuns who cant find a man for themselves.You belong to the ancient world, so you deserve forgiveness. HH is a serious man who has no time to sobela with thirsty people like you.

  106. Provoker,you say you gut confidence in the failed capitalism, was it wise for the US to bail greedy Executive at the expense of taxpayers money.American has sidelined countries like China, Cuba and other because of lack of capitalistic policies,yet in the evening they go to bed with the same policies.

    what is your comment provoker.

  107. Provoker,you say you gut confidence in the failed capitalism, was it wise for the US to bail out greedy Wall street Executive at the expense of taxpayers money.American has sidelined countries like China, Cuba and other because of lack of capitalistic policies,yet in the evening they go to bed with the same policies.

    what is your comment provoker.

  108. Am out of your politics Tonga Bull, hey guyz who will link me to Hakainde………i want him to share that 40 Billion with me…I need his cell No…….his plot No……….where he goes for Lunch etc….If he refuses i will ask Cozmo for the no…….to blablablah…….for a K15m.

    Honestly guyz who can refuse that cash………….You guyz are good at talk talk talk…….be like HH the guy is smart……..thats why i need him……may be i can also be stinking rich………..

  109. Tariq are you serious…….with me…wow,dont be misled by those seriousfor nothing guyz like Tonga Bull, who serve and eat politics. Mwandi take time off with me at Manda Hill or Arcades………..Am a decent beautiful girl.

    I enjoy politics but i dont take it personal like Tonga Bull, i go out on weekends with my frend Bether from one of the Banks.though am in Business selling mens shoes and suits.

    Instead of getting orders from me, these guyz are bizzie with who goes to plot 1,who uses gvt fuel,who distributes sugar,blahblablah…….

    Economic is not about talk,its about making monie, giving business to your struggling friends,creating Jobs….All i get is Tribalism,sugar, rigin

  110. There you go, the stock markets not doing so good in the UK and US. Big investors in these countries are looking to China as their only hope. Even before the credit crunch, big economies like the UK, US, Canada have always wanted to do business with China. And for Zambia, who are we to say we don’t need Chinese investors? The best thing to do would be to revise the terms and conditions of the contracts we sign with Chinese people, in favour of Zambians. Let’s vote wisely.

  111. Heart Break,let me tell you.Am not cheap,i drive a Corolla AE 110,though its cheap,but atleast i earned monie i used to buy it.Two weeks am out of the country, going round the world getting supplies to feed my sisters and brothers,take them to school,pay rent,Bills then today you tell me am a frustrated nun…….guyz if your candidate is failing dont take it out on me…….

    If you have recieved Bribes to insult me, go ahead and regret…..When you talk about economy you sound simple and interesting,but what have you done to your immediate family, your kids,parents and friends in Business………you are the same people who fail to pay our supplies so that we are cash strap

  112. The trouble is all of you armchair critics are in the diaspora, no wonder you are so out of touch with reality. Viva PF, viva father Sata, the only progressive messiah at home!!!

  113. Call me whatever, atleast am proud of what i have done,I studied NATECH but found no Jobs,I went into Business whaen i make not less than K4m per month………..

    Today you call me whore, guy you have not hearts…….Instead of giving your fellow zambian business to avoid all those bad vices, all you do is call me names…You see us ask for orders,you are the same guyz refusing to buy…OSAMA just hide in the carves before R.B hands u to Bush……..

  114. President Bush is still fighting hard for the US House of Representatives to vote in favour of a $700bn (£380bn) plan aimed at bailing out Wall Street. He knows if this is not done the consequences will be those undesirable. The falling of copper prices has been linked with what happened yesterday in the House of Representatives. The important question is, “who is our major customer of copper?” Instead of making the situation go from bad to worse, the people we elect as our next leaders should be able to sit down and revise the T&C’s of the contracts we have signed with the Chinese, in favour of the Zambian people. We need to bear in mind that foreign investors will always be foreign invest

  115. We need to bear in mind that foreign investors will always be foreign investors and if you chase one from the country, investor confidence will be lost. Sometimes the devil you know is better than an angel you have never seen!

  116. Those against me arrying a rich guy are either lezzy poor fellows with PHDs in jealous.anyone should be allowed to go out with anyone they choose.

  117. Tariq, am settle with you, not tonga Bull becoz we can be quarrelling over who supports who………

    Lets just fly to Bagdad…..and leave those fake copper prices……which are always falling.even when they pick up who knows who eats the surpus monies……….

  118. Lipstick you can use this site to your advantage an post adverts instead you know. Kumalonda yea am always in addiss ababa coz for some reason am lucky enuff to always pick up either your wife or sister. Damn those whore know how to do their thing.bamanipasa yazoona

  119. elo lwanya nombo bangwele with levy no more they will be stealing goverment money and blame it on copper prices.watch those criminals sorrounding RB.

  120. More money in our pockets” its PF with its old retired Chitalu Sampa and Sata.All the reserves in our
    Central Bank iam scared will record zero returns.

  121. Lipstick am not angry with you,am sorry who knows tomorrow you gonna be my client, buying all my supplies.

    Guyz lets buy Zambian and build Zambian, when i make it its not just me,but my family,my neighbours,my church,my community,my country finally your GDP will increase rather tahn shrink.

  122. “More money in you pocket” my foot…….i would rather believe HH than Sata becoz HH has money to back his words.Sata failed to even buy a farm……..how can serious zambians with five senses believe such lies…….I was for Sata now i have changed…am tired of lies.

  123. IMO we do have a plan B. Zambia is diversifying and not only concentrating on copper mining as the sole economic activity. If only the most important stakeholders could realize this.. the Zambians. Anywhoo, my 2 cents.

  124. # 22 e.j, you talked of people demonising China and India. Yes we demonise them when they come in and mistreat our very own Zambian citizens and flood our markets with low quality goods. We do however appreciate their role as major copper consumers. If we could have a situation where the Chinks are buying our copper en masse and not supplying us with contaminated milk, we would all be happy. NO TO SLAVE-LIKE WORKING CONDITIONS FOR ZAMBIANS, NEO-COLONIALISM, AND ECONOMIC MISMANAGEMENT. YES TO ZAMBIANS SHAPING THEIR OWN DESTINY AND BEING IN CONTROL OF HER RESOURCES.

    Pabwato!

  125. Iwe ka OSAMA BIN ZED am HIV positive so is my wife. you picked her and she infected you coze unadya live she told me.

  126. Pf you are disapointing me, I went to Chipata no poster for Sata, My Grand ma in Nothern told me no poster…….i guess even in Western southern and NW its the same………..yet in Lusaka you gut plenty.Am dissapointed, dont even cry foul when you loose, its your fault.

  127. Mossad, They are the same guyz taking Zambia backward……..jealousi…jealousi.Am sick of such fake economists like Mossad……..he is like those Wall Street Executives with fat wallets……sinking companies down…..in the evening asking for a bailout….Am atleast proud of being a woman worth my salt……..

    If you Live in Kabulonga,just go to Arcades shop shop.you are always out of realities.When we cry no food you you have K400,000 lying idle in you Banks…..what can you tell me Mossad……Have you ever slept hungry..he dooes even know Katapa, Kalembula……..just shut up………I get sick at pipo like you selfish……..

  128. Am supporting pf but like # 174 said we dnt have any posters here at Ibenga and Masaiti PF wake up please. wait for 2016 you will see how i will campaign. VIVA KAVENDELE VIVA Northwestern Rails

  129. Mossad ‘s K400m cash at Stanbic is driving him crazy,he thinks all are as rich as him……….Yes you studied far than most of us,but that does not make you look down on your friends………

    Everyday you have food, you drive fancy cars…….have you ever walked on foot from Kabwata to Kanyama to just buy cheap fresh fish for your brothers and sisters,do you even pays any Bills or rentals.This guy doenst even know the bus fare from Woodlands to town……..He is fat and always found at the jim trying to reduce weight.At Acrades weekend he is bowling……You think we dont want that also………..

    If your Parents were rich and afforded to pay schools fees, ours were poor.

  130. #82 considerate zambian. You talk of us adding value to our copper. Read a bit more on the copper mining industry, you would understand that countries like japan prefer to buy concentrate as opposed to copper bars, to protect their own refineries [smelters].

    Considering that Zambia is landlocked with a poor rail network, whatever finished copper products we produce would be uncompetitive on the international market, as the trasnport cost would be too great. Raising capital is also rather difficult in the current Zambian stock market, as it is still in its infancy. The high cost of borrowing further discourages local investors from setting up factories or even new mines.

  131. PF you thought i was joking…KV has just confirmed at Ibenga, No posters….why give bus drivers and conductors posterds and IDs.These guyz are not a benefit now…….look at thyem they are busy making their cashing instead of campaining.Who cares if they Honk, what we want PF to do is get serious……..HH will even beat us this year if we are not serious……..dont depend on post ,QF force ZNBC if u can,buy space let Zambia hear us on our policies.That tool box talked about Agriculature,put bloggers also to explain on policies on Agriculture..,pls pls

  132. When Mossad is sick, he goes to private hospitals, Mwana am hate by you Mossad, I expect all the guys to denounce this rich Economist Mossad, who is out of reality with his K400m cash at the Bank……..

  133. This time no lies….PF, How do you explain your friendship with MAthani,your credit with China Hinan…..Look guyz tells chase Indians and Chinese, yet in the night goes to bed with them over pieces of silva…..my foot….this Cobra lack the Judgement to lead just like Obama puts it………

  134. # 181 i second, if we are not lucky HH will win. am told sata will be at Mpongwe 2 moro( just been told no adverts ) i think we have run out of cash.

  135. My late mum, a private sector Economic consultant…….once told me when i was young that son…..the stock market has ears, what ever people say on the street will affect tha share prices…….I think the fall in LUSE’s stock prices is as a result of PF’s outbursts together with his Leutenant Fred post……

    They dont care how their word will fare at LUSE,Lubinda and Scott tame the Cobra, if you are scared ask Officer Mulongoti’s strategy over postnewpaper after R.B wins.

  136. PF,PF we will end up laughing at ourselves,Look KV has also confirmed inMpongwe No posters, if its moni tell us we will donate…ma K1m,one mtre……..Am not happy we are running out of time….

  137. reports in the media that one nominated mulngoti will sort out the post newspapers worrying. he shud not take us to the colonial days.instead he mulongoti should be sorted out.

    sir va

  138. Unless you live in cook land, the world economic order is not good and every one will feel the pinch. Even my grandmother who just lives on mushroom handpicked from the bush will also be affected. Don’t fool yourselves just vote for an intelligent man to manage our economy prudently and stop wasting money on big GXs at govt expense . Get back to the green reform and use your ox drawn carts as they are environmentally friendly. Mwapya osanamana bodza. Uno mwaka kulibe zabwino; no wonder LPM died because he worried about the country too much. Manje Sata – Smoke; Smoke; smoke and drink; drink – it will be animal farm nikuudzeniko – heard his canpaign song -tribalism at its best.

  139. Thanks to downward copper price trend. Stop the digging. We dont have Leaders to put the house in place for the Copper Good prices to be translated into development. We leave the Copper for our inteligent childrens. Probaly they will have a good leader.

  140. Magande’s fake reputation has been riding on rising world copper prices which he has no control over. Well, this down-turn will give him a chance to prove his worth.

    The 100 million US dollars investment (and this being only in the first phase) Indian investors are prepared to invest in North Western province would indicate that the cycle is still in the progressive phase despite a fairly big glitch in copper prices.

  141. its about time these prices came down. things were getting out of hand. now we will see who the real investors are. only genuine ones will remain.

  142. Yah, let recsession hit. prices in Zambia are too high. When the common man has no cash for anything else but food, may be prices of air tickets, houses and cell calls will be cheaper.
    At the moment it is cheaper for me to buy a house in spain. It is cheaper for me to holiday in south amarica or spain, morroco or eygpt.

  143. Tonga brothers and sisters I ask to be forgiven by all of you .In my contribution to make Zambia a better place for all of us,I could have offended a good number of our brothers and sisters from Southern Province.I hereby say I had no ill intentions nor do I habour hatred against you guyz.We are one under Gods s eyes.My heart is filled with love.

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