Saturday, June 22, 2024

NAVA Bharat to start revamping Maamba Coal mine

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Maamba Collieries (MCL) Chief Executive Officer has said NAVA Bharat ventures (NBV) will revive the operations of the company which had been grounded for many years and contribute to the development of the country.

MCL Chief Executive Officer Dipesh Dipu said in his first address to the miners at the company’s offices in Maamba Township that a thermal plant for generating power using coal would be built in less than three years.

Mr. Dipu said the Power project would be producing 300 mega watts of power and more associated local business would be supported.

“We need to look beyond the horizon and see the lives of people of our country being lit up by coal we produce and power we generate,” Mr Dipu said.

He told the miners that the power project would be the first of its kind in Zambia and a lot of people were expected to be visiting MCL.

Mr. Dipu disclosed that a new Coal Processing Plant (CPP) would be built to replace the old plant and the Rope Way will be worked on to improve the transportation of coal to Masuku.

“Mamba is going to change, we have to work hard to ensure that we are part of the history and benefit from the wealth we are going to create,” Mr Dipu said.

The MCl Chief Executive Officer said the new CPP would be environmentally friendly as less effluent would be discharged in the streams.

Mr. Dipu noted that the new CPP would be using less water and will have the mechanism to recycle the water which will be even safe for drinking.

He told the workers who have gone for more than five months without getting a salary that the company was working on a modality to find out how much they were owed so that they would be paid.

Mr. Dipu assured them that they would be paid their April salary before the end of this Friday.
On social responsibility, Mr Dipu explained that he would ensure that the profit the company will be making was ploughed back to the community in various sectors.

“Mamba is going to change, we have to work hard to ensure that we are part of the history and benefit from the wealth we are going to create,” Mr Dipu said.

Two weeks ago MCL was privatized to NAVA Bharat ventures which now owns 65 percent shares while government will have 35 percent.

MCL has been having serious operational problems as a result of having out dated equipment, liabilities, and lack of capital to revamp its operations.

NAVA Bharat Ventures’ taking over the operation of the mine has cheered the miners who have been facing financial problems to address basic needs for their families.

6 COMMENTS

  1. only 35 percent for gvt ??!!

    gvt has no money to raise its stake (to finance investments) ??!!

    Why gvt does not require foreign companies to give minorities interests to ZCCM… just owing for its stakes instead of keeping money

    So Zambia could invest… itself
    Interest of foreign companies is to leave ZCCM in agony, no money for developing zambia by zambian people

    eg Kansanshi
    the amount of minority interest (20% kansanshi) due to zccm is overtaking $300 million, but Kansanshi paid only 3 m$ in 2009

    and what does gvt??? Nothing…

  2. the same for Munali last month

    $300 million due to zccm
    $37 million invested by chineses to re-open Munali Nickel Mine (thus 80% of shares)

    a shame !! and RB was full of himself
    zambian assets were sold cutt-price to foreign companies whereas Zambians could develop it

    at best incompetence

    at worst…

  3. # 3 hot air… LOL LOL

    if you read the annual reports from First QUantum Minerals you can see on the table the total Minority interest for KANSANSHI MINING, If you take the total for the last 3 years.. The total is 310 M US$
    The MINORITY Interest is the benefit after amortization for the others shareholders in kansanshi mining..
    There is only one shareholder with first quantum minerals.. ZCCM-IH…
    In august, KANSANSHI Mining gave the first dividend to ZCCM-IH.. only 3 M US$…
    3 M US$ for 310 M US$ part for zccm-ih !! scandalous not else !
    In the same time, First Quantum Minerals rent this money (zccm-ih money) for 0%.. with this money FQM developp its business in others country… and zccm have no money to give to maamba colleries, Ndola lime,etc..

    in the same time…

  4. read also FQM – Conference Call Tuesday, August 11, 2009 page 13/14

    a question raised by an analyst at BNP Paribas in this conference on the debt of mine due to ZCCM-IH said that there was no discussion with the grz for the payment of this debt

    very very interesting…

    do not denigrate without knowing about this mess …!!!

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