File:Lunshya copper mines (LCM) one of the foreign owned mine
File:Lunshya copper mines (LCM) one of the foreign owned mine

The Chamber of Mines of Zambia says the increase in fuel pump prices will negatively affect the operating costs for mining firms around the country.

Chamber President, Jackson Sikamo observed that most mining firms around the country will be forced to put in place measures to mitigate the increment in fuel prices.

He however, noted that members of the Chamber of Mines of Zambia are yet to meet and discuss the fuel hike and implications it will have on mining operations.

Yesterday, the ERB announced a marginal increase in fuel pump prices necessitated by the depreciation of the Kwacha against the United States dollars.

Mr. Sikamo says the fuel increment by the Energy Regulation Board- ERB was unexpected.

[Read 22 times, 1 reads today]
Loading...

11 COMMENTS

  1. So there should be no movement in price of local fuel regardless of changes in international prices and volatility in the exchange market just because of the mines. The biggest mistake which will haunt government is listening too much to the owners of the mines thereby exposing us to a lot of uncertainties

    0

    0
    • I dont like the fact that the useless PF government has increased fuel prices because they can’t stabilize the Kwacha.

      But Chamber of Mines of Zambia, you complain too much and about everything. You complained about the increase in taxes and now you are crying over fuel prices?

      Mines in Zambia pay very little taxes, they use the profits they are making to pay for fuel……

      0

      0
    • Owners of mines have the prerogative to adjust their operating model in reaction to higher fuel prices to maintain profitability. They do not run these mines for charity but to earn a return on investment for their shareholders. Unless government have other investors (which they don’t) willing to run these mines the way government wants, existing mine owners will run these mines the way they see fit – to make money.

      It’s high time local Zambians started owning and running these mines. Too much perpetual dependency on foreign investors. This is the same mindset Kaminamisa Lungu has which is wrong

      0

      0
  2. But this is hypocrisy on the part of the Chamber of Mines mouth piece.
    My fellow ZAMBIANS let us recall that the reason the Kwacha lost value is because the Chamber of Mines members were withholding their dollars to fix Government for daring to raise mineral royalty taxes.

    0

    0
  3. when the govt removed fuel subsidies, the mines were sighted as the major beneficiaries of the subsidies.

    Reversal of the royalty tax – The mines this

    Increase in fuel – the mines that

    Lets stop over dependency on these mine. Copper is s diminishing resource. All these years the mines will be complaining and as the years are going, we will realize that the life span of these mines has elapsed and the investors will and go away and laugh at Zambia from a distance.

    What are you going to do! To hell with mines

    VOTE HH

    0

    0
  4. Atase these mines.everything oooo crying.we have useless zambians in this called cemba ya cemba mines.i don’t know if such pipo can save the interests of the country but their own interests of buiding lodges,houses and cars.What kind of pipo are these?

    0

    0
  5. When the weather changes, one needs to change clothing to suit it. Similarly, when the value of our kwacha drops, compared to the dollar, we need to adjust accordingly, for we don’t purchase these oils in kwacha.
    If others shall be using dollars as a national currency, it shall still be a Zambian dollar. Even America’s neibours are feeling pinch of the green buck against their currency. Even oil producing countries are “equally” worried.

    0

    0
  6. I wonder why in Zambia we like things that negatively affect the population this is a Government of lies for lies and which will lie for ever. What surprises me is that Zambians seem to like the lies what sort of people are we. Why are we as a people so in love with liars. Zambia you fuel has go up everything will go up where are you does anyone care about you. That the question which begs an answer its up to Zambia to answer.

    0

    0
  7. So the government must always dance to the Mines Kalindula all the time. Fuel subsidies are meant for vulnerable not this multinationals who make billions from which we get nothing as a country

    0

    0
  8. Useless mines can go hang. Before fuel was reduced from K10 to K6 these mines were operating at the K10 price with no complaint. For a year now this fuel price has been K6 which means the mines have made great savings for one year. How come they are complaining even when the price of fuel is raised by K1 to K7? Please GRZ, dont listen to these useless mine people…they dont mean well for Zambia. Shame on them.

    0

    0
  9. I think mines must stop behaving like little babies that are hand held all the time. When the price fuel went down they said nothing and didn’t even increase profitability. Where in the world are fuel prices stagnant? Not even in the oil producing countries themselves. I am personally fed up with the mines trying to hold us at ransom at every turn. They are acting irresponsibly. Do they have any good news in their vocabulary?

    0

    0

Comments are closed.