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Monday, September 28, 2020

We’ll repossess Munali Nickle Mine- Yaluma

Economy We’ll repossess Munali Nickle Mine- Yaluma

Mines, Energy and Water Development Minister Christopher Yaluma (right) and his Deputy George Zulu (centre) inspect the Lusaka fuel storage depot with Lusaka Province Minister Obvious Mwaliteta before commissioning of the plant
Mines, Energy and Water Development Minister Christopher Yaluma
(right) and his Deputy George Zulu (centre) inspect the Lusaka fuel
storage depot with Lusaka Province Minister Obvious Mwaliteta before
commissioning of the plant

Government has threatened to repossess Munali Nickel Mine if its new owner keeps delaying to reopen the mine

Mines minister Christopher Yaluma says the government has written to the new owner Consolidated Nickel Mining and Investments Limited of Britain regarding the issue.

Mr Yaluma was speaking in an interview with ZNBC’s Bright Mukwasa in Perth Australia after touring Ravensthorpe Nickel Operations .

The Minister said Jinchuan of China, the previous owner entered into an agreement with the British firm whose date to reopen the mine has elapsed.

Operations at Munali which is Zambia’s sole nickel mine were paralysed in 2011 due to the plummeting base metal prices on the global market.

The mine was previously run by Albidon Limited of Australia.

3 COMMENTS

  1. The government has failed to run ZESCO, ZR and NCZ as profitable business corporations to mention few corp. How will they manage a Nickle Mine? Does Christopher understand why the new owners have not started operating the mines?

    • Do you REALLY expect Christopher to understand mining operations? His knowledge its limited to sharing proceeds of bonds issue or to getting substandard supplies at inflated prices and not to the reality of doing any legitimate business.

  2. base metal prices have fallen and will continue to plummet until we have considerable growth in china which can hopefully increase demand in base metals. its not going to be an easy fix as it may take a year to realise the benefit of devalued yuan. if the US also devalue their currency, then we r doomed forever and the only way out is to diversify the economy. its still not going to be easy coz the coffers are dry and expected to be worse next year.

Comments are closed.

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