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Alba Iulia
Monday, November 28, 2022

Chinese-owned mine closed in Zambia amid plunging prices

Videos and Audios Chinese-owned mine closed in Zambia amid plunging prices


  1. Come on President Lungu,
    Repossess the mine.
    I know of 10 good Madalas who can restore profitability to Baluba mine. Guys who would cherish being back in work and mentor the younger graduates. Guys who can think on their feet. One is an expat, married to a Zambian lady. We cannot let our MINING HERITAGE be destroyed! Please, please, think of it?

    • Running a mine is not like running a small shop…where would you get such credit to run your mine..the likes of FQM have to go on the market to obtain billions of dollars to finance those projects. Who has such credit worthiness in Zambia…let’s be realistic.

    • Good idea worth considering. It is high time we moved away from the idea that only foreign nationals can run things or source mega funding to run anything in our country. This has stifled entrepreneurship and initiative and led to this rot of being at the whim of multinationals. Countries like Germany (and indeed the US of A) have found success by encouraging and supporting small business who in the majority of the German case comprises family units running business endeavors. Let’s give chance a chance.

  2. Maybe Kambwili will wake up into reality of the inevitable collapse of the economy perpetrated by poor management by the leadership of this country. Yes you cant fight nature but you can prepare for calamities. Kambwili remember Joseph’s story in Egypt?

  3. JJ we will approach international lenders, with a robust business plan.
    My mentor, operating out of Paris, is a mining engineer who has been brokering such deals since 2013 for projects in:
    Cote d’Ivoire, and
    Mali last month
    Surely, Zambia is more investor friendly than those countries. This is coupled with our mineral reserves and skilled labour. Shame that POWER DEFICIT HAS PUT A DAMPER ON OUT INVESTOR CLIMATE!

    • JJ that is perfect, we can do it, we can also use PPP concept. This is the best opportunity for Zambia, if we miss we will subject our children of children to poverty. See my post as well. Thanks.

  4. Zambian mines were privatized when the copper prises were extremely low, I think this could be the best time for Zambia, as well, to get back the mines,and start all over again for new negotiations that will benefit the people with new investors or with old ones if they are will to renegotiate. Currently mines are operating using old negotiated agreements which gives them everything except for small royalties and taxes for Zambia. What we need to know is that, copper prices will go up again because it is the only mineral that has been discovered to have multiple uses, eg in auto industry, construction, aviation, marine, just to mention a few. Zambia should not apply myopic decisions as if the country is closing tomorrow, but let’s apply sustainable decisions.This slump in prices should…

  5. Not reply but continuation of my post……the current copper low prices should treated as the beginning of the new upswing in prices, in the near future. Alternatively let’s take this debate to Zambians especially to those who have suffered negatively at the hands of mines as a result of pollution, environmental destruction, fake social initiatives, etc to have say and thereafter make sustainable decisions regarding our God given resources.

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