Speaking to journalists after he toured the synclinorium shaft and Mindola deep projects in Kitwe yesterday, Mr Kambwili said MCM would not have invested colossal sums of money into the Zambian economy if they had no confidence in it.
“As Government, we are excited and we want to thank MCM for injecting so much money into our economy. This simply shows that Government has provided an enabling environment for the private sector to flourish and on our part as Government, we will give you all the support because we have seen that you mean well,” Mr Kambwili said.
He said opposition political party leaders busy telling people that investors have lost confidence in the Zambian economy should think again because the massive investments by MCM, for example, are a sign of confidence.
Mr Kambwili said all hope is not lost for the mining sector and that with expansion projects such as the ones MCM had embarked on, he is confident that most, if not all, of the retrenched miners may be recalled for work once the new projects begin producing at full capacity.
“Some people think the future is bleak but I have every hope that things will get better. MCM has taken time to inject in a lot of money into expansion projects despite the low copper prices and this is how it should be. Mining companies should be forward-looking,” he said.
Mr Kambwili urged other mining companies to emulate MCM by investing into the future.
He said copper mining is important to Zambia’s economy as evidenced by Cabinet’s approval of a sliding mineral royalty tax that would be based on prevailing copper prices.
Mr Kambwili hopes mining companies will reciprocate Government’s approval of a sliding mineral royalty tax by avoiding retrenchments in times of low copper prices.
MCM chief productivity and efficiency officer Barry Hodgkinson said the expanded shafts will enable deeper mining at an efficient cost.
He said the mining company had invested a lot into technology, especially at their training centre in Mufulira, to allow students to learn practical mining skills without necessarily going underground.
Mr Hodgkinson said 3D technology is being used.
Mine manager in charge of the South Ore Body, synclinorium shaft and open pit Jonathan Sikana said the synclinorium shaft has been sunk to extend the life of the mine by another 25 years.
He said the project will be handed over by the end of the year.
It is projected that at least four million tonnes of ore will be hoisted per annum at full production.
And Lusaka Times finally realizes that really “All is Lost ….”, despite the +ve pronouncements from Kambwili ?. Chizungu
So he was touring on his own without the investors themselves?? OR is he vuvuzelaling about the investment which was made many years ago & is NOW ON CARE AND MAINTENANCE?????
Tomorrow we shouldn’t be surprised if he starts asking us to thank PamaFi for 50 years of independence!!!
A lot is already lost. Mr Kambwili it seems you are not aware that some children did not go back to schools or collages due to your incompetency in formulating and implementing mining policies. Shame on you.
“As Government, we are excited and we want to thank MCM for injecting so much money into our economy…..
The statement above is just showing the the spokes person is not aware that majority of that money remained with the suppliers of the equipment in Europe and China. It seems we have leaders who are not aware, at what stage this investment becomes part of our economy. Mr Kambwili, such invest only benefits at two stages, 1. when salaries are given to Zambians and 2. when mines pay taxes to govt. In this case none of the two has yet happened.
Glencore are just buying time to see what new govt comes in August. The Synclinorium project will only be operational after 2017. Hopefully at that time PF will be out on the dumps and the copper price will be high.
UPND should accept that in politics failing to tell the truth does not always pay. Poverty in USA has gone up by 12%. No coutry in EU has achieved economic goal. These are far much economic giants. Its not about winninig elections but how best we can work togather to develope this country.
White elephants. It was just another way of taking $1.1 billion to their countries of origin
Ba LT check the you the headline and the content of your story.
Ba LT check the headline and the content of your story.
Its contrary.
Comment: I am sure the mines will be back to life in no time. This is just a passing glance and it should happen when ECL is in charge. I don’t want someone to ride on one’s back. Retrenched miners will be brought back after acquiring land. Am not dreaming it will happen.
Is “hoisting” a production limiting factor at Mindola Mine? If the answer is no, then why another shaft to hoist?
Check yo headline ba Lusaka Times.
Mopani lsid off another 62 employees in last 3 days…more going next week wechipuba we.
LT: just what’s the matter, the text is contrary to the headline?
The project had been ongoing for a few years and will be handed over at the end of the year, what is kambwili commissioning?? PF have run out of ideas.
You promised us investores when build the most expensive roads in the world, most roads are complete, where are the investores?? I don’t mean cosmetic shops at manda hill. We want manufacturing investores.
kekekeke..indeed ..all is very lost..kashimba chimbwili is realising it
Government has provided an enabling environment for the private sector!!!!!
No Mr Kambwili !!!!! IT IS GLOBAL !!!
Or have you forgotten what you were telling us a few weeks ago?
For this iddiot “its global” means “I am clueless and don’t understand what is happening, but vote for PF anyway”!!
Minister of ubuwelewele misinformation and ubufi Honarable Kashimba “nyengani” kambwili
For mcm to put in so much could only mean sooner or later the bubbles will start rising. There’s a mishap though because only last week mcm effected more retrenchments.Govt would therefore do well to move fast on the promised land loans so as stem the tidal wave of frustration among the retrenchees,lest some unscrupulous politician try to take advantage even when it’s clear that things could’ve been worse
“As Government, we are excited and we want to thank MCM for injecting so much money into our economy….”
What f**ls will have for leaders look at this BUFFOON thanking them for an ongoing project…this Kambwili has a brain of a small lizard. We need a generation of leaders who are clued up with business issues and how to get the best deal for the taxpayer. This joker now sights to investor confidence in the economy but when things are bad he points to global issues what a shame!!
BWANA MINISTER THE GOVT SHOULD SERIOUSLY START CONTROLLING THE OUT-FLOW OF ALL MINERALS THAT A SHORTAGE IS CREATED AT EXTERNAL (INTERNATIONAL) MARKETS. THIS CAN BE DONE BY, GOVT EMBARKING UPON A CAMPAIGN TO ESTABLISH MANUFACTURING ALL POWER TOOLS USED IN CONSTRUCTION, MINING, WOODWORK, FARMING AND HOUSEHOLD ITEMS (SUCH AS FRIDGES/FREEZERS, VACUUM CLEANERS, PRESSING IRONS) INDUSTRIES. THESE INDUSTRIES COULD BE UNDER IDC (Industrial Development Corporation) OR PPP OR INVITING COMPANIES THAT MANUFACTURE THESE TOOLS AND PLANTS. THE MORE MANUFACTURING INDUSTRIES WE HAVE IN ZAMBIA THE LESS DECREASED COPPER AND OTHER MINERALS OUT-FLOW AND IN EFFECT CONTROLLING HOW MUCH COPPER SHOULD BE ON OUTSIDE MARKETS.
Zambia is inconsequential in the international supply of raw materials. Even in copper production, Chile produces close to 10 times what Zambia does. Also Zambians are so poor that they cannot support a large manufacturing base. How many people can afford a new fridge or aircons? Even the Zamefa cable production has to be exported for Zamefa to survive. Zambia is only good as an overflow market e.g. for South African producers.
#ChagwaMustFall
It all boils down to the will of GRZ. but these fools we have for leaders were signing free trade agreements with every country they could find forgetting to protect any growth of manufacturing in Zambia. They just sign anything without studying the implications, making Zambia a big shopping mall for South African goods.
If they were a clever GRZ, they should impose heavy duties on customs tax for goods that use a lot of copper like solar geysers and have them manufactured in Zambia using our copper. Same Also with power sockets, how many are used in Zambia for new builds? Have those made in Zambia.
But it seems that is too much hard work for this bloated GRZ and there only sacrifices and no bribes to be made.
It all boils down to the will of GRZ. but these fools we have for leaders were signing free trade agreements with every country they could find forgetting to protect any growth of manufacturing in Zambia. They just sign anything without studying the implications, making Zambia a big shopping mall for South African goods.
If they were a clever GRZ, they should impose heavy duties on customs tax for goods that use a lot of copper like solar geysers and have them manufactured in Zambia using our copper. Same Also with power sockets, how many are used in Zambia for new builds? Have those made in Zambia.
But it seems that is too much hard work for this bloated GRZ and there only sacrifices and no bribes to be made there.
Please feel some sympathy on the “former running mate”. Hope roan people don’t ditch you as ECL has ditched you for a woman mate. By the time this investment comes MCM would have pruned the number of miners they don’t require
This clueless clown really is too dull to understand what he is talking about! —– And Lungu appointed him Chief Government spokesman !!!!! What a JOKE !!!!
For your information dull Kambwili, the sign of investor confidence is a STRENGHTENING OF THE VALUE OF THE KWACHA !!!
Not your ignorant comments trying to tell the Zambian people more LIES!
When K4 buys one Dollar again then maybe we will start listening to you. Meantime, just F**K off you ignoramus.