The Mine Workers Union of Zambia – MUZ- has called on the Zambia Consolidated Copper Mines Investment Holdings ZCCM IH to increase its stake in all mines in Zambia if the country is to benefit from its mineral resources.
MUZ President Joseph Chewe says the current percent of ZCCM-IH shares in major mines is too small, that is why foreign firms are firing workers and paying them low wages.
Speaking at a public discussion forum organised by the Economics Association of Zambia -EAZ- in Kitwe last night, Mr Chewe also urged government to reject any move by the mines to retrench workers based on the proposed increase of mineral royalties in the 2019 National Budget.
Earlier, Copperbelt Permanent Secretary Bright Nundwe praised the Economics Association of Zambia for being a partner to government in economic development.
The Copperbelt Permanent Secretary added that government is doing a lot to develop the country and it is just in order for associations to give credit where it is due.
And Ministry of Mines Director of Mine Safety Gideon Ndalama revealed that Zambia has not yet reached its full potential in terms of mapping the minerals the country has.
Mr Ndalama revealed that so far, only 62 percent of the geology of the country has been mapped and there are many other minerals which they country may discover in future.
And I will likewise increase my shareholding in ZCCM-IH
@Bro. Mumba, do you get anything from those guys? I put in K5million old currency $800 in RB days.
In 2015 I went to close anything, in protest of PF power fight, and ZCCM- HH threw me allover place. Sounded PF was running it too. My feel is I lost money just same as I lost money by investing in National House of Players which Ba Edgar never built.
@Bro Nostra … ZCCM-IH is a sure investment and if you have your stock certificates followup on your dividends as well. Another good one used to Zambia Tobacco formerly British Tobacco on LuSE, so is ZAMBEEF.
These three stocks are the blue chips of Zambia and you can never go wrong. I don’t know if IDC is already listed too but I can bet my life on such a stock because of the emerging market potential the company has.
Sorry I don’t think ECL’s House of Prayer was issuing any stocks and I think only donations were accepted as a non-gov, non-profit entity. I am sorry for your loss but follow up with your NRC, you should be able to recover your monies
If a banker like JUNIOR is putting his own money (I repeat own money not other hapless poor sobs) from his own pocket…then I look into it!!
@Gay Gay … I only put my own money where my mouth is!!! And those 3 companies have remained all weather blue chip companies for the smart people of the Zambian Enterprise.
Now us Investment Banker have disclaimers too and here it comes!! ‘Past performance is not an indicator of future outcomes’. We are required by SEC to issue for legal reasons.
So, having said that … try an initial $10,000 and compare it’s yield to the S&P 500 for instance, ZCCM-IH will out perform the S&P 500 in 5 years. Remember that index just dropped by over 10% year to date last week.
On the other hand, ZCCM-IH have grown by over 35% in the last 5 years, if you factor the non-growth years of 2015 and 2016 out of the equation, it has grown by almost 50% since 2009.
Now there you have it…
Continued …
Now, there you have it … I should have charged a fee for consultation since you are still low libido, low class and low IQ. Let me take that back, I think you are now improving so you deserve some freebies from a pal like me, mate.
Just don’t over use the courtesy … thanks a trillion.
Man this autocorrect is a mess … “ZCCM-IH “”has”” grown”
“us Investment “”Bankers”” have”
Sorry about that …
BR Mumba, ZCCM Investment Holding is steep in corruption.
Its CEO and Chief Investment Officer are deep in corruption. Investing in useless companies and getting kickbacks.waiting for change of government to get these thieves behind the bars.
Sane thing is happening at IDC.
Cannot wait fir 2021.
How I wish Nathan Chishimba was present so that he can explain to the panelists how the ‘proposed’ changes to the mineral royalties will hurt production and overall output as opposed to unilaterally issuing unsubstantiated and alarming claims to the media in then name of Chamber of Mines. Increasing shareholding is a process which ZCCM-IH can negotiate by buying back their original shares.Now will the mines agree to that? This is something that was suppose to be thought over during the privatizarion process.Do we still have the negotiating power to buy back our shares without any litigation?
Will the call be heeded? That’s the question. We still have a long way to go before we can safely say that we own our mines fully but at least this is a move in the right direction.
we sure like to go round in circles: please read the history of zccm you will note that people with high integrity used to run this country tried this route but ended up giving the mines back to private hands/sector to revive them.
these peopple are still alive -please ask. Now after a lot of hardwork in recapitalizing these mines to profitable levels – our short memory – we want more money.- and risk getting to the point where the cash cow is milked to death.
DONT RE-INVENT THE WHEEL improve on the Invention.
i would rather GRZ lowered Taxes in return ask the mines to ask their major mine manufacturing suppliers to relocate to zambia and all major procurement done in zambia – more local content. the mines SPEND ALMOST $ 5 billion per yr on procuring capital items, equipment, spares…
Very wise words. But the mines have PF in their pockets , they are major campain fund backers of pf and they are a law onto them selves…..
This should have been the case right from inception, when these mines were privatized. Now we should push for ZCCM-HI to grab some shares and exert some control. For as long as that status quo remain the same, nothing will change. Mangufuli has done it, we need to show these companies running mines in Zambia that this time we mean business and no amount of arm twisting will be tolerated. We need to benefit from our God given resource instead of moving with a begging bow all the time asking for crumbs.
PF should just impose a 200% duty on all textiles entering Zambia.
You will see that every uniform, work or school will be made in Zambia using Zambian cotton.
Lazy Lungu is too weak..You think China will just sit there and let them do it…remember what happened to RSA when they did the same with cheap Chinese imported chicken they reversed their decision immediately when China gave them a 60 day ultimatum to respond.
How do you propose they go about it, just grabbing or using an alternative sensible method.
“TOLD” OR “ADVISED”!
Leave the unmapped mines/land for future generations.
ZCCM groomed so many professional miners in all category. Why can’t ZCCM-IH start up a mine wholey Zambian owned.