MOPANI Copper Mine (MCM) has assured Government of sound investment policies in its operations as President Edgar Lungu yesterday continued to engage stakeholders in the mining industry.
Special Assistant for Press and Public Relations, Amos Chanda, announced in Ndola yesterday that Mopani had committed itself to sound investment policies and improved management practices in its units in Zambia.
Mr Chanda said this after the President held a closed-door meeting with Mopani, Copperbelt Energy Corporation (CEC) and senior Government officials on matters relating to the mining industry.
“The management and board of Mopani assured the President that they were very committed to sound investment policies, management practice, corporate social responsibility and all forms of engagement. The President has thanked them for their commitment,” he said.
He said however that the President had expressed displeasure on certain issues with Mopani including social services such as health and education.\n\nMr Chanda said President Lungu was not amused with the issues relating to contractors and suppliers and wanted the mining firm to rectify them.
“Otherwise the summary of it is that the President had a fruitful and constructive engagement with Mopani,” Mr Chanda told journalists at Bank of Zambia guest house in Itawa residential area.
Mr Chanda said the President would also balance between the interests of the country and the citizens on one hand and the investors.
According to Mr Chanda, President Lungu also implored CEC and Zesco to guarantee a smooth transition of the bulk power supply agreement which would come to an end next year.
The power utility firm generates and supplies power in bulk to CEC which in turn feeds the mining industry in a tripartite arrangement.
On the depreciating local currency, Mr Chanda said Government was examining local factors, but pointed out that the US dollar was appreciating, hence many other currencies were taking a downward trend.
Mopani Chief Executive Officer, Chris Vermeulen, assured that his firm had not stopped offering medical services at Malcom Watson Hospital, but that it had transferred some of its operations to Wusakile Mine Hospital in Kitwe.
Mr Vermeulen said Mopani would continue with corporate social responsibility programmes in areas where it operates
Meanwhile, Government’s strong stance on Konkola Copper Mines (KCM) is a strong signal to truant investors that Zambia is not a kangaroo nation where the rule of law is trampled upon with impunity thereby rendering citizens to be at the mercy of unscrupulous businesses, Edward Mumbi has said.
On Friday, President Edgar Lungu announced Government will disengage with KCM saying he would not allow Zambia to be blackmailed or arm twisted by mining investors as the country was still ripe for investment.
He said Government had resolved to part with KCM and would invoke the legal process to that effect.
The President assured that Government would follow the due process of the law in disengaging with the KCM investor, Vedanta Resources.
“We have been taken for a ride by some of these investors. So I am here to announce that Government is divorcing KCM,” President Lungu said.
And speaking to the Sunday Nation yesterday, Mr. Mumbi, a development activist, said the decision by Government to disengage from KCM, was a wake-up call to other foreign companies doing business in Zambia.
He said the decision should serve as a clear message to investors that truancy did not pay.
He said the decision on KCM was long overdue because the company had reached an extent of tainting mining business in Zambia.
“Government’s decision is in the best interest of Zambians. We may have minerals but we all know that minerals are a diminishing resources and if we do not make use of it to build our country by allowing foreigners to exploit it while giving us peanuts, future generations will suffer because they will have nothing left,” Mr Mumbi said.
“For a long time now, KCM has been claiming that it was making losses and was among other companies that have been trying to arm-twist government,” he said.
“Government said no employer must lose jobs on the mines but with impunity, they went ahead and cuts jobs on flimsy grounds simply because of the Sales Tax regime and so, let them go,” he said.
Mr Mumbi called on all stakeholders to rally behind Government’s decision because there was no other option left.
He urged political parties not to politicise the matter but look at the bigger picture by putting the interest of Zambians first
In other words pf are broke and want some form of inducement or bribees from these companies hence all the attacks on them. Only hh concerns were genuine
Get lost with your hh. Who wants hh in zambia.
You are an educated ful…clouded by tribal politics. For you it’s better for KCM to continue mismanaging our resources.
Is this toad the mouthpiece of the Government?
Someone ask the toad to stay in his lane!
Thanks
BB2014,2016
I love Zambia you are a lost cause. No where in my comment did I say that Zambia is getting a fair deal in the mining of copper or that am happy for the alleged mismanagement of resources to go on..what I am saying is that it is worrying that your president is only acting after many cries from upnd about this issue. So to me it does not seem like a genuine reaction but rather knee jerk to hh growing influence on copperbelt. If you don’t agree with my point please tell me why in a constructive way. Thank you and forward
Gentlemen, pronouncements without any detail are useless. What are these “sound investment policies”?
And why can’t the president speak directly to the people via a press conference? This kind of pronouncement gives no confidence at all.
Flip-flop president Lungu.
In other words, brown envelopes will keep going the direction of the PF and groupies.
When we tell you PF does not care about you, you insult us.
This lazy corrupt president even flew to the copperbelt, promising to sort out the mines.
On his way back to Lusaka, the plane was full of “utusaka” twandalama. That is why he has changed his tune.
When it comes to the plight of citizens, there should be no balancing tricks.
But our government is rotten to the core.
You can not tell fleas from the leadership.
They stink the same.
There is nothing in this article it just reinforces what I stated on Friday…LAZY LUNGU should have stayed in Lusaka…I mean the whole President was there discussing provision of Medical services with them. The man is too dull to be playing chess with these savvy mining executives and he even looks more silly after issues hot air at the airport tarmac.
60% Zambians want HH as President
Amos … prepare the smart people of the Zambian Enterprise with bad news. These are not genuine investors … they have no interest of our people at heart.
They will negate on these promises. The only workable silver bullet remaining is a hostile take over of all these mining assets.
I have a formula for that … it’s a stealth operation and before they know it we fire their entire board and appoint a new one as the majority shareholders.
That’s the only workable solution, everything else is sugar coating.
Watch this space … tweende (let’s roll)!!
Epo mpelele,
BRM
Quote” On the depreciating local currency, Mr Chanda said Government was examining local factors, but pointed out that the US dollar was appreciating, hence many other currencies were taking a downward trend.” end quote. This is not true, can Mr Chanda give us statistics? For example compare the exchange rates for past three months for Zambia and Tanzania against the US dollar, The Tanzanian currency has appreciated while the Zambian Kwacha has depreciated by over 30%. Can Mr Amos Chanda cite other African countries that have had their currency depriciate by over 30 % in the last 3 months? Generalizing our problems to make them global won’t make them go away. It’s just an old fashioned tactic to dodge responsibility.
More like Govt has been arm twisted. Sometimes i miss impulse leadership. The moment you give these infestors chance to talk they will convince you on all their problems. Lets fact it..who would be in business for 9 yrs making loses. We all been told how this outsourcing have exposed some of this mining firms coz it turns out that zambian contractors are literally managing some shafts while they just sit to do administration.
TAZAM has been making losses for more than 40 years. It is only this year when it paid government a small dividend. Check for your self. Many of state companies do not even pay dividend. I do not even know whether they pay taxes or proper taxes.
El.lusambo.Kampyongo.chanda boys.magie MUST GO
Unite and save the country from corruption.theft.political thuggery and manipulation
Make sure gbm.fube are completely obliterated from political scene
More useless comments from a useless govt made up of thieving debarred lawyers and useless kaponya`s and drunks… nothing will come out of this sh!t anyway, these loser are not worth anything so, no one takes them seriously
Even Mopani they are equally the same. There is no training for Zambians in the high-tech equipment they are installing on their units. All their equipment is controlled remotely from South Afric, and no Zambians are being trained to that effect. Training for Zambians is mainly first aid, safety and Glencore communication literary making our graduates spectators
Where is the unpatriotic MUZ, busy supplying parts for the some equipment that is denying us skills and exposure to modern mining techniques.
That’s why I salute the Wasakile MP for raising his concerns over conflict of interest.
No matter how much we defend pf deep down we know that they have messed up things. Only a fool will defend them.
No matter how much we defend pf deep down we know that they have messed up things. Only a fool will defend them.
KCM must pack and go
IT SET A BAD PRECEDENT FOR OUR ECONOMY.
He had already missed the opportunity, he should have engaged business houses last time he was here but he chose to patronize hooligans at the Black Mountain. Most miners have already shifted support to Kambwili and Kalaba, even marketeers see Kambwili the buffoon as their saviour because of your negligence. You didn’t have any message of hope for the people of Roan no wonder you lost. That campaign was very embarrassing. Now you have gone back without addressing the land wrangles in Maposa, Misaka, Mipundu. Mwekera, etc just because Kambwili and HH didn’t talk about them. How can Kambwili say anything when he’s the land culprit? Why have allowed Kambwili to set your political agenda? Come you can do better than that!
Chimbwr no plan.
“We have been taken for a ride by some of these investors. So I am here to announce that Government is divorcing KCM,” President Lungu said. “
Ba lungu …….manje manje ba muletelani ma brown envelope uko ku statehouse ba mwenye , muzayaba ku vina vina futi
So lungu and chanda got paid hence the words used “constructive” meeting
When are we going to kick these minions out
We have got KCM. So what is the next move? Zambians failed to run Chilanga Cement in Ndola and Chilanga in Lusaka province. So is Kasanshi mines in Solwezi. Also failed to run ZCCM. We have failed to run profitably state companies, At least 30 state companies are loss making companies out of 38. How much money does the government get from state companies? ZESCO, ZRA, ZAMTEL TAZARA, TAZAM TAZARA, Nitrogen ZS insurance etc. are hopeless companies. Even the little money got from the mines are misapplied. Loans misapplied.
IF ZESCO HAD A COMPEITITOR, IT WOULD HAVE SHUTDOWN AGES AGO BECAUSE OF CORRUPTION, NEPOTISM, OVERPRICING… LOOK AT HOW MANY UNQUALIFIED CADRES IT HAS. SOON THEY WILL BE TRANSFERRED TO THE MINES AT THE RATE WE ARE GOING.
That’s too negative @see. The problem is we are a developing country without much capacity to make massive profits. ZESCO, for examp!e has relied on a small customer base in towns. Until they started expanding supply to villages and other remote areas can they start gaining a larger income and profit. There is no need to compare Zambia to wealthier Western countries. There is a need to keep prices low for the majority, for that reason privatising those companies in hope of profits is not wise.
The bottom line is investors especially in mines must pay taxes and have good csr policies or there is no need for them.
Sound investment policies … The way I understand it means policies that create conditions favourable for good business. So they can do what they want for them to optimize on profits… Beware of language..
No I think it’s the acumen the investor has in making effective policies that can deliver good business and profits.
Major Issue with the mines now is that most of their suppliers are foreign, in the re-engagement with the mines, please this aspect needs to be dealt with.
That is because of the bankruptcy and corruption of lungu and PF….. most of what the mines use should have been made in Zambia by now with that $17 billion debt we spent on buildings ……..but instead of looking at foundamentals like this, lungu was busy stealing with his gang……
@ABK, it’s the Opposition Chap known as HH, who sold our mines to investors who refuse to pay taxes. Selling Zambian assets to foreign investors was supposed to attract more taxes to GDP, unfortunately. They milked us.
It appears the government is suddenly aware and surprised of wrong things going on the mining industry this despite ZCCM- IH and a full minister of mines! Could it be that PF is now “smelling the (political) coffee” on the Copperbelt following the Roan defeat?
It is really a nice and helpful piece of information. I’m glad that you shared this helpful information with us. Please stay us up to date like this. Thanks for sharing.
@16??? .. I CAN SEE YOU ARE NAIVE or TOTALLY LOST!! What information has been shared here that can tell you that things are resolved or will be done differently?!! HOW CAN AN ENTIRE PRESIDENT GO AND START PLEADING WITH A COMPANY FOR SOCIAL RESPONSIBILITY INSTEAD PUTTING THEM ON THEIR TOES TO RUN THEIR MINES TRANSPARENTLY TO BENEFIT ZAMBIANS? MOPANI PLANS TO CLOSE TWO OLD SHAFTS, WHAT HAS BEEN AGREED WITH THAT RESPECT??
Chanda we have been to school. If dollar has been appreciating against other currencies the kwacha would remain the same against the other currencies. Arithmetic made simple.
You have a father who drinks and mother.
This economic sabotage. Soon this shall be Zimbabwe
you have mines who don’t want to pay anything.U have also banks who want to depreciate the kwacha in order to make billion.U have BOZ which is usel—-essss nothing to show.Zambia has Gold n Diamond but we have nothing in reserves.The bible talks Gold,diamond,silver and other precious stones as riches but poor Zambia with poor technocrats want papers .What a country full of corrupt chaps. Lungu can’t be blamed but the technocrats of this country are too corrupt n usle–ss.Ba lungu u deserve a vote
PF is politicking with the Zambian electorate over the mines to salvage the votes which are going down every day. If it was not for the dwindling vote, they would not care less.
WASTE OF TIME WITH THIS CROP OF LEADERS!! Why have a closed door meeting which a Presidential Spokes..fimo fimo.. reports about in generalities?? MOPANI PLANS TO CLOSE TWO SHAFTS, WHAT HAS BEEN AGREED IN THAT RESPECT?? MOPANI AND OTHER MINES DON’T WANT TO PAY THE NEW TAXES, WHAT HAVE THEY SAID NOW?? ZAMBIAN CONTRACTORS ARE SHORT CHANGED, IS MOPANI WILLING TO DO MORE BUSINESS WITH ZAMBIANS?? What a bunch of inept chaps, wasting Zambia’s time and resources!! IN ALL THESE, WHERE ARE EXPERTS IN MINING FROM MIN. OF MINES, EXPERTS IN INTERNATIONAL TRADE FROM MIN. OF COMMERCE, TAX AND FINANCE EXPERTS FROM MIN.OF FINANCE AND ZRA, WHERE ARE LABOUR EXPERTS FROM UNIONS AND MIN.OF LABOR- and Lungu is busy parading that simpleton Chanda in a crisis like this one!! LET THEM GO, TO LEAVE THE…
This is a sensitive issue which is not supposed to be handled by this frog .People’s jobs and subsequently their lives are at risk . Zambians should demand more from Lungu and not let him pass on responsibility to this puffed up tw$t who thinks he knows it all and runs Zambia .
Where is the enforceable tangible document where facts, figures, deadlines and milestones are laid out?
This is all just stinky fart!!
Businesses couldn’t just talk word-of-mouth on such important matters unless they have no respect for you!!