Economy

PRESIDENT EDGAR LUNGU TOURS LUBAMBE MINE

Chililabombwe ~ Thur, 7 Jan 2021

By Brightwell Chabusha

President Edgar Lungu has toured Lubambe Copper Mine on the Copperbelt.

Lubambe Copper Mine is an underground mining operation situated on the Zambian Copperbelt close to the town of Chllilabombwe.

The Lubambe Copper Mine is 80% owned by EMR Capital Resources, while 20% is held by ZCCM Investments Holdings Plc.

The tour of the Mine is part of the Head of State’s three-day working visit on the Copperbelt Province.

The Head of State will proceed on a tour of projects in the province.

President Lungu will on Saturday congregate with Christians at one of the Seventh Day Adventist Churches in Kitwe before departure for Lusaka later in the afternoon.

3 Comments

  1. Musyani

    Keep working but sort out Kcm as the government has messed up,you appoint a liquidator then all of a sudden now two companies will be formed from that?a liquidator’s job is to wide and dispose assets to pay creditors,
    Vedanta is a global company listed on the London stock exchange, as a country we will sanctioned and end up paying alot of money to them to your selfish gains as pf government,we have so much debt already if you wanted you should have just nationalized the company not lying to us that the government doesn’t know how much copper goes out of the country,there is zambian directors,zra involved before any copper gets exported.
    Maybe you want quick money for compaings this year by bringing this ownership confusion.no zambian workers stand to benefit from this only the few ruling party elite.

    Reply
  2. Nshilinama

    Vedanta was given chance to run kcm but due to poor performance by Vedanta government came to restore order. An opposition was giving directives to Vedanta to layoff workers to its advantage so now there order

    Reply
    • Musyani

      Nshilinama,
      Dont be naive,the government had directors through zccm in who are zambians,the way company law works is not what is happening there,if the government had issues with vedanta they should have sat them down and talked not going liquidation root yet the company is not being liquidated but given to a pf cadre lawyer milingo,it is his company now he can do whatever he wants to it,he is supposed to sell it and pay creditors not running it as CEO.
      What should have happened was supposed to be nationalization then it would have been a government mine but there is no sanity there we will end up paying alot of money for these pf government who are looking at money for compaining for elections this year.

      Reply

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