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KCM exports 74,930 tonnes of copper concentrates By Times R
By Times Reporter
KONKOLA Copper Mines (KCM) exported 74,930 tonnes of copper concentrates while Mopani Copper Mines PLC exported 54,814 tonnes of copper cathodes between January and June this year.
Speaking in Parliament yesterday, Mines and Minerals Development Deputy Minister, Boniface Nkhata said Lumwana Mining Company (LCM) exported 50,000 tonnes of copper cathodes, while Luanshya Copper Mines (LCM) did not export any products as it was under care and maintenance.
Mr Nkhata said Chambishi Copper Mines exported 13,791 tonnes of copper concentrates during the period under review.
He said this when he responded to a question by Roan Member Parliament (MP) Chishimba Kambwili (PF) who wanted to know the tonnes of copper concentrates and copper cathodes that were exported between January and June this year.
Mines and Minerals Development Minister Maxwell Mwale said the future of the mining industry in the country was becoming brighter following the rise in prices of copper.
He said this when he responded to a follow up question by Chiengi MP Katele Kalumba (MMD) who wanted to know the future of the mining industry after the copper prices went up.
Mr Nkhata also told the House that KCM made a loss of US$164.73 million, while Mopani made a loss of US$171.3 million as of December 2008.
He said that the expected profit for KCM in 2009 was US$190million while Mopani anticipated a loss of $32 million.
Mr Nkhata said this when he responded to a question by Kanchibiya MP Davies Mwango (PF) who wanted to know how much profit, after tax the two mines made as of December 2008.
He also wanted to know the projected profits in 2009 and whether the two mines would retrench workers this year.
From January to date KCM has retrenched 1,422 workers while Mopani has retrenched 1,793 and did not anticipate further retrenchments.
Now that the copper prices were rising, he said the Government would engage mining investors in discussions to re-engage the retrenched workers.
So far, Mr Mwale said that Mopani had re-engaged 27 workers.
He said this when he responded to a follow up question by Chongwe MP Sylvia Masebo (MMD) who wanted to know whether there were any possibilities of re-engaging some former workers.
Finance and National Planning Deputy Minister Chileshe Kapwepwe said Ecobank had so far invested K50 billion since the financial institution started operations in Zambia.
She said that in the coming 12 months, the bank anticipates opening eight branches throughout the country and creating at least 200 jobs.
Ms Kapwepwe said this when she responded to a question by Chipili MP Davies Mwila (PF) who wanted to know how much money the bank plans to invest in Zambia.