15, 000 MINE JOBS SAVED

….ZCCM-IH gets backing in deal ...Mining crooks exposed

GOVERNMENT is focused on saving more than 15,000 jobs at stake at Glencore owned Mopani by increasing ZCCM-IH shareholding, Minister of Mines and Minerals Development Richard Musukwa.

Mr Musukwa expressed surprise at the pessimistic views from some Zambians on the prospect of ZCCM-IH increasing its shareholding in Mopani.

And Mr. Musukwa has clarified that the undertaking is not a take-over of Mopani but a commercial transaction after ZCCM-IH expressed interest to increase its shareholding and that government will prioritize partnership with the locals.

“Government is increasing its shareholding in Mopani and not taking over,” he said.

“We want to assure those who think that ZCCM-IH and Zambians can not take centre stage, that we have an opportunity to ensure that ZCCM-IH makes a difference,” Mr Musukwa said. It is sad, Mr Musukwa said, that there are Zambians, even some respected economists, who always wanted to be on the part of multinationals and want to ensure that Zambians are relegated to the worst portfolio.

“We are not expropriating Mopani. Far from that. It is a commercial transaction. We have fair and exclusive discussions with Glencore over the matter,” Mr Musukwa said.

He urged Zambians with ideas on how best ZCCM-IH can operate to come forward.

He also said those who run mines in Zambia do not come with money but source at the international platform and that ZCCM-IH would do the same

He said ZCCM-IH will structure a form in which they will source for funds to invest in Mopani because government wants to save 15,000 jobs at stake.

“ZCCM-IH is equal to the task. Where ZCCM-IH will have no capacity, it will be built by Zambians so I expect Zambians to indicate where capacity needs to be built rather than doubt the ability of the company,” the minister said.

He also said for a long time, ZCCM-IH has been a holding company and has been dealing with legacy issues of ZCCM and it has the necessary experience.

“ZCCM-IH should partner with both local and foreign entities but local entities should be a priority,” the minister said.

Mr. Musukwa says Government at the time of expressing interest to increase its shareholding in Mopani Copper Mines knew that pessimists would discredit the process under claims of lacking capacity.