LUBAMBE MINE NOT SOLD - KABUSWE
GOVERNMENT has denied assertions that Lubambe Copper Mine in Chililabombwe has been sold to a Chinese firm called JCHX Mining Company.
Paul Kabuswe, the Minister of Mines and Minerals Development, said the government through ZCCM-IH, which had 20 percent shares and the EMR with 80 percent shares had not sold the mine yet.
Mr Kabuswe indicated that currently, the negotiations were going on and once concluded the nation would be informed accordingly and urged Zambians to avoid the temptation of falling into speculations with wrong information.
Mr Kabuswe said at no point did the Government and mine owners sign an agreement with the Chinese firm on the prospect of the mine being sold.
He said the estimated time frame to sign the agreement with whoever would be the investor was March and Government was loking forward to engage the workers to see to it that their concerns would be raised during the negotiations to sale the mine.
He said the concerns about the retirement, surveillance packages, terminal benefits, and the conditions of service would be the priority when negotiating with the would-be the investor.
Mr Kabuswe told the employees that the mine owners want to sell their stake because the mine was facing financial challenges. “So, all these lies that Kabuswe has sold the mine are false. I will not say that the investor is JCHX because negotiations are going on with interested parties. Let me assure you that no deal has been signed yet,” Mr Kabuswe said.
Mr Kabuswe said the new dawn administration would not allow corruption during the negotiations period and that all transactions shall be transparent.
He said all what the Government wanted was to prioritise the welfare of the miners who were the important component of the mine.
He said the investor who would take over the mine need to respect the agreement which would be signed.
Mr Kabuswe said the government would not allow an investor to abrogate the agreement because it was the guarantee for the safety of the miners.