Surrender mine, Chambishi Metal ordered

CHAMBISHI Metal’s management should surrender the mine because it has failed to run the operations, Minister of Mines and Mineral Development Richard Musukwa has said.

Mr Musukwa said government cannot entertain the on and off closure of the mine, therefore, it was prudent that the management surrender it to government so that a serious investor can be engaged.

He said government could not allow an investor to put the mine on care and maintenance for 2 years and send the employees on the street.

“I want to agree with the mines unions and other stakeholders that the on and off closure of Chambishi metal is the matter that we cannot entertain. If they have failed to run and operate the mine they should surrender it.

“Who will sit and wait for them for two years, we have no luxury of time. We have been elected to provide service to the people of Zambia and protect their interest.

“So I want to assure our workers, the people of Copperbelt and the country at large that government will not entertain rouse kind of behavior from the mining companies in order to maximise profit,” Mr Musukwa said.

The minister in an exclusive interview yesterday said all mining companies must come to terms and share mineralisation of the country and reduce their profit margins.

The super profits which they are making should come to an end, they need to pay the 5 percent copper concentrate tax, he said.

Mr Musukwa said government cannot be arm-twisted by the mines because it had listened to them about the sales tax.

Mr Musukwa said the 5 percent on copper concentrate was here to stay, therefore, each mining company must adhere to the law.

“If Chambishi mine is not making profit like the way it is claiming it should have showed us its flow charts of the profitability and loses and we will be able to look at it and we can see how to help.

“But for them just to say that they are putting the company on care and maintenance without notifying us is a serious issue because they are abrogating the Mines and Minerals Act.

“And what we have seen is that the Chambishi local management has no capacity to buy copper concentrates because of their hidden hands internationally which are controlling the operations. So if they have failed they can go,” he said.