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Sunday, 10 May 2009

Mine Watch (Luanshya)

The Government finally settled on the Chinese firm Chinese firm NFC Africa to run Luanshya mine, in a move that sees the widening China's influence in the sector at a time when the metal is rising on prospects of a global economic recovery. Also interesting to see that Government opted to retain only 15%, backing from the statement last month that it will increase its stakes in all copper mines to between 25 percent and 35 percent from about 15 percent, in order to exercise more influence on their running, and prevent closures that could result in job cuts. World Bank pressure paid off?   More detail via Reuters

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