Canada's First Quantum Minerals (FQM) reported today that copper production at Kansanshi rose to 182,500 tonnes in the first nine months to September 2009 compared with output of 153,300 tonnes in the same period last year. FQM attributes this to a "28% reduction in production costs" between January 2009 and September 2009, relative to same period in 2008. The low production costs are apparently as result of "cost saving initiatives" implemented in quarter four of 2008 and lower oil and sulphur prices.
Friday, 27 November 2009
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if kansanshi mining no give important dividends to zccm-ih (more than 300 MUS$ minority interest for zccm and only 3 MUS$ dividends for the last three years) we can say that First Quantum Minerals is not a good partner for zambia, only a vampire.
ReplyDeleteThe GRZ should replace FQM by another partner or vote a law to take majority in all mines in the country !