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Friday, 26 October 2012

Mining Watch (Various)

Brazil’s mining giant Vale has begun producing copper concentrate at its Lubambe mine in Zambia. Production at the mine, which began on Oct. 4, is expected to lead to an annual output of 45,000 tonnes of concentrate, the company said on Thursday. The Lubambe mine is a joint venture with African Rainbow Minerals Ltd. and ZCCM-IH.

Human Rights Watch say work conditions at Zambia's Chinese-owned copper mines have improved, but the labour record is still clouding China's sizeable investments into the country.

Konkola Copper Mines is unsurprisingly not happy with recent reduction of capital allowance to 25% from 100% in the 2013 Budget suggerst the move will have an impact on the mines’ future projects. KCM says, The tax came as a surprise to us and it’s a matter of concern for the mining industry. The mine will engage Government on the matter through the Chamber of Mines of Zambia..."

The  Chamber of Mines of Zambia has been talking up Zambia's mining potential. It is "projected" Zambia will indeed hit 1.5 million metric tonnes of copper production in the next five years following new mining projects embarked on by mining firms. It is quick to note that mining firms have invested US$6 billion to date since privatisation in rehabilitation, expansion of new processing plants and housing projects.

Mines Deputy Minister Richard Musukwa says it is shameful that people living in mining areas were not feeling the benefit of the mineral revenue that companies operating in their localities pay to government. But the Minister does not go on to offer a solution to this predicament. 

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