CHINA Non-Ferrous Metal Mining Company (CNFC) group chairperson Tau Xinyhu has said his company is determined to transform Luanshya Copper Mines (LCM) into a sustainable and profitable entity.
Mr Tau said in Luanshya yesterday that CNCF would ensure that the US$400 million investment in the mine added value to Zambia's economy, as more people would be employed at the mine and at the Muliashi Mine project.
Mr Tau said despite the global economic recession, his company was determined to increase investment volumes in the mine over the years and ensure that high profit levels were sustained.
"We will open Baluba Mine and carry out a study to develop Muliashi Mine under this initiative which will succeed and open a new chapter in the relationship between Zambia and China," Mr Tau said.
Chinese Ambassador to Zambia, Li Quianmin said the taking over of Luanshya Copper Mines was a true testimony of the sincere brotherhood that existed between Zambia and his country.
Mines and Minerals Development Minister Maxwell Mwale said the Government had proved its critics wrong when it managed to address the crisis caused by the closure of the mine within six months.
Mr Mwale said President Banda had proved that he was determined to find a solution to the problems created by the closure of the mine.
"What we are witnessing today is the result of decisions taken by a responsible leadership to ensure that our people return to work and start leading normal lives," he said.
And Labour and Social Security Minister Austin Liato advised the new mine owners and the unions to seek advice from his ministry whenever they needed guidance on labour matters to maintain industrial harmony.
Copperbelt Permanent Secretary Villie Lombanya commended CNFC for partnering with the Government in re-opening LCM at a time when the country faced many financial challenges.
Former miners' representative, Stanslous Mwimbe appealed to the new mine owners to observe labour laws and ensure industrial harmony.
On July 6, the Government signed an agreement with CNFC to take over the operations of Luanshya mines after Enya Holdings pulled out.
