‘Rising copper prices good for Baluba Mine’

Sat, 05 Aug 2017 10:59:18 +0000

By OSCAR MALIPENGA 

LUANSHYA Mayor Nathan Chanda says he expects Baluba mine which was put on care and maintenance in 2015 to reopen now that the copper prices on the world market were slowly getting back to normal.

He has also expressed hope that Shaft 28 will also be opened by the China Non Ferrous Metal Company Luanshya Copper Mine (CLM).

Mr Chanda said the local authority was expecting LCM to start stirring back to life after the positive trends the world copper mining industry was currently recording.

“We are optimistic of the reopening of the Baluba mine which is on care and maintenance. We also are hopeful that Shaft 28 will be opened.

“You see the copper prices are now doing well and the Kwacha has appreciated well so we expect the two mines to be opened for the benefit of our people.

“We are confident that with the attractive copper prices, things will change in Luanshya and we expect that all the workers to be called back for work,” he said.

Mr Chanda said he was alive to the fact that the mines would be opened because the main reason the investor gave the last time when engaged was the low copper prices and power.

Mr. Chanda said the reopening of the mines would create more jobs for youths in Luanshya and the Copperbelt at large.

He said it would boost the economy of Luanshya, adding that Luanshya would never be the same more so complementing the Mulyashi Open Pit which was the new lifeblood of Luanshya.

Mr. Chanda said Luanshya residents remained optimistic that the prices of copper on the world market would one day stabilise.

“In line with our town’s motto: Copper Remains Valuable, we are hopeful that the mining sector will continue making Luanshya a better town to live in for both the investors and the locals.”

“Let me also assure that very soon, we will visit the mines to get firsthand information on what the mines are planning now,” Mr. Chanda said.