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Economic Evolution of Underground Mining in the Chambishi Copper Mine

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DOI: 10.23977/ferm.2019.21001 | Downloads: 30 | Views: 1407

Author(s)

Banza Ezona Daniel 1

Affiliation(s)

1 School of resource and safety engineeringļ¼ŒCentral South University, Changsha 410083 ,China

Corresponding Author

Banza Ezona Daniel

ABSTRACT

Chambishi commenced a research project to improve revenue at the plant. The research involves plant optimization, improved technology at the plant to improve recoveries and a global market study to identify suitable concentrates from which high value metals such, CHAMBISHI Copper Smelter (CCS) has assured its 1,600 employees that their jobs are safe despite challenges the mining sector is facing. The programs of nationalization were ill-timed. Events that were beyond their control soon wrecked the country's well-laid plans for economic and national development. However, surging copper prices from 2004 to the present day rapidly rekindled international interest in Zambia's copper sector with a new buyer found for KCCM and massive investments in expanding capacity launched. China has become a major investor in the Zambian copper industry, and in February 2007, the two countries announced the creation of a Chinese-Zambian economic partnership zone around the Chambishi copper mine Chambishi also boasted of a couple of well stocked shops although most of the shopping was conducted at Nkana (Kitwe). Chambishi is predominantly a mining town, with two of open pits mines at China’s Non Ferrous Africa Mining Corporation (NFCA) and the newly opened SINO Metals’ Mwambashi Mine. Apart from the underground mine at NFCA, another one has been opened at a place that used to be Nchanga Farms called South East Ore Body (SEOB) with an investment of $850 million. It also has a couple of multimillion-dollar smelting plants- Chambishi Copper Smelter and Chambishi Metals. SINO Metals has also opened up the Mwambashi Open Pit Mine in the southern part of the town and made a copper processing plant near Chambishi.

KEYWORDS

Copper mining, Zambia, history, nationalization, privatization, production, national economy

CITE THIS PAPER

Li Xinlei, Xin Shibo, Economic Evolution of Underground Mining in the Chambishi Copper Mine. Financial Engineering and Risk Management (2019) 2: 1-6. DOI: http://dx.doi.org/10.23977/ferm.2019.21001.

REFERENCES

[1] Human Rights Watch interview with underground boomer operator D at NFCA, Chambishi, July 16, 2011. 
[2] Zambia Election Results: Opposition Wins, China Watches Warily,” International Business Times, September 23, 2011.  
[3] Nicholas Bariyo, Dow Jones, “Zambia President: Mining Firms Must Respect Labor Laws,” September 23, 2011. 
[4] See also Andrew England, “Sata gives Chinese investors guarded welcome,” Financial Times, September 26, 2011
[5] Charles Kenny and Andy Sumner, “How 28 poor countries escaped the poverty trap,” Guardian (UK), July 12, 2011. 
[6] Leia Michele Toovey, “The Top 10 Copper Producing Countries,” Copper Investing News, November 17, 2010, 
[7] RAID, Chinese Mining 9 operations in Katanga, Democratic Republic of Congo, September 2009, p. v,  
[8] Human Rights Watch interview with miner working in the high-voltage section at CLM, Luanshya, November 11, 2010. 
[9] Human Rights Watch interviews with miners at CCS, Kitwe, November 2010 and July 2011.

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