first quantum minerals FM on TSE Message Board

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Gold/Mining/Energy : first quantum minerals FM on TSE

FM 27.19

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Jan 8 4:00 PM EST

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To: Stephen O who wrote (316)	11/15/2000 5:38:58 PM
From: Stephen O	of 385

Mines performance cheers State Times of Zambia 15th Nov 2000 By Business Reporter GOVERNMENT is satisfied with the performance of the newly privatised mines, Mines and Minerals Development Permanent Secretary Albert Kashimu has said. He said in an interview in Ndola yesterday, latest production figures submitted by the mining companies to the ministry were very encouraging. Mr Kashimu said Government which had been monitoring the performance of the mining entities since their privatisation, was satisfied with their monthly targets. 'Government is impressed that the figures which the mining company under ZCCM used to struggle with in three months, can be achieved in just a month,' he said. Mr Kashimu was referring to the achievement of Mopani Copper Mines (MCM) and Konkola Copper Mines (KCM), which had achieved the monthly figures of more than 15,000 tonnes of copper. He said the recapitalisation of the mines by the new owners was encouraging and hoped that the whole rehabilitation and replacement programme of the existing mining equipment would be completed in time to boost production capacity. Mr Kashimu who could not immediately give consolidated production figures for the other mining companies however, hinted that Government was also monitoring the general performance of some troubled mining companies. 'We are still monitoring the performance of the other mining companies some of which we know their current problems,' Mr Kashimu said without any direct reference to the Roan antelope Mining Corporation (RAMCZ) in Luanshya. He said Government knows the problems facing some of the privatised mines and would give it sometime before any decision could be made.

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