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Gold/Mining/Energy : first quantum minerals FM on TSE -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (319)	12/11/2000 2:20:22 PM
From: Stephen O	Read Replies (1) \| Respond to of 385

Good Mining Policies Cheer Anglo Chief Publisher: Times Of Zambia Author: Times Reporter - Lusaka =========================================================================== Anglo-American chairman Julian Thomson has said the mining policies in Zambia were favourable and will attract more investors in the sector. After visiting Konkola Copper Mines (KCM) in Chingola Mr. Thomson said he was pleased with the co-operation from Government and the local staff. Mr. Thomson said the co-operation shown by Government was good for Zambia as it would open up prospects for more investment. 'It is good for Zambia and it will open up prospects for more foreign investors in mining development,' said Mr. Thomson who was accompanied by other directors. He was happy that there was a good working relationship between expatriate staff and the locals as well as between the Mineworkers Union of Zambia (MUZ) and management. Mr. Thomson said much progress had been made in revitalising operations at Nchanga and Konkola mines and US $260 million would be spent. Anglo-American was confident the Konkola Deep Mining Project would begin by 2002. And Mines Minister Syamukayumbu Syamujaye was cheered by the progress at KCM. He said it was a sign that privatisation of the mines was a good decision by Government. Dr Syamujaye was particularly happy that privatisation had attracted direct capital investment and contributed to growth of medium enterprises. He said the construction industry had been boosted and its future was bright despite some difficulties. Dr Syamujaye assured Anglo-American that Government was ready at all time to help resolve difficulties that they might face. Later at ZCCM smelterco which is managed by KCM, the delegation was told that rehabilitation of the refinery and smelter was in progress and there were plans to change some of the methods to improve the quality of copper and reduce toxic emissions. Mr. Thomson and his entourage were scheduled to fly back to South Africa late in the afternoon yesterday. Anglo-American is the largest shareholder in KCM which bought Nchanga, Konkola and the Nampundwe pyrite mines. The other shareholders are ZCCM, Commonwealth Development Corporation (CDC) and the International Finance Corporation (IFC).