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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (1638)	3/14/2007 10:15:46 AM
From: LoneClone	Read Replies (1) \| Respond to of 2131

Zambia Luanshya copper workers accept pay rise Source: Hoovers metalsplace.com Workers at Zambia's Luanshya copper mine have accepted a 22% pay rise, a senior union official said on Wednesday. According to Oswell Munyenyembe, General Secretary of the Mine Workers Union of Zambia, workers have also agreed to the signing of a new labor contract that takes them up to early 2008. Luanshya copper mine had initially offered a 16% pay rise against the union's demand of a 40% increase. According to a company official, work at the mine is continuing and output has normalized. The strike cost the company up to 500 metric tons of copper. LCM, owned by Swiss based J&W Investments Ltd., produces up to 2,000 tons of copper a month. LCM plans to spend over $200 million to develop the Milyiashi mine. Although LCM is a small mining unit by Zambia standards, Fredrick Bantumbuze, general manger of the Zambian chamber of mines, said smaller mining units are very important to the country's output because they aren't prone to work disruptions and can support outages at larger producers like Konkola and Mopani Copper Mines.