Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: LoneClone who wrote (1643)	3/16/2007 9:13:06 AM
From: LoneClone	Read Replies (1) \| Respond to of 2131

Zambian govt warns unions over copper mines strikes Source: Hoovers metalsplace.com The Zambian government has threatened to deregister workers' unions that cause strikes at copper mines as it seeks to end the current labor unrest in the country. According to the official, the labor commissioner at the ministry has already written to all trade union leaders warning them against engaging in illegal strikes at copper mines. The official said that the labor commissioner wrote to union leaders early this week emphasizing that they should not lead their members into strikes at copper mines when there are a range of peaceful ways on solving labor disputes. A source at the Zambian Mines Ministry said that the measures are aimed at boosting investors' confidence, and noted that investors are pumping a lot of money into the sector only to face disruptions and strikes. Up to $2 billion has been invested in the sector since 2002 and to attract more investors there should be industrial harmony, the Mines Ministry said. The labor ministry has also warned workers not to engage in illegal strikes. It noted that recently workers had gone on strike at Mopani and Luanshya Copper mines although negotiations were still going on, and this was against labor laws which stipulate that workers should only take action after labor talks fail and a dispute is declared. Last week, the management of Luanshya Copper Mines PLC threatened to sack up to 1,000 workers for engaging in an illegal strike. The Chief Executive Derek Webbstock said workers went on strike when there was no declared dispute. He said that the company had invested a lot of money and had not made profits only to be confronted with hefty pay increase demands, workers later accepted to end the strike after management agreed not to sack them. A Mines Ministry official said the sector is on its way to recovery after many years of unimpressive performance and any attempts to engage in strikes will kill mining. It is a risky venture due to the volatile metal prices on the international market and companies need protection, it said. Miners in Zambia are keen to press for increased wages due to what is perceived as huge profits being made by mining companies on the back of the recovery of the copper prices on the international market. An official with Zambia's National Miners and Allied Workers Union confirmed it had received a letter from the labor ministry about the strikes but insisted that workers' unions are protected by Zambian laws and no one will threaten them in their quest for improved working conditions.