Jerabos reject K1.7m from Mopani – Zambia
A CONSORTIUM of small-scale miners, commonly known as jerabos, is interested in buying shares in the giant Mopani Copper Mines (MCM).
Chapamo Mineral Processing Company, which was recently empowered with a 10 percent share in the slag dump, popularly known as Black Mountain, wants a stake in the mine.
Government and Glencore, the owners of the mine, are in talks following Zambia Consolidated Copper Mines–Investment Holdings (ZCCM-IH)’s interest to increase its shareholding in the mining company. Currently, ZCCM-IH owns only 10 percent shares in the mine but now wants to have a controlling stake.
Minister of Mines and Mineral Development Richard Musukwa said Mopani shares can even be floated on the stock exchange for Zambians to tap into.
This has inspired Chapamo Mineral Processing which wants to have representation in the mine.
Company director Kelvin Tembo said in a statement yesterday that Zambians should be given an opportunity to manage the country’s mines, which are dominated by foreign
investors.
Mr Tembo said the consortium of miners, which comprises seven companies, is also looking at getting loans from financial institutions to buy shares in Mopani.
He said having shares in the mines is a long-term investment to improve the welfare of youths.
He said the consortium of miners is also looking at getting loans from financial institutions to finance the buying of shares in Mopani.
Mr Tembo said all the seven companies in the consortium are agreeable to own shares in the mines.
He, however, said it would be nice for Government to empower youths by buying them shares in the mines.
“We are seeing Government departments empowering youths. They can also do so by buying them shares in Mopani,” he said
Chali Musonda, said the number of truckloads which were given to the miners are about 2,996 and that the buyers usually pay K10,000 per truck.
“They think we don’t know how to count, we know. They are saying they gave us 800 trucks, if you multiply that figure by 10,000 is it giving you K1.7 million,” he said as MCM acting chief executive officer Charles Sakanya listened.
But Mr Musukwa quickly intervened and asked Mr Sakanya and his team to reconcile the figures and get back to the miners.
“You have expressed your displeasure and, as a minister, my job is to engage the mine. Please, do the reconciliations on the number of trucks. You should have reconciled the figures before engaging us,” he told Mopani management.
Mr Musukwa said Government is grateful with the gesture from Mopani but that there is need for the mine to organise more truckloads for the donation to be meaningful.
“These people know accountability. You can cheat them on something else but not on the counting of trucks,” he said.
Mr Musukwa, however, urged the miners to accept the K1.7 million donation as the mine tries to resolve the problem.
Earlier, Mr Sakanya said the small-scale miners were given 800 truckloads of copper ore and that K1.7 million had been realised from the sale of the material.
He said some of the youth were also empowered with farm implements so that they could venture into agriculture.
