600 Workers and Contractors will be retrenched following the decision by Mopani Copper Mines (MCM) PLC closes part of it’s shafts.
According to a source, MCM informed the Three unions in the mining sector and Government of its plan to shut down two of its mine shaft June 1.
MCM has cited hefty cost of running operations as the primary reason for the closure.
Addressing the media, Mine Workers Union of Zambia (MUZ), President Joseph Chewe said the mine has been forced to shut down its two mines due to increased cost of operations necessitated by fuel costs, electricity tariffs, unpaid vat refunds and new taxes.
Chewe described the closure as disastrous but said the operations at the two shafts are however expected to resume by October 2019.
MCM produces copper and cobalt to the international market, being one of the biggest mines and exporters in the world.
The company operates the Mufulira mine, smelter, concentrator and copper refinery and the Nkana mine, concentrator and cobalt plant.
MCM is a Zambian registered company owned by Carlisa Investments Corporation (a joint venture company comprising Glencore International AG, First Quantum Minerals Ltd and ZCCM-IH.
Recently Mines Minister, Richard Musukwa warned MCM that if it continues downsizing operations, they Government will start look for investment to come and venture in mining.