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INFRASTRUCTURE: Zambia (MRB Nov 2001): Investment flows into copper sector.
The much criticised sell off of Zambia's copper mines is starting to bear fruit. Investment in infrastructure has been in excess of US$250 million in the past 15 months of operations, ZCCM Investment Holdings Plc (ZCCM-IH) chairman Shalaulwa Shimukowa has disclosed.
In the chairman's statement on ZCCM-IH's accounts for the 15 months ending June 30, 2001, Shimukowa noted that while most of the mining firms had not yet attained full profitability, favourable results would soon be reaped.
He blamed "teething problems" as well as low world metal prices and the sharp rise in world oil prices last year for lack of profitability thus far.
However, Shimukowa said that most of the ...
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