China Copper Mines in Chingola has become the latest mining company to lay off its workers, announcing over 200 job cuts and the suspension of US$50 million worth of investment which would have resulted in the creation of 1,000 jobs.
CCM Director Yu Wang Ping in a statement issued to QFM News today says the move follows the pressure the company has been put under where several Government agencies have clamped down on its operations in the last two months, by asking that the company complies with a number of requirements.
Mr Ping says despite his company fully complying with these requirements, the suspensions continued.
He says as a result of these suspensions, CCM has suffered serious financial losses due to disruptions in production for two months.
Mr Ping adds that if the current situation continues, the company will be left with no choice but to place the mine on care and maintenance.
He has since appealed for the intervention of President Edgar Lungu for the company to continue operating and safeguard the over 200 jobs
Mr Ping states that CCM has always been willing to continue its operations even when copper prices on the international market have fallen and the country is facing a power deficit, but that it is government agencies that are closing down their operations against their willingness to continue operating.
He states that several attempts have been made by the mining company’s competitors to dent the image of the company, adding that unsubstantiated statements of bribery against CCM are proving to be harmful to their investment which may result into loss of jobs.