ANGLO’S ZAMBIA MINES SHOW METTLE

A UNIT of South African natural resources giant Anglo American Plc says its Zambia mining operations will break even by the end of the year despite current losses. Anglo’s Zambia Copper Investments (ZCI) is the majority shareholder in Konkola Copper Mines Plc (KCM), which bought Zambia’s Nchanga and Konkola copper mines and the Nampundwe pyrite mine in March from former state mining monopoly Zambia Consolidated Copper Mines (ZCCM). In its half-year results report ZCI said KCM’s finished copper production for the April-June period came in at 36493 tonnes compared with a planned 41445 tonnes. It blamed the shortfall mainly on delays in receiving spare parts and equipment. KCM produces most of Zambia’s copper and it is a leading foreign exchange earner in this poor but politically stable southern African nation of 10 million people. – Reuters