Maravi

(LUSAKATIMES) Kansanshi loses $25 million in strike

Kansanshi loses $25 million in strike
TIME PUBLISHED - Tuesday, March 6, 2012, 8:56 am
First Quantum Minerals

FIRST Quantum Minerals Limited says the company has lost over US$25 million in revenue through the five-day strike action by miners who were demanding improved conditions of service. The mine says the company has been losing US$5 million per day in revenue and in excess of US$1.5 million per day in taxes to government.

“Management reiterates its regret that the illegal work stoppage has caused great losses to the Zambian economy. These losses have an adverse effect on all stakeholders, employees, government and all Zambians,” the mining giant said in statement released yesterday.

The statement says management is committed to ensuring a speedy resolution of the dispute with unions and has initiated the required process provided for by the laws of Zambia.

The company has urged everyone to remain calm and exercise restraint to allow for the dispute to be decided by competent authorities.

“We request that the union recognises the due legal process and encouraged its members to return to work,” the company said. The company warned employees of disciplinary action.

The company also warned that management will ensure that legal and civil action is taken against anyone who engages in acts of intimidation or who willfully encourages or exacerbates the initiation or extension of work stoppage.

First Quantum Minerals Limited are the owners of Kansanshi Copper and Gold Mine in Solwezi, the biggest copper producer in the country. Miners at the mine have been on strike, which entered its fifth day yesterday.

[Zambia Daily Mail]

Labels: KANSANSHI MINING PLC, MINING, STRIKE

posted by MrK @ 5:16 PM