Reliable sources close to Lubambe Copper Mines operations have disclosed that Chinese Company, JCHX is set to take over the mine's 80 percent equity within two months once ongoing negotiations with EMR are completed.
According to sources, Lubambe Copper Mine Chief Executive Officer Tim Duffy addressed Union Branch leaders this week at general offices, revealing that JCHX mining is about to finalize discussions with EMR, Lubambe's existing owners.
Reports suggest that the Chinese Corporation is expected to overhaul the management structures at the mine, which is now 80% owned by EMR and 20% by Zambia Consolidated Copper Mines Investment Holdings -ZCCM-IH-.
And National Union of Miners and Allied workers-NUMAW- President Saul Simujika says he has received communication from his branch officials indicating that EMR is in the process of selling its shares to JCHX.
Mr. Simujika hinted at a meeting in Chingola today when full details about the future of Lubambe Copper Mines would be revealed.
Meanwhile, Phoenix News has yet to receive confirmation from either JCHX or Lubambe Copper Mine management while Mines and Mineral Development Minister Paul Kabuswe's phone was unreachable as he is out of the country.
PHOENIX NEWS