HomeBase MetalsLuanshya copper mine halts operations

Luanshya copper mine halts operations

Derek Webbstock,
CEO, Luanshya
Copper Mine
Luanshya, Zambia — MININGREVIEW.COM — 30 December 2008 – The troubled Luanshya Copper Mine (LCM) in Zambia has halted operations and will only resume mining if the price of copper rises.

Reuters reports from here that, confirming the closure, CEO Derek Webbstock revealed that mining operations had ceased last Saturday, and that all 1 740 employees were being laid off.

“Yes that’s correct, the mine is closed and all the workers will be laid off,” Webbstock told Reuters. “I don’t know when the operations will resume … but I can say that it will only be after the price of copper is up again.”