. Hichilema

By JAMES MUYANWA –
GLOBAL mining giant, Anglo-American Corporation, which the opposition United Party for National Development (UPND) has seen as a remedy for the mining crisis in Zambia, is laying off 85,000 workers globally due to the collapse of commodity prices internationally.
Patriotic Front media and publicity committee vice-chairperson, Sunday Chanda, said Anglo-American was seen as the remedy for the mining crisis in Zambia by opposition UPND leader Hakainde Hichilema.
Mr Chanda said in a statement yesterday that not too long ago, Mr Hichilema had told a gathering in Chingola that he would bring back Anglo-American Corporation once elected into office to take over Konkola Copper Mines (KCM)  and Mopani Copper Mines (MCM) and create more jobs.
“While Mr Hichilema is still rejoicing that 4,000 miners lost their jobs on the Copperbelt, we want to remind him that his prescribed remedy, Anglo-American shares have fallen to a record low as the company said it would sell huge chunks of its business and shrink its workforce by nearly two-thirds.
“Apparently, Mr Hichilema believes Zambians are so gullible and have suffered collective amnesia to forget Anglo-American’s history with the Copperbelt Province.
“When Glencore shed off 4,000 jobs on the  Copperbelt, there was jubilation in UPND as they assumed the miners would easily get swayed by being promised to be taken back to the period of Anglo-American when it pulled out of Zambia during the reign of late President Levy  Mwanawasa,” he said.
According to the BBC and other international media, the prices of the firm’s shares have dropped to a record low.
The company said it would sell big portions of its business and reduce its workforce by nearly two-thirds.
Anglo-American told investors on Tuesday that four coal mines in Australia were up for sale as the company restructured its operations globally, and that it planned to cut 85,000 jobs as it merged six divisions into three businesses. Continued on Page 2