Mowana Mine Reopens, African Copper Posts Profit
Monday, August 17, 2009
The company also said it has appointed David Rodier as its new chairman and was confident about the future.
African Copper, which had put its Mowana mine on care and maintenance in January pending completion of financing talks, said it had received $41 million in funding from mining investment firm Zambia Copper Investments Ltd (ZCI).
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...