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Vol 2 (AAC) No 7

Published 1st May 2009


Zambia

A shake-out after the crash

China and India want to snap up assets as metal markets hit the floor and the mining houses sack workers

Western mining houses are pulling out of Zambia due to the copper price slump, leaving Chinese and Indian investors to battle over the abandoned assets. As the copper price crashed - from a high of US$8,675 per tonne in July 2008 to $2,800 in December - companies started closing down.

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