EQUINOX MINERALS LTD : ZCCM IH audit report ready

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28 juin 2011 •14:41

ZCCM IH audit report ready - Zambian government
Saturday, 25 Jun 2011

Mr Boniface Nkhata mines deputy minister of Zambia said that financial audit reports for the government subsidiary, Zambia Consolidated Copper Mines Investments Holdings have been completed and are ready.

Mr Nkhata said lawmakers that the accounts were ready. However he did not elaborate on the next course of action although he attributed the delay in producing the annual reports to inability on the part of Price Waterhouse Coopers, the company engaged to carry out the audits.

Price Waterhouse Coopers has since been dragged to appear before the Zambia Institute of Chartered Accountants ZICA disciplinary committee in an effort to speed up the process of auditing the reports.

Mr Nkhata was responding to a question raised in the house by opposition lawmaker and Nchanga Member of Parliament Wylbur Simuusa who sought to know when outstanding reports for ZCCM Investments Holdings would be produced.

In a related development, reports stated that Zambia, Africa’s largest copper producer and fourth world largest provider of the metal to the international market challenged its nationals to invest in the mining sector to contribute to national development.

Mr Jazzman Chikwakwa deputy minister mines and minerals development of Zambia said that Zambia has the best mineral resources in southern African that citizens should take advantage of. Zambia has abundant natural resources, including minerals. I want to challenge Zambians to invest in the mining sector. They should partner with foreign investors. It is the only way we are going to develop this country.

God has given Zambians a beautiful country which is endowed with the best copper and manganese which needs to be exploited to benefit from the mineral wealth. Government said there was need for strong partnership between Chiengi district and Mpweto area in Lubumbashi because of their mineral resource.

(Filed by Mr Kapembwa Sinkamba SteelGuru Correspondent
Zambia)

http://www.steelguru.com/metals_news/ZCCM_IH_audit_report_ready_-_Zam bian_government/211507.html