It is reported that Australian listed and Zambia's sole nickel miner, Albidon Limited has continued to restructure its operations and management and has since appointed senior staff personnel to oversee the company placed under care and maintenance because of lack of sufficient cash flow compounded by low metal prices on the international market.
According to a statement by Albidon Zambia, majority owned by China's Jinchuan mining Group, Mr Matthew Banda, a manager in the mining department of Munali Mine has assumed the position of new executive director until further notice pending new developments at the mine.
Munali mine has more than 2,000 workers and has since 2006 been one of the flagships of Zambia producing high grade nickel, but was recently faced with a number of operational problems chiefly natural calamities which compounded its cash flow.
The statement added that Mr Banda will lead what is being called Munali site leadership group comprising managers from all departments at the mine. Mr Banda's appointment follows the suspension of mining activities at the Mazabuka Mine which has been affected since June 18th 2011 in which it has been rocked by a spate of natural calamities.
According to company secretary Mr Noel McAuliffe the leadership group replaces the Chinese management team previously on secondment from Jinchuan Group, the majority shareholders in the troubled company. All the managers have since returned to China, where the parent company is located.
Recently, chairman of Albidon Limited, Mr Zhang Sanlin and acting MD Mr Harry Ou Wang visited the embattled Munali in company of Zambian government officials and members of the Mine workers Union of Zambia. This is when the Munali site Leadership Group comprising of managers from all departments at Munali was formed to oversee the mine in transition.
Mr McAuliffe said "This Leadership Group will be led by Mr Matthew Banda, Mining Manager, who will serve as its Executive Director."
The Chinese owned Munali Nickel Mine has been plagued by a series of mining misfortune that were heightened by the discovery of underground sinkholes.
The spate of incidents forced the Munali nickel, primed to produce 1.3 million tones of concentrates this year from the projected 900,000 tonnes to scale down production. It also revised the year end production target twice from the initial 90 000 tonnes to 55,500 tonnes and later by about 21% to 44,000 tonnes for 2011 in June 2011.
According to management, a comprehensive cost control plan had been developed with the Leadership Group expected to ensure that the company's resources are used in the most efficient manner. The company would continue to engage with potential investors and that it remained committed to securing a strategic investor.
(Filed by Mr Kapembwa Sinkamba SteelGuru Correspondent Zambia)
