Lusaka - Zambia's Luanshya Copper Mines (LCM) wound up operations Wednesday, citing the sharp drop in copper prices on the international market due to the global recession.
Company spokesperson Sydney Chileya told private radio that LCM would finish paying off its 1,740 workers Wednesday and ruled out any possibility of reopening the mine.
Last month, LCM, a joint venture between Swiss-based International Mineral Resources and Bein Stein Group Resources of Israel, already shut down one of its copper mines at Baluba and its Chambishi cobalt smelter, the country's largest.