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Book chapter Book chapter Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:African miners and shape-shifting capital flight: the case of Luanshya/Baluba
Authors:Gewald, Jan-BartISNI
Soeters, SebastiaanISNI
Book title:Zambia, mining, and neoliberalism: boom and bust on the globalized Copperbelt
Year:2010
Pages:155-183
Language:English
Geographic term:Zambia
Subjects:copper mining
privatization
mining companies
miners
Abstract:Since the early 1980s, Zambia - under structural adjustment programmes enforced by the World Bank and IMF - has liberalized its economy so as to make the country attractive to foreign investors. Between 1997 and 2000 the jewel in Zambia's crown, Zambia Consolidated Copper Mines (ZCCM) was privatized and sold off to investors. This had disastrous results for Zambian mine workers and their dependents. This chapter focuses on the case of the Luanshya and Baluba mines owned by the privatized mining company Luanshya Copper Mines (LCM), from which the investors decided to withdraw in early 2009. The chapter also outlines the history of the relationship between international financial institutions and the coppermining industry in Zambia. It shows that foreign investors have consciously engaged in 'shapeshifting' in response to changes in the market for copper, leaving it unclear who is responsible for the economic and human consequences of their activities in Luanshya. App., notes, ref. [ASC Leiden abstract]
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