UMUZ OPTIMISTIC ABOUT WAGE INCREASE FOR MINERS OWING TO PREDICTED RISE IN COPPER PRICES
Written by Mafken FM Newsroom on 15 January 2025
By Staff Reporter
The United Mines Workers Union of Zambia- UMUZ has expressed optimism that wages for employees in the mining sector will increase this year following an expected increase of copper prices.
UMUZ President Wisdom Ngwira says as the copper prices increase this year, mining companies will increase profit and should therefore prioritize increasing Workers wages who are in the front line of production.
Mr.Ngwira has noted that past experience indicate that mining companies often prioritize profit over employee welfare, resulting in minimal wage increase even if the commodity prices are high.
London Metal Exchange has projected an increase in Copper prices to an average of between 10 500 US dollars and 11 000 US Dollars per metric ton for the years 2025 and 2026.
