The global financial crisis and a sharp decline in metal prices have forced mining companies in Zambia to lay off thousands of their employees.
As the largest producer of copper in Africa, Zambia relies on exports to keep its economy running. But as the copper mines struggle, earnings have dropped.
Al Jazeera's Haru Mutasa reports from the town of Chingola in Zambia's copper belt.
Thursday, June 11, 2009
China have been stockpiling in a range of commodities in recent months such as aluminum, copper, nickel, tin, zinc, canola and soybeans.And as of April, China began stockpiling significant quantities of crude oil shooting the price to a high $78 today , these moves are in anticipation of an explosion in prices , but also reflects China's rush to get rid of its massive reserves in US dollar currency in an anticipation of a probable hyperinflation in the US such as predicted by experts like Marc Faber late last month