MINING investors have been urged to cut down on expenditure to maintain operation costs instead of resorting to job cuts whenever copper prices on the international market plummet.

Mines, Energy and Water Development Deputy Minister Richard Musukwa said investors should exercise restraint on extra expenditure so that operations were sustained through the falling copper prices.

He said reducing on the workforce should be the last option by mining companies because the Government wanted to take advantage of investments in such sectors to create more jobs for Zambians.

"Government does not control the fluctuating metal prices of the international market, so it's up to the mining houses to create a survival plan and ensure productivity even when copper prices drop so that a safe working environment is created for Zambians," he said.

Mr Musukwa said the Government had come up with an extensive policy framework so that shareholders have a fair return on their investments in Zambia.

He said in working to reduce Zambia's dependence on copper, the Government is willing to issue out more licences on metals like cobalt, manganese to investors wishing to explore them.

In a separate interview, Private Sector Development Association (PSDA) chairperson Yusuf Dodia said investors needed to rationalise their investments so that they continue making profits from copper.

"The mining industry should operate more cost effectively so as to continue recording profits even when the copper prices are low," he said.