The World Bank has expressed deep concern over the decision of the mining giant Anglo American to withdraw from its copper mining venture in Zambia.

The bank, in a statement released in Washington Friday, says it is dispatching a high-level team of experts to work with the Zambian government in reviewing the situation.

Thursday, Anglo American announced it was considering several options, including the sale, transfer of assets or closure of its mining venture in Zambia, Konkola Copper Mines.

Anglo American said it was making the move because of heavy losses and the low world price of copper.

World Bank official Peter Woicke says the focus now is on evaluating the options for Konkola Copper Mines and minimizing the impact on Zambia's economic development, the workers and their families.

Copper is Zambia's main hard currency earner.

Meanwhile, The International Monetary Fund says it is sending a team to Zambia this weekend to review IMF supported programs in the country for this year. The IMF team will discuss efforts to reduce poverty and boost growth in the southern African country.

Some information for this report provided by Reuters.

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