✅Enterprise nickel mine –Africa’s largest nickel producer – has come online following a 100 million United States Dollars investment from first quantum minerals (FQM).
✅First Quantum Minerals is also making strong progress with the s3 expansion of the kansanshi mine and smelter, investing over one billion United States Dollars, boosting downstream beneficiation.
✅Moxico resources started production at its Mimbula mining project in march, 2023, producing 6,000 tons of copper in the first nine months of operations.
✅Kobold metals, which uses pioneering artificial intelligence (AI) Technology, has made significant progress in defining the orebody at its mingomba project, following a 150 million United States Dollars investment in 2022.
✅Barrick gold corporation has doubled down on its commitment with a two billion United States dollars investment to expand its Lumwana mine into a ‘SUPER-PIT’, capable of producing 240,000 tons of copper per year when it comes online in 2028.
✅China non-ferrous mining corporation has pledged 1.3 billion United States Dollars investment over the next five years for its various operations in Zambia, including 600 million United States Dollars reopening of shaft 28 at the Luanshya copper mines, on the Copperbelt of Zambia and expressed gratitude for this confidence in Zambia.
✅President Hichilema reiterated Government’s commitment to making Zambia a reliable investment partner of choice on the African continent.
✅He said Zambia has a stable and predictable mining, legal, regulatory, and fiscal regime; as Government made a commitment during the 2022 mining Indaba.
✅The Head of state said the Country has made substantial progress in resolving issues which UPND administration inherited at mopani mine, and Konkola copper mines.
✅The President expressed gratitude to international resources holding and Vedanta resources, for the combined 2.3 billion United States Dollars investment they have committed to providing, in order to fulfill the potential of these two national assets.
✅Noted that Government has made significant efforts to support the gemstone sector and, in particular, emeralds, where Zambia has become the world’s largest producer of this precious stone.
✅President Hichilema acknowledged the investments of companies such as Gemfields in a joint venture with the Zambian Government.
✅The Head of state reiterated Government’s dedication to positioning Zambia’s mining sector for future growth.
✅He further reiterated that Government is undertaking a nationwide geological mapping exercise to provide accurate geodata for exploring new mineral resources and deposits.
✅He encouraged diversification through mineral exploration exercise so as to confirm resources in rare earths, lithium, gold, manganese, graphite, Sugilite, and indeed diamonds.
✅The President also stated that Government is working with local and international partners to boost Zambia’s energy and transport infrastructure, which will help to support Government’s bold mining ambitions.
✅He said these projects include; the 2.2 billion United States Dollars kafue gorge lower power station; the UK-ZAMBIA green growth compact, opening up 3 billion United States Dollars in private sector and government funding for renewable energy projects across Zambia.
✅The Copperbelt energy company 200 million United States Dollars green bond issued – to finance solar, wind and other renewable energy projects in our country.
✅He further revealed that Government has opened up the energy market to private sector players through the open access regime and facilitated off-taker guarantee financing, allowing mining companies to finance captive power to fuel their expansion projects.
✅President Hichilema said Government has also lined up infrastructure projects like the Zambia Lobito rail line and the upgrading of TAZARA Railway line to provide a smoother route to markets for mining operations based in Zambia.
✅He called call for investment partnerships to power this new, green, African future: helping the world to meet its climate targets and usher in a new era of industrialisation for Africa, and the global community.
✅Government committed to expanding mining value chains within Zambia and the region.
✅He further called for technology firms to carry out geological mapping, financiers to fund ambitious projects, and energy companies to boost our infrastructure.
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