MOPANI PAYS K341 MILLION IN TAXES

Lusaka, Tuesday, 11th June 2024 –

The rejuvenated Mopani Copper Mines has paid K341 million (approximately USD$13 million) in taxes since its takeover by Internal Resources Holdings (IRH) in March, 2024.

This came to light when IRH Chief Financial Officer, ABHINAY KHOWALA paid a courtesy call on Finance and National Planning Minister Dr SITUMBEKO MUSOKOTWANE, in Lusaka today.

Since the revival of Mopani by IRH and the Zambian Government, “there is a great deal of enthusiasm among the work force, we are all excited to contribute to the viability of Mopani and the growth of the Zambian economy,” said Mr. KHOWALA.

Mr. KHOWALA described Zambia as a mining paradise hence his firms’ (IRH) keenness to ensure that Mopani lumps-up production to optimum levels by putting in place efficient systems of production, mine administration, and supply chain management.

He was accompanied to the Ministry by IRH Finance Director, FRIJO FRANCIS, and Mopani Copper Mines Tax Manager, CHIKUSI BANDA.

And Dr Musokotwane says the people of Zambia have high expectations in the investment that IRH has made in Mopani, “this is why the start you have made in meeting your tax obligations is a step in the right direction” for job creation, company stability, and expanded business prospects.

The Minister took the opportunity to affirm the Government’s business facilitation policy stance aimed at growing the economy in a sustainable and competitive manner.

Dr Musokotwane also informed the visiting team about the availability of other investment opportunities in mineral exploration, mine development and value addition.

International Resources Holding, based in Abu Dhabi, United Arab Emirates, has a 51% stake in Mopani Copper Mines.