Republican President Rupiah Banda is expected to commission Africa’s largest copper mine, Lumwana mine in Solwezi in April 2009.
Commerce, Trade and Industry Minister Felix Mutati disclosed this during his tour of the mine in Solwezi today.
Mr. Mutati said the mine will be commissioned by President Banda as it would fully functional by April 2009.
The Minister expressed happiness at the levels of infrastructure development and economic opportunities the mine is offering.
Mr. Mutati expressed hoep tht the Kwacha will gain its ground amid the global financial crisis once the mine became fully functional as they will be an increased inflow of foreign currency.
Speaking earlier Lumwana Mine Managing Director Harry Michael has expressed hope that his company will maintain its production efficiency so as to minimize loses and stand the falling copper prices on the global market.
Mr. Michael also revealed that his company is scouting for US$ 200 Million from its cooperating partners for the development of Uranium project at the mine.
Lumwana Mine has a total capital investment of US$ 910 Million, the largest single copper mine investment in Africa.