President Rupiah Banda has advised mine investors to seriously consider investing in metal processing locally to make copper exports more profitable .
Mr. Banda said metal processing would add value to the minerals that are being mined in Zambia and exported.
He was speaking when he commissioned the Lumwana Copper Mine in Lumwana, Solwezi today, which is the largest open pit copper mine in Africa.
He said government is ready to partner with investors such as Equinox Minerals, which has exhibited long term desire to invest in the country’s mining sector.
“What government expects is for investors in the mining sector to consider investing in metal processing facilities that add value to your metal.
Government strongly believe that time is ripe for investors like you to consider processing the copper you mine and add more value by selling finished products made in Zambia to the same international market,” he said
He said government was proud with the perseverance exhibited by Equinox Minerals in fully developing the Lumwana mine project, which started twelve years ago.
President t Banda has since assured the investor that government would partner with the company to further develop the project for the economic benefit of the local people.
The President said government will ensure that it only allows serious investors to set up businesses in the mining sector and not those who only declare interest when the sector is performing well.
He said government was indebted to Equinox Minerals for sacrificing to pump in $US1 billion in the mining development project regardless of the set backs that the copper mining industry was suffering in the recent past.
‘”We are proud and feel indebted that during the twelve years of the project development, you sacrificed to pump in $US1 billion which includes the development of modern Lumwana town. This shows the trust you have in our mining industry regardless of the ups and downs,” he said.
He said government will consider Lumwana mine project , which is Africa’s biggest open pit copper mine, as Zambia’s ambassador in efforts of promoting more investment in country’s mining investment.
Earlier, Equinox Minerals project Manager, Craig Williams said the company is determined to contribute to the efforts of improving the economic status of local people.
He appealed to government to continue providing incentives that will encourage more investment and performance in the mining sector.
And Solwezi West MP Humphrey Mwanza appealed to government to consider embracing Lumwana Mine as part of the Multi Facility Zone.
Mr. Mwanza said doing so will encourage and enhance performance of the mine to enable it fulfill its social responsibility to the local community.
President Banda also toured the mine plant this afternoon.
He is accompanied by Mines Minister, Maxwell Mwale, Commerce Minister Felix Mutati, Education Minister Geoffrey Lungwangwa, Lands Minister Peter Daka, Minster in Charge of Gender Sara Sayifwanda and other senior government officials.
Lumwana Mine is expected to produce 140,000 tonnes f copper concentrates every year.
ZANIS/SJK/MKM/KSH/ENDS
Reopen closed mines in Luanshya and other places before running off to open the door to other investors who have no clue about copper mining in Africa
Appears a good venture… What about Luanshya mines???
#Sorry @#2, appears to be a…..
#2,3 Mrs Stevens – Luanshya mine has been closed for the last 3 months because investors just upped and left, leaving everyone in the lurch and RB has been promising to reopen the mines since with no progress – thats about Luanshya mines.
#4, Nomba Ba Mikomfwa, who is running Lumwana Mines??? bushe te Ba Investor nabena??Rb has been promising ….. in his personal capacity or as President?? Why didnt he take drastic steps to rectify the problems in Luanshya before those 3 months?
Opening Mines while others are closing. Well when one door is closed, another one is open. That is the way forward. This is positive news for the economy and means more employment for the people. Let more of such news cover the whole of Zambian. It is also important to find solutions to the other mines.
This is the way forward,Aussies know lots of mining….
Cursed be the day when LPM died , this indeed is very momentous occasion …. for MUSHAHALA ….. reasons for intellectual attack….
North west province …. produce more minerals let KK and Kafupi be ashamed…..
Give RB the chance …….. I rest my case
This is great news…i hear that north-western province has in the recent one year been rocking interms of development and obviously the opening of this mine will just boost the situation.
That is , another province , yet developmentally, un used , economical and survival zones net safety of Zambia…. No envy….. copper , maize in mind
The picture LT What does it depict……. I beg to be informed…
We should all be happy that the mining sector is improving in the right direction despite the fall in copper price at the London Metal Exchange. The idea of adding value to the refined copper is indeed something we should all focus attention to encourage those with the means to get involved. Think of it, wars in the past have always driven the copper price upwards, however, now it is the electrical industry . Additionally there is drift from galvanized water pipes to those of copper. This being the case, we need a copper tubbing company in Zambia.
#1, what is so negative about this story!? If Luanshya mines closed because, for some reason, investors saw it advantageous for them to leave is not anybody’s fault—especially on the part of Zambia. However, the fact that other investors still have confidence in Zambia’s business atmosphere and are willing to pure something like a billion dollars in; is what Zambia needs and should encourage. It is very easy for things like business closings to have some sort of a “domino effect” and scare-off most investors (especially foreign ones) but that is not the case here. This tells you something about what may be going right in Zambia. I hope you didn’t mean no more new investments until closed ones (mines) are all up and running again. That would be self-defeating, wouldn’t it???
North western province , will commercially and socially be a force to recon with ……My analysis
If there is development in the the country , should Luanshya be a constant reminder with the snake….
Viva north-western province and all the kachokwezis!
I am reading will you ask me , any thing about medicine,,,,,,,
LT you evil , you moderate ,yet you do not correct …. you are evil… Fred of the post is superior…
LT you are evil …..
#18,Stripper i have noticed the new nice leg again,plz next time show it up to the knee,just to start the day,good morning.
As for the news,all has been said.surely this is great news fo mother zed.we really need to add value to our copper b4 we export.something is happening back home,yesterday it was zambeef sweet news,2day lumwana,plz don’t deppress us 2moro,bring yet another breaking economic news.
King Snake is next to die ….. sata
Thou foul No Way where are you? I’m stunned by your verbal abuse on me. What is it for. Surely I ll not sit and watch your spite go by. What business of yours is what I can do to LT. How do you think I know that they are actually using an X64 based OS on their server and you know how easy it is to crack that Registry and access password info and log on remotely. If you are incapable or a retard its definitely not my fought. You blame your dad for giving such genes. You don’t know me and I don’t know you, I don’t even need to know the likes of primitive homo-sapiens like you. But one thing you are right. I’m actually a simple man and down to earth. But as to grow? I will leave that to the unfolding events to teach you just how grown up I am.
#24 should read ‘fault’ not ‘fought’. Pardon.
#23 Wiseman-reborn I see you have now become god or you are training to become one. Good luck!
I’m looking for the bandit going by the name of Political Black Belt who featured a few minutes ago. This young man from Soweto wants to wage a war with me and I’m warning him to back down now because his black belt won’t protect him.
#24 Bring it on Political Black Belt, where are you hiding m0r0n? Some of you haters should think before attacking bloggers early in the morning. If you raise a white flag Political Black Belt at #24 you’ll be spared and get to leave another day to lick your balls.
You need to stop watching movies about hacking, in the real world you need to read and research before opening your trap to blubber about hacking a site like LT. Leave it to the ones who know this techno.
This looks great or may be its becoz bushiku.Hope the pipo in charge are not only interested in our minerals.
3RqU
Mudala wandi that is my number try again or just text me so that I can have your Number as well,I didn’t see any missed call.
Good day.
#28 No Way man you are crazy. Do you smoke? Why don’t you just put your photo, instead of that gravator, so we can see the one saying this corrupt stuff.
Anyway you should know that I am a patient man, looking forward to the changed you. As for hacking I’m actually not interested I’m a very busy man, and I don’t indulge in any illegal activities. If my complaint to LT sounded like a threat then to them I’m sorry.
#30 Political Black Belt. Peace, man.
Stil, Zambians are not benefing in the natural resources. The money made from the sale of copper and other minerals are being externalised. eg Indo Bank
Wiseman, are you really a medical student. You are not qualified yet but training here like Mpelembe boys. Or are you already qualified cause we will not waste our time asking a student for medical advice.
# 33 I am a product of UNZA Medical School 2000/2001 …….ask me. I am very observant e.g that Indian guy Doc for RB ….. Desei sharine… who I have been seeing lately behind RB… does this ring a bell
This is an excellent manifestation of the caliber of our UNZA Medical School.
An after thought , did any one of you ever considered who the doc for our President was/is….. critics and hypocrites you are…..
Hey man! Dr wiseman-reborn, Take it is easy, Something is bothering you and its not LT. Talk to real friends. You are going mental. For your own advice stay away from Lt, as you said that its Evil, I 100% agree with you. Everthing in moderation dude!
#37 Very well said bro/ sis , and as been said, ” any body who is afraid of confrontation never takes responsibility….. Presidency is not for The Snakes but love ……
Nice weekend bane.. beers are calling
If I had powers I would have suggested that Lumwana Mine was opened by Levy Patrick Mwanawasa Posthumously because he attached his heart to this mine. MHSRP.
Too long have Bembas been saying “bakaonde balishalila”. Not any more. I see them showing up in NW province with humble faces and arms tacked behind, looking for employment . Now “bakaonde balitangila”