First Quantum Minerals Limited (FQM) has applauded government over its decision to begin funding local investors to enable them invest in the mining sector.
FQM Company Spokesperson, Davis Mulenga, said the decision by government to begin funding local investors is a positive move that will facilitate the expansion and development of the mining sector.
Mr Mulenga said investment by local investors in the mining sector will meet social and economic needs for Zambians as they will benefit from the abundant mineral wealth of the nation.
He said funding from government to local investors will facilitate the creation of home-grown companies that will enhancement generate income from foreign exchange which will contribute to economic development.
Mr Mulenga said the dedication of government to advance the mining sector will build the capacity of local investors to meet the demands of the mining industry.
He added that the move is in line with the Patriotic Fronts Government’s commitment to creating more jobs for the Zambian people which will be made possible through the expansion of the mining industry thus reducing levels of unemployment especially among the youths.
Mr Mulenga has since commended government for taking a leading example to companies in the mining sector on their need to invest in building the capacity local investors in the mining industry.
He said it is for this reason that the First Quantum Mine has engaged in entrepreneur training of local business in North-Western Province to enable them become competitive entities in regional and international markets.
This is contained in a press release to ZANIS.
Good evening
A good move but I’m just wondering how significant it is for FQM to applaud it seeing that they are on the other side of the fence? (foreign investors).
Empowering local investors is a good thing but eventually, it would be better if the state itself would be the major investor in the mines because at the end of the day after getting his returns, an investor will pack up his machinery and go but the land and the minerals will (and must) remain for the people of Zambia.
Because they know that positive results will come from this. Govt does to have money to fund a big mining project apart. Am sure they will only manage the Gem stone sector or may be it anothe Euro bonding!!!!!
Mr Mulenga is speaking like a cadre!
the scandal continues
FQM confiscates $ 600 million benefit of ZCCM (from kansanshi mining) ! and during this time FQM congratulated the Government
the situation is the biggest scandal of Africa and the Zambian government does nothing!
The mining secter has just to give shares back to the locals and govt while the invester holds back say 60%,it works every where in the world. Zim ,Botswana etc,voted PF hoping they would stop this mineral plunder that doesn’t benefit the poor local Zambian.empowerment using local resources is the best nt euro bond alone.PF well done.
Good idea for as long as it will not just benefit PF cronies.