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Alba Iulia
Wednesday, February 8, 2023

Govt urged to ensure actualising of investment pledges

EconomyGovt urged to ensure actualising of investment pledges

National Union of Miners and Allied Workers has government to ensure that mining companies pledging huge financial investments actualize their pledges.

NUMAW Treasurer Saul Simujika says unlike that in the recent past where some investors made investment pledges that have never been actualized up to date, the new dawn government should be on top of things in ensuring the actualising of investment pledges.

ZANIS reports that Mr Simujika said it is very important that the new dawn government takes a leading role in actualisation of investment in terms of supervising mining companies despite its minority shareholding.

He said government should have the final whip to ensure that the pronouncements by mining investors do not end as mere lip pronouncements that are never fulfilled.

“ We got the news that First Quantum Minerals will be able to invest quiet substantial amount of money in their business, what we are expect is that when this money is ploughed into the business, it should translate into increased production, expansions on mining projects and improved conditions of service for workers,” He said.

And Mr. Simujika says the unions further expect increased job creation from the mining company as it injects the pledged investment.

Recently, during the Mining Indaba in South African where President Hakainde Hichilema gave a keynote speech, First Quantum Minerals pledged to invest $1.25 billion in an expansion programme of Kansanshi Mine.

The expansion project is expected to extend the life spun of the mine to around 2040 and increase copper and gold production by about 25 per cent.

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