Monday, December 9, 2024

Zambia Welcomes Anglo American Corporation’s Return to Mining Sector

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Chief Executive Officer, Duncan Wanblad,In a landmark meeting, President Hakainde Hichilema welcomed a delegation from Anglo American Corporation, led by the company’s CEO, Duncan Wanblad. This visit signifies Anglo American’s renewed interest in Zambia’s mining sector, marking a potential return after nearly two decades.

With Zambia’s ambitious target of reaching 3 million tons of annual copper production, partnerships with major mining firms, including Anglo American, are considered essential to achieving this goal. President Hichilema expressed optimism about the company’s renewed commitment, emphasizing the critical role reputable international players like Anglo American could play in helping Zambia meet its mining production objectives.

“Our government remains committed to creating an investment environment in the mining sector that will benefit our people and grow the economy,” said President Hichilema. He highlighted that a stable, favorable investment climate relies on continuous dialogue, particularly concerning the policy and legal frameworks guiding the industry.

To this end, the government is collaborating closely with the Chamber of Mines to ensure that Zambia’s mining sector is governed by policies that attract investment while prioritizing local benefit and economic growth.

As Zambia sets its sights on transforming its mining potential into tangible economic gains, yesterday’s meeting underscores the nation’s commitment to fostering international partnerships that drive sustainable development in the sector.

29 COMMENTS

  1. Don’t mess around with the Chief Privatization Officer. All natural resources will be sold in a methodical way. Most of the returns will be in offshore accounts! Viva Zambia

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    • What brings them back?
      Is it tax incentives?
      Is it New dawn leadership?
      Let Zambians benefit from mining
      Investors by holding a fifty percent
      Share.let all mines generate their
      Own power as we are grappling with little power generated.

    • Everyday new investment but nothing to show for it….Dollar again at K28???

      What is wrong with us?

      60 years after independence and we are still depending on mining which destroys our environment and uses all the electricity that is generated by our Hydro Electric Plants. Getting excited over nothing!

      Kenya, Uganda and Tanzanian economies are ahead of Zambia’s and they depend on agricultural and tourism!!!

      Shame on us!

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    • Zambians only make copper eagles sculptures to sell to white people (again) by roadside.
      Why not just give the all copper to same white people instead, so they can make useful things. They dig minerals, they take to their country, and then they bring back a huge Cooling tank and all Fcking Zambia go wild leave offices to go watch. Even police escorts.

    • He who squanders our generational wealth shall never find peace and the spirits of our ancestors will continue to haunt him.

  2. They abandoned KCM after their man Andy lost to LPM. Zambian copper is sweet. They’re back to possibly reclaim their asset as the Indian has no capacity to run it. It’ll be yet another complex offshore transaction

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  3. There is absolutely nothing wrong with any invester coming here providing the right deal is set up
    afterall they here to make money for their shareholders
    These deals unfortunately are decided by one man and that maybe where the problem lies

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  4. Zambians cant even run tu temba and want to critize anglo american…you have given all small shops to burundi and rwanda then you are out hear na mulomo.

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    • This news item is incomplete. It has failed to show where Anglo America Limited wish to set a mine. Hence people speculating about the miner coming to reclaim KCM ownership. Haven’t they been given drilling licence in NWP and may be established there? Are they partnering with already running mines?

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  5. Let credible investors like Anglo cone and help us create jobs. Why do you want to politicise ……. We know that you have even failed to employ one person, you have surrendered your hectare of land and uncompleted shop to those who have the capacity and ability and you have failed to organize your political party. And as failures ,,,,,,, please seleniko babombeko bakabomba. We want More jobs

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  6. Who in their right mind would say no to Anglo American over Vedanta? It is the quality of investment that matters more so on CSR.

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  7. 90 % of South Africa companies are owned by western countries. France has 100 companies in South Africa. everyone is rushing to SA for better life. So let the investors develop the mining industries. Zambians we are good at talking. Action zero.

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  8. Out dated thinking of colonised mind. This Govt cannot think beyond its nose. They have their mind fixed on the outsiders to develop their economy, Shame!!

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    • That’s because you as Zambians have failed…….

      As some one said above , even local komboni shops are run by foreigners…….

      And you think you can run mines ???

      Forwadee 2031

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    • Shame what ??? The only 60 yr change for rural areas is we changed from thached roofs to malata
      and mud bricks to concrete blocks Oh sub standard clinics and schools

  9. These chaps bought Nchanga, Konkola, Nampundwe and SmelterCo. But as soon as Anderson Mazoka lost the election to Levy Mwanawasa they abandoned their new acquisition. Up to now I don’t understand why a normal person can just leave all that investment… and at short notice. Levy Mwanawasa had no option but to bring in Vedanta.

  10. So what now happens with the Kabwe lead poisoning case against Anglo? They deny any responsibility as if people didn’t know lead was poisonous in 1974. Can we expect any help with the cleanup, if not a few crumbs from the high table

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  11. This news is incomplete. It does not tell us where AAL are setting their eyes on. No wonder people are speculating about them coming to wrestle ownership from Vedanta because they previously owned that mine. From 2012/2013, AA has been doing reconnaissance and prospecting in NW Province. I think they may land in the new copperbelt.

  12. Every country is fighting for investment, a lot of western companies are owned by the Arabs, the Chinese, Japanese and other people with capital. They don’t cry and scream about their resources, what they do is negotiate sensible agreements where they gain from well paid jobs, taxes that are meaningful and making sure that foreign exchange movements are well monitored and regulated.
    Your leaders connive to inflate tenders, sell mukula, gold crookedly and you still blame others for the greed of your leaders and lack of smartness. More baffling, you still want them back or maintain the looting.
    Lots of immoral people around, they are part of the looters and can be identified by their comments. Shame on the looters, the corrupt whether from PF, UPND etc.

  13. You are talking of yesterday Anglo who built houses, schools, hospitals, stadia and employed a lot of Africans…. the modern Anglo will not do these things…. will always find a way of employing their own people and giving business to their own people. Don’t raise hopes… just like the Chinese they don’t want to employ our people and one tact is to pay very low salaries which forces people to leave…. Iam talking from experience.

  14. Since 1964, Zambia`s copper production has fluctuated. For example, copper output in 1969 peaked at 750k tons with population of 3mil. By 2023, Zambia produced 698k tons of copper with population of 20mil.
    On average, since independence, has been producing around 700k tons.

    For the first time you have a leader in HH, putting forward a vision to strive for 3 mil tons by 2032, so as to become the second largest producer in the world.

    HH has a vision, not the misinformation being spread by PF and its minions that HH is selling the mines. The current forecasts is 1 mil tons reached by 2026, being the first reaching such high production level.

    Do you really think you can achieve 3mil tons with just Zambian capital investments? Just think about it, and make your own honest assessment.

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