ZCCM-IH IH Board Chairman Phesto Musonda says the recently launched S3 plant at Kansanshi Mine represents a major milestone in Zambia’s investment portfolio, signaling renewed investor confidence in the country’s economic management and governance reforms.
Mr Musonda stated that the S3 project aligns with government efforts to stabilize the mining sector under the UPND administration, which is now in its fourth year.
Mr Musonda emphasized that no investor would commit such a substantial amount without trust in Zambia’s operating environment.
Mr Musonda commended President Hakainde Hichilema for commissioning the US$1.25 billion Kansanshi Mine S3 expansion project, an investment by First Quantum Minerals (FQM).
He told ZANIS in Lusaka that the project reflects the improved investment climate in the country.
“The S3 is a significant milestone in our investment portfolio. This project will secure existing jobs, create new ones and raise copper output across all our Zambian operations. The launch of this project symbolizes progress in stabilizing the mining sector,” he said.
Mr Musonda also praised government for implementing sound economic policies and ensuring a stable financial foundation for the energy sector.
“An investment of this magnitude will irrevocably alter Zambia’s mining landscape, ushering in a new era of production, technological advancement, and sustained economic contribution from North-Western Province,” Mr. Musonda added.
ZANIS reports that the Kansanshi S3 expansion is one of the largest private-sector investments in Zambia in recent years and is expected to strengthen the country’s position as a reliable source of strategic minerals while contributing to long-term economic growth.
Last week, President Hichilema launched the S3 plant, describing it as a ‘game-changer’ for improving Zambian livelihoods.
The expansion project aims to extend the life of Zambia’s largest copper mine by 25 years and boost annual copper production to 240,000 tonnes by 2029.
