President Hakainde Hichilema says the First Quantum Minerals (FQM) Kansanshi Mine Plc Sulphide (S3) Expansion Project, is a reflection of the private sector’s confidence in government.
The President notes that the establishment of such a huge US$ 1.25 Billion investment in Zambia, shows that the country is open for business.
Mr Hichilema, who was speaking at Kansanshi Mine in Solwezi District of North-western Province, when he officially commissioned the project, appreciated the unity among the workers, noting that their contributions are vital to the mine.
He stated that the S3 Expansion Project is a strategic driver to the country’s economic growth, citing the vision of turning the mining future in the country.
The President stressed the need to support the mines to increase production in line with the government’s three million target production output.
He assured that the government is committed to remain a partner to continue improving the mining investment environment for posterity.
Minister of Mines, Paul Kabuswe, noted that FQM is one of the highest single taxpayers in the country, attributing this success to the President’s vision and good leadership that activated the favourable investment environment in the country.
He explained that the project is one way of promoting the country’s economic growth through direct and indirect jobs.
Mr Kabuswe praised the government’s good policies that are in line with ensuring economic growth in the country.
And, First Quantum Minerals (FQM) Chief Executive Officer, Tristan Pascall, explained that the US$1.25 Billion investment is more than investment, stating that it’s a shared vision of prosperity for the country and beyond.
Mr Pascall said FQM remains firmly committed to community stewardship through technology that reduces emissions not just for the mine but also for the safety of communities.
He further emphasised the need for mines to improve lives within communities, citing the company’s corporate social responsibility through education, among others.
In her remarks earlier, British High Commissioner to Zambia, Rebecca Terzeon, explained that the S3 Project, will contribute to the increased copper cathode produced in Zambia.
Ms Terzeon stated that the expansion of the project is testament to FQM’s commitment to the Zambian people through long term economic growth.
She recounted President Hichilema’s vision for the Zambian government’s ambition to achieve the production of three million tonnes of copper.
“We are dedicated to ensuring that our investments contribute positively to Zambia’s development,” she stated.
And ZCCM-IH Board Chairman, Phesto Musonda,
Underpinned the government’s investment vision for the country.
He said ZCCM-IH which holds 20 percent stake in Kansanshi Mine, has through the mine royalty, received K1.4 Billion.
Mr Musonda said the company’s revenues that are actualised are meant to help the national goal such as the energy sector.
Meanwhile, in his welcoming remarks, North-western Province Minister, Robert Lihefu, highlighted that the province has become a beacon of economic growth.
He stated that the project has enhanced employment opportunities in the province, a milestone that he said must be commended.
