“This is the second time I have spoken at Mining Indaba since taking office in 2021. The last time I attended Indaba in 2022, we made the case that ‘now is the time’ to invest in Zambia’s mining sector. Since then, a number of investments have been made and are already bearing fruit”. These were the words of Zambian President Hakainde Hichilema at the 30th Investing in African Mining Indaba on Monday 5 February 2024 in Cape Town, South Africa. The theme of the event, which runs from 5 to 8 February 2024, is “Seizing the power of positive disruption: a bold new future for African mining”.
In terms of results, Hakainde Hichilema mentioned the start of production at the nickel mine, Africa’s largest nickel producer, following an investment of around 60 billion CFA francs by the company First Quantum Minerals. The company has also completed the expansion of the Kansanshi mine and smelter, investing more than 600 billion FCFA. In addition to this company, Moxico Resources started production at its Mimbula mining project in March 2023, producing 6,000 tonnes of copper in the first 9 months of operation. Kobold Metals, which uses pioneering artificial intelligence technology, has made significant progress in defining the orebody at its Mingomba project, following a 90 billion FCFA investment in 2022. Barrick Gold has doubled its commitment by investing 1,200 billion CFA francs to transform its Lumwana mine into a “super pit”, capable of producing 240,000 tonnes of copper a year when it comes on stream in 2028. China Non-Ferrous Mining Corporation has pledged an investment of 800 billion FCFA over the next 05 years for its various operations in Zambia, including 360 billion FCFA for the re-opening of Pit 28 at the Luanshya copper mine in Zambia’s Copperbelt.
This year, Zambia is coming to Indaba Mining with a new message: “Invest with confidence: and propel the future”, said the President. He added: “We reiterate our government’s commitment to making Zambia a reliable investment partner of choice on the African continent. Zambia has a stable and predictable mining, legal, regulatory and fiscal regime, as we committed to at the 2022 Mining Indaba. We have solved the inherited problems, and I mean the problems we inherited when we took office, at the Mopani mine and the Konkola copper mines,” insisted the Zambian president.
Hakainde Hichilema wished to reiterate his government’s commitment to positioning Zambia’s mining sector for future growth. To this end, Zambia has undertaken a nationwide geological mapping exercise to provide accurate geological data for the exploration of new mineral resources and deposits. “We are encouraging diversification through this mineral exploration exercise to confirm resources in rare earths, lithium, gold, manganese, graphite, sugilite, and of course carbon dioxide”, according to Hakainde Hichilema.
To achieve this, Zambia is working with local and international partners to boost energy and transport infrastructure, which will help support its mining ambitions.
Zambia has opened up the energy market to private sector players through the open access regime and facilitated lessee guarantee financing, allowing mining companies to finance captive power to power their expansion projects. The country has also planned a railway modernisation project to facilitate market access for mining operations based in the country.
The memorandum of understanding was signed with the Democratic Republic of Congo and the United States to develop an integrated value chain for the production of electric vehicle batteries locally in the two African nations. “We are appealing to technology companies to carry out geological mapping, to financiers to finance ambitious projects and to energy companies to strengthen our infrastructure”, concluded Zambian President Hakainde Hichilema.
@eliekabore, Cape Town, pour #Mines_Actu_Burkina
