Minister of Mines and Minerals Development Paul Kabuswe says Government will be relying on partners such as Non-Ferrous China Africa (NFCA) mining to actualise its dream of ramping up copper production to three million tonnes by 2031.
Speaking when he officiated at the NFCA’s 25th anniversary in Zambia at a ceremony in Chambishi on Monday 25th September 2023, Mr. Kabuswe said Government will continue levelling the playing field in the mining sector so as to encourage investments from giants such as NFCA.
He said NFCA’s presence in Zambia in the last 25 years in no mean achievement or coincidence but a confirmation that the country is a good investment destination.
The Minister praised NFCA for investments exceeding US$1.5 billion as at the end of 2022 and contributing over US$350 million to the treasury though taxes.
“I am confident that the planned expansion of the South East Ore Boady, which will result in increasing copper production to 110,000 metric tonnes, will come along with an employment boost and technological transfer, looking at the level of automation,” he said.
NFCA Chief Executive Officer Zhamyan Li said the company’s investment has culminated into the creation of about 5,600 local jobs over the years.
Mr. Li also said the company plans to invest another US$400 million that will create 2,400 jobs and increase annual copper production to 110,000 tonnes.
NFCA Group Chairperson Xi Zhengping said President Hakainde Hichilema’s recent visit to China will inject new impetus into Zambia’s social and economic development agenda.
ZCCM-IH Board Chairperson Kakenenwa Muyangwa said the company appreciates NFCA’s level of commitment to Zambia as evidenced by the payment of US$10.1 million in dividends to ZCCM-IH in 2007, 2008, 2011 and 2022 respectively. Mr. Muyangwa said the board appreciates the level of commitment by NFCA in expanding the mine and creating jobs for the local people.