Association demands due diligence on selection of investors for Mopani mines

Association of Mine Suppliers and Contractors (AMSC), an organization that protects the interests of individuals and companies doing business with the mines says a due diligence is needed on the selection of new investor for Mopani Copper Mine.

AMSC president Coster Mwaba said in an interview on Wednesday that in as much as stakeholders want a viable Mopani like ‘yesterday’ government should not hastily pick an investor saying time to correct past mistakes was now.

“We shouldn’t rush into handing over Mopani without doing due diligence, for now ZCCM-Investment Holding should continue investing in Mopani and Konkola Copper Mine (KCM), even if it takes six months to a year. We need proper investors because the time to collect things is now,” Mwaba said.

He said a would-be investor for Mopani as well as KCM should commit to a robust supplier and contractor development that improves the capacity to execute works while ensuring technological transfer .

Mwaba also urged the Government to consider his association as it consults various stakeholders on the future of the two mines.

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He said the desire of the association was that ZCCM-IH retains a minimum of 49 percent shares in Mopani adding that should there be local investors eying Mopani, they should be prioritised.

Mwaba said it was encouraging that more than 10 investors were eying Mopani.

“It is good that the Minister of Mines and Mineral Development Paul Kabuswe talked about 10 companies that have expressed interest to invest in Mopani, our position remains that KCM and Mopani remains viable assets. it doesn’t matter the current state in which they are,” Mwaba said.

He said the two mining giants’ mineralisation reports were available to which investors had been looking at and that each have immense potential.

Kabuswe recently disclosed that more than 10 foreign investors have expressed interest in buying Mopani.

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