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Some of the world’s best mining companies are currently contemplating on taking over the assets for Mopani and Konkola Copper Mines for investments.
This announcement has been made by the Finance and National Planning Minister Situmbeko Musokotwane who could however not mention names of the mining companies interested in the two local mines.
Musokotwane emphasised that Government was working day and night to resolve the issues surrounding the two mines.
“We still have challenges with the old mines, that is KCM and Mopani copper mines. We are not sleeping to try and resolve these two mining issues. Once again I want to appeal for a bit more patience.
“So the process is a little bit long but we are almost getting there and then some of the people who are looking at these assets with a possibility of investing in them are some of the best mining companies in the world,” he said recently at the 2022 economic performance and 2023 outlook town hall meeting in Lusaka.
Read more: Vedanta, KCM face-off hurting Copperbelt economy, group petitions government
Musokotwane regretted that the reason why those two mines were non-performing was because of poor decisions that were made.
He explained that hasty decisions in an unfriendly environment were made, thereby leading to two mines to become non-performing.
Also read: Forum tasks government on KCM, Mopani mines
“So in reviving them, we want to make sure that the mistakes of hastiness, the mistake of choosing a wrong investor who comes in and gives you headaches are not being repeated.
“Unfortunately to get into that process, the credible investors who want to look at this ask a lot of questions. They want to check everything, it is not like buying a shirt. These are hundreds of billion of dollars to be poured in to bring those mines to something we will be proud of,” Musokotwane said.
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