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The management of KoBold Metals says it will ensure highest level of corporate governance and transparency as it commences operation in Zambia.
It added that it would not be nepotistic in hunting for talents, as Zambia’s first artificial intelligence-driven exploration of Mingomba site commences.
Read more: KoBold Metals to unveil Mingomba deposits Thursday
The American Ambassador to Zambia, Micheal Gonzales, spoke to these issues during the launch of the Mingomba exploration site on Thursday in Chililabombwe District.
Gonzale told a gathering attended by President Hakainde Hichilema’s Special Assistant on Economic,Investment and Development Affairs, Jito Kayumba,
Co-founder and Global President for KoBold Metals, Josh Goldman, Chief Executive officer, Mfikeyi Makayi, and ZCCM-IH representative that American private sector will not engage in corrupt practices.
“American businesses are not like those who come in paying off officials, offering bloated debt financing shrouded in secrecy with more than a little “ka something,” employing mostly their own while exploiting Zambian workers, damaging the environment, and under-declaring yields to avoid taxes that would benefit the Zambian people,” he said.
Gonzale further stated that unlike these others, American investment was transparent, accountable and will benefit both Zambia and America.
He said this would help unleash Zambia’s great potential.
Gonzale indicated that the United States believes in President Hichilema’s vision, stating that Zambia had great potential.
He said the United States government was investing to seize this moment to partner with Zambians to turn the country’s long-latent potential into an economic reality.
“President Hichilema has set an ambitious target to increase copper production and, as you can see today, the United States will be a major contributor toward that. KoBold Metals will be a major contributor toward that,” Gonzale said.
He said more than US$150 million has been invested in the project.
Speaking earlier, Josh Goldman, said the drilling is already underway at the site which initial investment is US$150million, with positive signs of mineral resources being identified.
Goldman said KoBold Metals secured the exploration and development rights to the Mingomba deposit in December, 2022 and is pioneering digital exploration by applying statistical modelling and big data aggregation.
He said KoBold uses Artificial Intelligence and other cutting edge technology to power clean energy future in its search for critical minerals like Copper, Cobalt, Nickel and Lithium.
Zambian official, Jito Kayumba, appealed to the company to engage local contractors and suppliers during their operations in the country in order to spur economic growth, not only for Copperbelt but the country at large.
ZCCM-IH Chief Technical Officer, Tisa Chama, said: “We believe in the achievement of this vision of developing a mine in the shortest possible time in a socially responsible manner.
“This will require the continued commitment to the mutually rewarding partnership which has brought us this far and is set to deliver sustainable benefits to all stakeholders; the host community, the partners in the project and the country at large. Indeed, barely a year into this project, KoBold has demonstrated the value-creating capacity of a true partnership, through its speed in the manner the works are being undertaken.”
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