Mopani Mines claims K341 million paid as tax after takeover by Internal Resources Holdings

Mopani Copper Mines claims to have contributed K341 million to the treasury after the takeover by Internal Resources Holdings (IRH) in March, this year.

This was disclosed when IRH Chief Financial Officer, Abhinay Khowala, paid a courtesy call on Finance and National Planning Minister, Situmbeko Musokotwane, in Lusaka on Tuesday.

“The rejuvenated Mopani has paid K341 million (approximately USD$13 million) in taxes since its takeover by IRH in March, 2024,” Khowala said in the statement by the Ministry Finance.

He also claimed that since the revival of Mopani by IRH and the Zambian government, there had been a great deal of enthusiasm among the workforce.

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“We are all excited to contribute to the viability of Mopani and the growth of the Zambian economy,” said Khowala.

He described Zambia as a mining paradise hence his firms’ keenness to ensure that Mopani ramps-up production to optimum levels by putting in place efficient systems of production, mine administration, and supply chain management.

He was accompanied to the Ministry by IRH Finance Director, Frijo Francis, and Mopani Tax Manager, Chikusi Banda.

In turn Musokotwane said the people of Zambia had high expectations for the investment that IRH has made in Mopani.
“This is why the start you have made in meeting your tax obligations is a step in the right direction” for job creation, company stability, and expanded business prospects,” he said.

The Minister took the opportunity to affirm the government’s business facilitation policy stance aimed at growing the economy in a sustainable and competitive manner.

Musokotwane also informed the visiting team about the availability of other investment opportunities in mineral exploration, mine development and value addition.

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