PRESIDENT HICHILEMA IMPRESSED WITH $1.35 BILLION FQM NEW INVESTMENT IN ZAMBIA

By Leah Ngoma 

President Hakainde Hichilema is happy with the announcement by First Quantum Minerals-FQM- to invest an additional $1.35 billion in Zambia. 

FQM has approved plans to invest US$1.25 billion in its long-awaited expansion of Kansanshi’s operations in Solwezi known as the ‘S3’ project and a final US$100 million to start its $250 million enterprise nickel project in Kalumbila. 

Commenting on this development when he gave a keynote address at the opening of the Mining Indaba in Cape Town, South Africa today, president Hichilema says these projects will help create and safeguard thousands of jobs, generate additional revenues and stimulate wider economic

activity. 

Meanwhile, President Hichilema has called for deliberate efforts on the part of African leaders and their partners to ensure sustainable development and management of mineral resources. 

The head of state is of the view that aggressive investment into exploration will unlock the undiscovered mineral resources and create enormous socio-economic impact that will not only lift many people out of poverty but create new wealth and prosperity. 

And President Hichilema says his government is committed to building a resilient and sustainable mining industry anchored on environmental, social and governance standards and best practice through addressing factors that constrain investment. 

PHOENIX NEWS 

 

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