According to President HAKAINDE HICHILEMA, the administration has been able to secure funding that would enable Mopani Copper Mines increase copper production and streamline operations.
Mopani is one of the mining companies, according to President HICHILEMA, that will help the government achieve its goal of increasing copper production to 3 million tonnes in ten years.
He claims that the government has made strides in resolving further important concerns pertaining to the Mopani and Konkola Copper Mines (KCM), which will be made public by the end of the next month.
President HICHILEMA stated that the government is also striving to improve operations at Lubambe, Chambeshi, and also restructure operations at Luanshya Copper Mines during a breakfast show on SUN FM in Ndola.
According to him, the country’s economy is based on the mining sector, therefore resolving the problems at KCM, Mopani, and Kansenseli Gold Mine in North Western Province will be good for both the populace and the economy.
The President also gave Zambians assurances that VEDANTA and KCM-related disputes will be settled out of court.
Furthermore, according to President HICHILEMA, the administration is considering finding a way to pay off the nation’s debt, which has reached $19 billion.
He stated that the government plans to sign an MOU with the committee of creditors by the end of the next month in order to assist with the restructuring of the nation’s debt.
The framework will specify how much the nation owes as well as the interest that has been frozen and the amount due when default occurs, according to President HICHILEMA.