The anticipated $150 million investment in the Mungomba mine, according to the Zambia Chamber of Mines, is evidence that Zambia has developed into a desirable investment destination.
Yesterday, the California-based exploration company KoBold Metals declared plans to make investments in the mining sector in Zambia.
The chief executive officer of the Chamber of Mines, SOKWANI CHILEMBO, claimed in an interview with ZNBC News that the Lubambe mine has resources of cobalt as well as other minerals necessary for the creation of electric vehicles.
This is crucial for Zambia as it plans to advance the development of electric vehicles, according to Mr. CHILEMBO.
He said that the investment would increase the number of jobs available to citizens.