Zambia News

ZCCM-IH, Kansanshi Mine Deal Approved by the Chamber of Mines

The 3.1 percent revenue-based royalty that ZCCM-IH has agreed to pay First Quantum Minerals on the Kansanshi Mine is a top-of-the-line deal, according to the Chamber of Mines, when compared to similar contracts elsewhere in the world.

The arrangement, according to Chamber of Mines Chief Executive Officer SOKWANI CHILEMBO, is advantageous since it ensures ZCCM-IH will have a steady stream of money to carry out their plan of becoming a significant participant in Zambia’s mining sector.

People who criticize the agreement, according to Mr. Chilembo, should not invent information, especially because the pact puts an end to legal challenges that have harmed the nation’s prestige.

He claims that the end of hostilities between the government and FQM is crucial because it gives investors who want to invest in Zambia comfort on the international stage.

The nation needs more investors, says Mr. Chilembo, in order to reach its goal of producing 3 million tonnes of copper yearly.

Back to top button