US Firm Commits Billions to Establish Mineral Refineries in Zambia
A prominent American corporation, Critical Resources Development, has unveiled ambitious plans to invest a substantial sum exceeding ten billion US dollars in the establishment of three advanced mineral and Rare Earth element refineries within Zambia.
These state-of-the-art refineries are slated to be strategically positioned within Multi-Facility Economic Zones situated across the Copperbelt region’s central and northern provinces.
In a recent interaction with local traditional leaders from the Copperbelt area, the President of Critical Resources Development, Chris Robinson, articulated the company’s commitment to generating significant economic opportunities.
Robinson highlighted that the projected investment will facilitate the creation of around 3,000 employment positions within the first three years of refinery establishment.
Elaborating further, Robinson indicated that an initial financial injection of approximately 500 million dollars is poised to be injected into the venture within the coming days.
The comprehensive development of the refineries is projected to span a timeline of 24 years, leading to full operational capability.
Oncemore Ngonomo, the District Commissioner of Luanshya, emphasized the government’s proactive stance in formulating policies that aim to ensure equitable access to mineral resources, subsequently fostering balanced benefits for all stakeholders involved.
Chief Nkambo, representing his fellow chiefs from the Masaiti District, expressed their collective anticipation for tangible progress and implementation of the project, echoing the sentiment that their satisfaction hinges on witnessing the successful realization of the endeavor.
