LOCAL AND INTERNATIONAL INVESTORS TAKE KEEN INTEREST IN OPERATIONS OF CHAMBESHI METALS……

Government says a number of local and international investors have expressed interest in taking over operations of Chambeshi metals which was placed under care and maintenance.

Mines Minister Richard Musukwa says the firm has since been directed to resume operations in the next three months.

He was speaking in Johannesburg, South Africa , en-route to Cape town where is leading a team of officials from Zambia Revenue Authority, ZCCM- IH and Ministry of Mines to this year’s mining conference.

Mr. Musukwa said government rejected the plan by the mining firm to halt operations for two years due to operational challenges.

He said management of Chambeshi metals has been asked to invest in a processing plant that would treat the kind of material the firm has.

Mr. Musukwa said the processing facility that Chambeshi metals was currently using was unable to adequately treat its concentrates, hence, resulting in operational challenges.

He dispelled claims that the firm had halted operations due to the five percent tax on concentrates, adding that government was ready to give a special waiver to the mining firm in order to remain operational.

Mr. Musukwa has since assured the investor community that Zambia was a jurisdiction that respected the law, as such, there investment was safe.
“Government was open for investments and was willing to dialogue with the industry on all matters that affected the growth of the mining industry in order to foster growth of the sector” he explained.

And Mr. Musukwa said three more mining firms are this year expected to start mining operations adding that this would enable government meet its projected copper production target of eight hundred and fifty thousand metric tons for this year.

Mr. Musukwa mentioned that the outlook for the mining sector was positive as most of the challenges that the sector faced last year were resolved.

This is according to a statement issued to Smart Eagles by first secretary press and public relations at the Zambian High commission in South Africa Naomi Nyawali.

Source SmartEagles2020