Mopani Copper Mines Relaunch Marks New Era for Zambia
In a historic event for Kitwe, the Copperbelt, and Zambia’s mining sector, Mopani Copper Mines celebrated its revitalization, heralding a significant economic shift for the region and the nation.
President Hakainde Hichilema expressed deep appreciation for the collaborative efforts that led to the relaunch, emphasizing the meticulous negotiations with International Resource Holdings (IRH) from Abu Dhabi.
The partnership, characterized by mutual respect and equitable benefits, ensures Zambian citizens retain a 49% shareholding through ZCCM-IH, showcasing a commitment to national prosperity.
IRH’s $1.1 billion investment marks a groundbreaking milestone, representing the first substantial investment from the United Arab Emirates (UAE) in Zambia.
This investment is poised to catalyze further economic growth, with prospects of additional investments in green energy and other sectors.
To bolster local suppliers, Mopani has initiated a Supplier Development Program, aimed at enhancing the capacity of Zambian businesses by providing access to capital and business development services.
This initiative underscores the commitment to fostering local economic empowerment and sustainable growth.
President Hichilema urged Zambian businesses to draw inspiration from the UAE’s success in managing its oil resources and transforming its economy.
The partnership with IRH signifies a step towards leveraging international expertise to propel Zambia’s economic development.
The Zambian government extended heartfelt gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi and President of the UAE, for his unwavering support in strengthening ties between the two nations.
Recognition was also given to His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of IHC, for his role in facilitating the partnership.
