Q FM Africa's Modern Radio
The chamber of mines says the dual investments announced by first quantum minerals ltd, totalling $1.35 billion, will have a transformative effect on the mining industry and the wider Zambian economy.
First quantum has announced that it will inject $1.25 billion towards expanding production at its flagship Kansanshi mine in Solwezi, extending the life of mine until well into the 2040s, further approving a final investment of $100 million, on top of $150 million already spent, to get its enterprise nickel mine into production within 12 months.
In a statement, Zambia chamber of mines chief executive officer, Sokwani Chilembo says the investment secures an ever-brighter future for Kansanshi and the copper industry in northwestern province.
Mr Chilembo adds that this establishes a whole new level of excellence with the advent of enterprise as a global top 10 nickel mine.
He adds that the investment is not just a success for first quantum and the government, but a massive success for Zambian businesses and Zambian jobs as it is likely to translate into tens of thousands of jobs created throughout the economy.