We express our profound gratitude for the re-launch of Mopani Copper Mines in partnership with our new joint venture partners, International Resource Holdings (IRH) from Abu Dhabi. This moment, long awaited by our citizens, is not a handover but a meticulously negotiated partnership with IRH that represents mutual respect and equitable benefits. Our citizens will retain a 49% shareholding through ZCCM-IH, affirming our commitment to national benefit.
The $1.1 billion investment from IRH marks a significant milestone, being the first substantial investment from the UAE in Zambia, with more expected in green energy and other sectors.
To support our local suppliers, Mopani has initiated a Supplier Development Program aimed at bolstering the capacity of Zambian suppliers by providing access to capital and business development services.
We urge Zambian businesses to draw inspiration from their counterparts in the UAE, who have transformed their economy through astute management of their oil resources.
Our country extends heartfelt thanks to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi and President of the UAE, for his steadfast support and for strengthening the ties between our countries. We also wish to acknowledge His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of IHC.
Hakainde Hichilema,
President of the Republic of Zambia.