The Hakainde Hichilema administration says the development means the following milestones:
Some notable highlights President HH will preside over the official opening of Mopani Copper Mines in Kitwe tomorrow, 21st March 2024;
1. The new investor, International Resources Holding (IRH), has so far injected $130 million into Mopani Copper Mines, demonstrating a strong commitment to the mine’s growth.
2. The revitalised mine is projected to generate 2,000 direct jobs and an additional 1,000 indirect employment opportunities.
3 Mopani Copper Mines will retain over 80% of its current workforce, ensuring continuity and stability.
4. Significant progress has been made in settling outstanding payments, with approximately 80% of contractors and suppliers already paid.
6. The shareholding structure of the mine stands at 51% for IRH and 49% for the Zambian Government, highlighting a balanced partnership for mutual benefit.
7. Under President Hichilema’s leadership, Government has successfully reduced Mopani’s debt from $1.5 billion to $300 million, showcasing a commitment to financial stability and responsible management.