30 April 2011
President Rupiah Banda has pledged to ensure that Zambians get the full benefits of the mining industry in Zambia.
President Banda said he was fully aware of concerns that Zambia was not getting the full benefits of the mineral revenue especially with the removal of the windfall tax.
He said however that there was need for the country to achieve a balance on the needs of the country and those of the investors in order to allow them continue investing in Zambia. The president said this during the launch of Kalumbila Mine owned by First Quantum Minerals in Solwezi yesterday.
The President told the audience that included among others FQM chairman and chief executive Phillip Pascal and senior chief Musele of the Lunda people of Solwezi
that his government would continue to ensure that the financial resources derived from the mining sector, were used to invest in infrastructure development and increase access to quality basic social services.
He said the country had already seen increased infrastructure development and agricultural activities in North Western province with the development of Kansanshi and Lumwana Mines and that a third mine in the area would reflect on the appropriateness of Zambia as a preferred investment destination.
President Banda also noted the need to expand the hydro power generation and supply to meet demand by the mining sector and that this would also hasten the rural electrification and development of the road network that would open the western corridor to Angola.
He expressed happiness that some mining companies had continued supporting various initiatives at community level to uplift their living standards.
And First Quantum is expected to re-invest more than US $1 billion to develop three potential large scale mines to be collectively called Trident mine.
The three include Sentinel at Kalumbila, Enterprise at Kawako and Interpede at Kawanga, all in Solwezi District.
The project is expected to employ more than 2, 000 people when operations commence.
Trident would be one of the three large scale mining operations in North Western Province after Kansanshi and Lumwana mines.
President Banda said Zambia’s annual copper output would reach one million tonnes by 2015 due to government’s good mining policy.
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Taken from:
Citizens Will Get Full Mine Benefits – Banda