Massive Investment Boost Predicted for Zambia's Mining Sector
In a significant economic development, Jito Kayumba, the Special Advisor to the President for Economy, Investment, and Development Affairs, announced that increased investments in Zambia’s mining sector are expected to bring about a substantial financial injection. Mr. Kayumba highlighted the projections during a prelude to the 2024 Mining Indaba in Cape Town, South Africa, themed “Embracing the power of positive disposition; a bold new future for African Mining.”
According to Mr. Kayumba, the new investor in Mopani Copper Mine, International Resource Holdings, is set to be a game-changer. The projections indicate a staggering increase in copper production from the current 225,000 metric tonnes to an impressive 600,000 metric tonnes. This surge in production is anticipated to result in a substantial financial influx, estimated at 1.4 billion US dollars.
Speaking on the developments, Mr. Kayumba emphasized the positive impact such investments could have on Zambia's economy. The mining sector has long been a cornerstone of the country's economic landscape, and these advancements signal a promising era for growth and development.
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