By NATION REPORTER
THE Advocates for National Development and Democracy (ANDD) says Mopani Copper Mines must ensure that local contractors and suppliers are prioritised with regards to contracts once it starts operating optimally.
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ANDD Executive Director, Samuel Banda said this will help the country create the muchneeded jobs for local people as well as grow the economy.
Mr Banda is pleased that the government has signed a deal with International Resources Holding an equity partner to run MCM. “We wish to welcome the signing of an agreement between Government and International Resources, an investor identified as an equity partner to run Mopani Copper Mines. We are glad that this investor has committed to invest in more than US$1.1 billion for mining recapitalisation and development.
We want to commend Government for the decision it has taken to bring on board an investor to operate Mopani Mine, this is a progressive decision and development as it will help in restoring national economic and social development through Job creation, offering of business opportunities to local suppliers and contractors, we also expect our GDP to grow.
Mr Banda said once Mopani mine begins to operate at optimum level, it will contribute towards the three million metric tons copper production target per annum by 2031.
“Mopani when operating at optimum level, has a potential to contribute around 600, 000 metric tonnes of copper production towards the 3 million metric tonnes copper production target per annum by 2031.
When it is operating fully, it will help generate more forex which will consequently positively stabilise our national currency Kwacha to start trading at a fair rate against the major convertible currency the USD, as you may be aware that our kwacha has been depreciating at a faster rate against major convertible currencies due to low copper production output and low copper export volumes, Mr Banda said.
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