FIRST Quantum Minerals (FQM) chairman Philip Pascall has praised President Michael Sata for demonstrating strong commitment to boosting investor confidence in the Zambian economy.
Mr Pascall, who is also FQM chief executive officer, said the decision to proceed with Sentinel Copper Mine “strongly” validated Mr Sata’s pledge to see greater investment that was mutually beneficial to investors and Zambians.
The acknowledgement comes barely days after FQM announced a go-ahead for full construction of the company’s K8.8 trillion (US$1.7 billion) Sentinel Mine, the first of the three potential mines at the Trident project in North-Western Province.
The decision followed confirmation from Zambia’s State-owned electricity company, Zesco, for the connection and supply of power to the mine.
“We greatly appreciate the efforts of Honourable Christopher Yaluma, Minister of Mines, Energy and Water Development for his leadership and tireless efforts in guiding the project to this stage.
“We also wish to thank Cyprian Chitundu, managing director of Zesco and Andrew Chipwende, CEO of the Zambia Development Agency and their teams for their valuable and constructive input,” Mr Pascall said.
He reiterated that Sentinel would be a major catalyst for the diversified growth of the Zambian economy, and would significantly augment the benefits and opportunities for Zambians.
[Times of Zambia]
Haters will continue hurting.
bakalalilafye bakolwe. sata tubombele mwandi tata
**===d>^:)^:d:-t
He mentioned Yaluma, Chitundu and Chipwende. Where are the praises for Sata? Is it overally and implicitly as head of state? Zambian journalism… Any way it is a good thing for our economy. Let them start adding value to blister copper locally so we can fetch more dollar for us.
Weasels, what’s your uptake?
while they are happy lets hit them with all sorts of taxes
Congratulations to the technical team that involved. For the first time, you worked silently and only when things reached fruition, you announced. This is what will make you popular. Talk less, act more. I wish you had done the same with rebasing of the Kwacha. Actions speak louder than words. And to that grade 7 constable police officer now called President, keep showing them that you mean what you mean; and you will add value to our great country than those who purport to be educated. Let them insult you bwana, but love them for they do not know what has hit them. Strategy hit them hard!!
MORE PEOPLE TO HAVE MONEY IN THEIR POCKETS. EVEN ME I CONGRATULATE THE PF GOT FOR THAT. APPROVE WITHOUT STRINGS ATTACHED. NO NCEKELAKO. AS #5 HAS SAID PF MUST LEARN TO PLAN SILENTLY AND JUST ANNOUNCE THE COMMENCEMENT TIME AND EXPECTED FINISH TIME OF THE PROJECT. THEY ARE IN GOVT- THE NEED FOR DRUMMING DOES NOT EXIST. ENCOURAGE COMPANIES TO OPEN UP MINES IN LUAPULA PROV. WHICH SITS ON HUGE MINERAL DEPOSITS, TOO.
Didn’t RB start arrangements for these mines. Sata is reaping praise where he did not sow. It is good though that he is continuing with RB’s programs. I think he has learned lessons from Kafupi’s mistakes.
wanya rb kwisa? its sata at work baba
Some praise after some deals
The project was briefly stopped for nchekeleko purposes.
Ati umunthu wa nyowani antemwe, ala! Anyone who goes by the name Phillip is never to be trusted, esapecially if its Musonda or Pascal.
Credit should go where it`s due. Nevertheless, development should invariably be reflected by the community`s economic and social upward mobility.
Not to be credulous, time for diversification is now, while the sun still shines
We really need to develop our infrastructure from the copper earnings. Especially our roads. Let’s have more interconnectivity.
Mines all over.Zambia ikashala fye ifilindi fyekafyeka and all these infestors will have infested our country and gone for good.Wake up my president,lets diversify to other things and spare our soil from being taken away.For now with the fertile soil being taken away in the name of minerals,lets concentrate our efforts on farming and come back to mining in future.We will benefit greatly more than now.
Good afternoon
There it is! It is refreshing to see that there are also other people who appreciate what President Sata is doing for Zambia without any tribal or politically motivated feelings.
Ever since PF took over leadership, some people will just not accept the role of an ally and are permanently in opposition. From the rising of the sun to the setting down of it, they are busy trying to pull the President down by discrediting everything he does. But guess what? Just like God delivered Jonah from the belly of the whale, He will not allow anyone to swallow up his chosen leader until his own appointed time is fulfilled.
God loves Zambia so God will crown president Michael Sata with success! Can I get an Amen?!!
I will give you three boss
Business as usual between cronies… like chiluba’s era, Banda’s era
where is the change ?!
FQM (Kansanshi mining) owes ZCCM-IH $517 million although Kansanshi makes huge profits and ZCCM-IH owes govt $320 million , and in the same time, zambia has to increase its sovereign eurobond debt from $500m to $700 million
why does Yaluma not require repayment of this debt before approving construction of new mine? If the govt does not need money (LOL), why does Yaluma not convert this debt into shares ? 517 /1700= 30,4% of Sentinel mine
More money in your pockets?? for the moment it’s “more money in foreign mining companies pockets”
Either Yaluma is an incompetent compared to former PF mines minister Simuusa nor the fight against corruption does not concern PF leaders
SIMUUSA, COME BACK !!
Good news indeed.Approval is also needed for the chinese mine in chibuluma
Zambians stop being silly. There is nothing to praise here. Pascall did not utter this nonsense. It is communist rubbish from the of newspaper. Besides the ground breaking ceremony for this mine was held on 29 April 2011. It was attended by Mr Newell from fqm, the local chief and then president Rupiah Banda. Go to the fqm website and you will see the chronological development of this project. It started in Jan 2010 when fqm bought it from kiwara plc at 269 million dollars. Really, what is so special about issuing a mining licence? You lot are very primitive!
haters will continue hating, the fact is PF is in gvt for next 10 years. IF I were you, I would put my foot down and accept this fact. or else you will develop BP and heart attack. Bravo PF and president Sata
I hope there is equal pay for equal work. The mistakes of the past must never be perpetuated. Are these new mines listed on the Lusaka Stock Exchange? JimPascal has become very wealthy because, primarily, of Zambia. Are there any Zambians who have done comparatively as well or they still being made fools of by giving ‘company cars’
congrats
SHAME TO THE 6 PACK or 6 pact……….hahaha lelo lelo
Nizeee ba presidento besu awe ni donchi kubeba
CORRUPTION IN MINES IS 2MUCH.