President Rupiah Banda says the coming into the country of Brazilian Mining giant Vale, will create several jobs and economic opportunities for Zambians.
And President Banda has urged the labour movement to embrace the new investments in the mining sector, as it would create more opportunities for people in Zambia.
President Banda said he is happy with the developments and investments in the mining sector, which he said should be supported by all Zambians.
He was speaking on Thursday at the ground breaking ceremony of the Konkola North Mine in Chililabombwe.
Mr Banda said he is optimistic that Zambia would soon become a middle income country judging by the amount of investments especially in the mining sector.
He said the investment is Chililabombwe would help uplift the living standards of people in the area.
And Chief Executive Officer for Konkola North Mine David Armstrong said the firm will produce in excess of 2.5 million tonnes of copper annually when the company starts full scale copper production in 2013.
And Vale CEO Roger Anglli said his firm would invest over 1 billion US Dollars into the mining operation in the next five years.
He said the money would be spent on infrastructure development and construction of the Konkola North copper Mine.
He said his firm is also interested in contributing to other sectors of the economy other than mining, such as bio Fuel.
Konkola North Copper Project, is a joint venture by Vale Mining Company of Brazil and Rainbow Minerals of South Africa.
Konkola North Mine has been dormant for over 50 years.
[ ZNBC ]
Okay. When is the next trip too. We know you are sacred to see Levy at state house. Something is wrong some where tarvelling like a headless chicken.
A good leader delegates, after so much travel the minister of mines should have officiated in Konkola . What did you do to cabbage !!
How day has our president being in office excuting duties at state house. What a shame. Who does presidential duties………Mr R B.B.John flyer.
We can only hope for the best to come out from these guys. They should take keen interest in contributing more to the social responsibilities of the areas in which they operate from.
Way to go Mr.President, a true visionary, who really understands how things work in world economy. Just keeping firing away, and get more of these investors coming in, many countries have immense cash liquidity looking for save investments . Just make sure to keep peace and harmony in the country, and they will come. You need to meet Sheikh Khalifa bin Zayed al Nahyan from Abu Dhabi, they have Abu Dhabi sovereign wealth funds which invests billions around the world. Keep on pushing on the farmers and under your leadership Zambia will be back in action and cash rich. The ignorant don’t understand business mentality, you are our spokesman.You the MAN.
Vale you are welcome. Rb when you talk about job creation also think about the quality of jobs created. Job creation is only good if it increase the wealth of the people and improves their lives. It does make sense if the new mine employs 1000 miners earning K1,000,000 each. They bring in mining contractors from Brazil and South Africa. Engineers from Brazil and South Africa. 46 years after independence governments seems to incapable of improving the lives of its people. The only easy solution is to pass the burden on others. So make sure the investors pay well, employ our several qualified graduates then you can enjoy your challenger flights!!