First Quantum Minerals Limited is happy with President Michael Sata’s drive to boost foreign investment in Zambia.
First Quantum Minerals Chief Executive Officer Philip Pascal says President Sata’s willingness to engage with foreign investors to strike a balance for benefits of both investors and Zambians is welcome.
Mr Pascal says the president’s stance is key in maintaining and enhancing investor confidence in the country.
Mr Pascal who met with President Sata at State House in Lusaka says the discussions with the fifth Republican President of Zambia, who marked his 20th day in office on Wednesday, were cordial and positive.
He says it is clear that President Sata wants to see increased investment that gives both investors and Zambians mutual benefits.
This is according to a statement released to ZNBC News by the mining firm.
First Quantum is Zambia’s largest copper producer, and is the single largest contributor to the national treasury.
In his inaugural speech, President Sata emphasised that foreign investment is important to Zambia as it does not only create jobs but equally contributes to the economic empowerment of Zambians.
The President also highlighted that the Patriotic Front (PF)-led government will continue to work in fair partnerships with investors already in the country and welcome new ones.
Yah! 35% shares to go to GRZ
Very positive comments from FQM Chief Executive. This how it should be!
Mutual benefit is the emphasis. Zambians should claim 45% share in all mines and have some proceeds go to infrustructure development. We also wants more emphasis on labor laws and scrap this nonesense of experiates that has pluged our mining industry for years. All jobs should be advertised locally and sourced when and only theres is need to for that.
Refreshing feedback as these chaps now know that he means business and he is not an easily corrupt greedy fart like chi Ala Bee!!
we want a win win situation from our God given resource.
Now these are men..He knows how to take on the African governments.The man knows he has invested so much over the last 10 yrs or so they have been operating in Zambia. But above all, i think these guys are genuine investors with genuine concern for the locals.
FQM is the only company which has paid ZCCM-IH dividends from the shares they hold in Kansashi (20% btw). They also the only mining comp0any to have paid the windfall tax as well as the 6% mineral loyalty tax when Levy introduced them.
So let the other so called Investors follow the footsteps of FQM and they will be no need to run away from the copper….
walasa boyi
Hammered the nail on the head!!…..
This is encouraging to hear the CEO utter such words. Hope it’s from deep down his heart and not a fallecy. Gv PF time MMD will see how the country must be managed. King cobra once said that we just want to show them ka sampule.
Good evening
This is a good development and I hope it stays this way. Mr. Pascall knows that copper demand isn’t going to slow down anytime soon. In fact , other experts predict that copper could position itself to the stage of gold as time goes by.
The last time I checked, China was stockpiling copper and controlling about 40% of the global copper market. I think they’re still doint it. Now India also needs loads of it to meet it’s modernisation requirements for electricity and infrastructure. Given this positive outlook and the government’s determination for fair trade, I see Zambia doing very well in the next 5 years.
Wait and see how this mine owners will screw the Government.
not with sata in control
makes sense. there is no way we can leave these foreigners to run our mines soley.
So far so good. We need measures put in place to limit the amount of money that these Multinationals externalise.
Here he goes 4 pf.tht old chap s wickd he wz sponsorng rb 4 2011 election nw he goes 4 pf.he maks hs miner at kansanshi solwz work 4 12hrs & he claim 2 b de leadng hghst payng emplyer & labor laws says 8hrs.MALABISHI.
Oh dear! Zambians are you people this daft? The guy said all the little things he had to say. The devil is in the details. That kama little sweet sounding statement was gone over and over by corporate communication experts before it was given to this guy to rehearse. Of course he will say that he is happy with what St Michael is saying concerning foreign investment and there should be mutual benefit from these investments blah blah!. Remember nowhere in that statement has he said that he is willing to offload 35% in kansanshi to Sata and his govt be it freely or at a price! So please stop jumping up and down simply because the beautiful girl you admire has said Hellow to you! What is important is what she has ‘not said’ !
Very encouraging position.
To the Chinese infestors the message is very simple. You don’t fall in line, we kick you out. No time to waste – no time to plead. There are many genuine investors who can take the place of those we kick out.
The conclusion is very clear to see. Ala Bee was getting us all a freakin raw deal.
Where are the prophets of doom? Imean Mr Capitalist, Bootfimofimo and their cousin Aussie Engineer?
Thank You Pascal it has to be sweet on both sides. Well done H.E MCS.
Great news for Zambia
Go SATA go,thats why we voted for u becoz we knew u will not let us down.
Thank you Mr. President, It’s not all about Investors but to benefit Zambians as well. These companies make a lot of money at the same time damage the roads, they should be serious and show us their Corporate Social Responsibility (CSR). Let them pledge to build some of the roads in the country.
VIVA PF show them
Nine Chile,
Where is Mastro Hhe he he he he
I’ve also been wondering. The last time I saw him was before elections… but he’s not the only one who seems to have resigned. ;)
A few chaps have resigned, and chaps like Senior Citizen tactfully throw in a few here and there when the article allows space for twisting of facts.
The man is wise and chose his words very carefully. He will not say anything that jeopardises the govt.
The key is HOW we will get to mutual benefits. Listen to this:
Pascal says “President Sata’s willingness to engage with foreign investors to strike a balance for benefits of both investors and Zambians is welcome. Mr Pascal says the president’s stance is key in maintaining and enhancing investor confidence in the country. ……….investment that gives both investors and Zambians mutual benefits.
This is diplomatic language. Always be careful with diplomatic language from bazungu. The devil is in the details. He’s concerned, that’s why he went to see the president. He’s a busy man.
Am sure Zambian Watch Dog would never run such a story, losers!!!! This is a positive development indeed
Zambian watchdog is hate press…
and they said if you start talking about tax you will scare away miners.I don’t see anybody packing! just thieves!
Thanks to the president for maintening his stance on this development, you see these pipo can not run away because they make a lot of money, just observe what and how they spend here
I hear Maestro pwi pwi pwi is posting under a different name. Coward!
Ba number 9! You should be objective. 12 hour shifts at kansanshi are in the collective agreement. employees can opt out whenever they want.
To our beloved Infestors, the honeymoon is over.. You need contribute to the Zed economy. I’m told by CB guys that the chinese have increased salaries for all the miners a day after Sata became Presido..So bwana Pascal, tore the line or else kuya bebele..Viva Sata..Man of Action..
The mines thought by giving MMD campaign funds they would continue underpaying us and polluting our environment and get away with it but the people had the last say &put PF in government so that we get a fair share from our Copper.
Those fools who were saying MCS shall chase away investors are proving to be short sighted. Let it be a wiwn-win formular and we shall be back again on stage of economic growth. viva PF.
The comments of Philip should not cause any excitement in the Zambian Public.
What this means is that the man simply said he is happy that the preident is willing to welcome forign investors.
He indicated that he is happy the president has pointed to mutual benefit; his view of mutual benefit might be far from SATA’s view of the same phrase.
Also the opinion of one giant may be far from the opinions of many smaller to medium inverstors.
We know that any economy, whether in the west or east or african grows and is primarily supported by small to medium entities. Mess up these an watch your economy.
The word of hope, however, should only come after knowing the outcome of the first successful negotiations.
But in conclusion if well carried out, we will all be happy.
Very positive news and there’s more to come within 5 years of this government. What some people tend to forget about politics is that it’s not a one man show, anyway not in a democracy. Some people have this view that Sata would make each and every decision probably making him the most cleverest person on earth. What they did not realize is that he is surrounded by a bunch of well learned/knowledgeable men and women. No one person has answers to every question. President Sata or even better this highly learned Kaponya will show people like Mr Capitalist and MMDBootlicker that he has more brains than they do.
GUYS CHECK THIS OUT FROM THE POST,ESPECIALLY FOR YOU WHO HAVE BEEN WHISPERING PRAISES FOR RUPIAH BANDA……´´RUPIAH RESISTED TO LEAVE POWER,´´REVEALS MAGAZINE
Pascal is learning very quickly, i wouldnt be surprised if he is appointed Minister of Mines.
Well done Mr. President, shows you have a heart for your people and Country. The previous Gov used to rejected any suggestions for negotiating with investors. Si apa within 20 days the doors are openning. Workers across the Country are getting pay rises. You are doing us proud!
…In its October 7, 2011 edition, Africa Confidential, quoted Zambia’s State House sources saying Banda was on the verge of declaring himself winner of the September 20 presidential poll after realising he had lost the elections to then opposition Patriotic Front (PF)’s Sata…..FROM THE POST
The reasons foreigners are running our mines is because we are incapable to do so. Let’s invest in Zambians so that these companies can be locally run and owned. That way the money stays here instead of being wired overseas. Let’s build capacity instead of whining. South Africa runs their own mines and so can we.
Botswana even cuts and polishes their diamonds themselves and export the refined product at competitive prices.
Some of the people in Zambia allow themselves to easily be cheated by manipulative minds.
“sources at state house” means anything including the usual rummer mongaring PF cadres who were part of the state house work force.
These are the same rummer initiators that caused trouble to spring up everywhere.
The reporters, for the so called “Africa Confidential” were misguided by the rummers being heard.
For your own information, RB called RB for how they could quickly address the issue of anxieties after he had known of his loss. After there was relactance from SATA to calm the public through his party spokes person, he called on KK to help in the discussion so that they could begin to guide and fomalise the process of handover.
So what story is POST trying to bring up, without sense
“sources at state house” means anything including the usual rummer mongaring PF cadres who were part of the state house work force.
These are the same rummer initiators that caused trouble to spring up everywhere.
The reporters, for the so called “Africa Confidential” were misguided by the rummers being heard.
For your own information, RB called SATA for how they could quickly address the issue of anxieties after he had known of his loss. After there was relactance from SATA to calm the public through his party spokes person, he called on KK to help in the discussion so that they could begin to guide and fomalise the process of handover.
So what story is POST trying to bring up, without sense
Change has finally come. Shame on those who were calling Mr President bad names. I would like to hear from a fool called Mestrol Hhe he He thought HH was better educated and said Sata will never rule Zamnbia. Point taken respect is good. Let give the President help to run the country is not one man show. Sometime there are shot comings he is just human. So far so good. VIVA SATA
….Africa Confidential reported that it was only the intervention of top advisors, electoral officials, founding president Dr Kenneth Kaunda, and United States and European Union diplomats on September 22 that persuaded Banda not to subvert the results and stay in office…POST
…..”The Chairperson of the Electoral Commission of Zambia (ECZ), Justice Irene Mambilima, is reported to have threatened to resign and tell the world the truth if Banda did not accept defeat. US Ambassador Mark Storella warned Banda that if he did not respect the election results, he would only be able to maintain power by brute force,” Africa Confidential reported. “A despondent Banda, faced with advice and warnings from so many different quarters, gave in and shortly afterwards publicly conceded defeat.”
….THE POST
FQM are big time swindlers world over. Hope they will now be paying their taxes on time. The June saga which I’m sure y’all have forgotten about is just a tip of the iceberg in as far as how much money they steal from Zambia
#27 Big J give us some time bro. Many of us prefered to stay underground for a while and observe things from a distance because we were not happy with the way things were being run in our country. Now that we can see a government that is committed to a better Zambia, we are slowly getting set to return again and take responsibility for our own destiny. It’s just a matter of funds, oh sorry, time, before we reclaim what rightfully belongs to us and work together with our people for a better shared future.
NOW LOOK AT THE POST EDITORIAL:
´´We have noticed that some people have been misled into believing that Rupiah Banda willingly gave up the presidency because he was prepared to respect the wishes of the people and he is therefore a good democrat…..
We are not, therefore, surprised with the information that is now emerging about the events that occurred in the period after Rupiah realised that he was losing the election. The article from Africa Confidential is very instructive. It helps to put Rupiah’s character in proper prospective. It also helps us to understand what happened in the immediate aftermath of the election.´´…….
……Rupiah did not respect our people when he was president. He made a classical mistake of over-confidence. He looked down upon our people so much that he believed that he could rule them for however long he wanted. Maybe this is the advice that he got from his deceased political mentor Frederick Chiluba. We say this because that was Chiluba’s mindset as well. Although Chiluba claimed to have been the founding father of democracy, he did not believe in democracy….TAKEN FROM THE POST EDITORIAL.
..Chiluba is supposed to have told the late Dean Mung’omba that Zambians were so docile that he could rule for as long as he wanted. Chiluba believed this….In his reincarnation as special advisor to Rupiah, Chiluba shamelessly told the nation that he would use all kinds of tricks, including international ones, to ensure that his preferred candidate, Rupiah, won the election. In his bragging, Chiluba forgot that our lives are not ours but they are in the hands of God. That is all we are prepared to say about Chiluba for now…THE POST EDITORIAL.
….´It seems we have the influence of the US government to thank for that. This is because it appears to us that the decisive event that made Rupiah reluctantly accept parallel vote tabulation was the visit of US Secretary of State Hillary Clinton. This brings us to the next big ‘what if’. What if Hillary had not visited Zambia?…For that reason, we salute every Zambian, and even foreigners who stood up to Rupiah and helped to save our democracy. Today, we can write as we do because there is peace in our country. And we thank God for this peace….THE POST EDITORIAL
….As for Rupiah, the wrongs that he did and the wrongs that he tried to do will haunt him until his dying day.Rupiah was taught that money could buy you friends but not their affection. In the end, when Rupiah realised that his confidence had been misplaced, all he could do was cry because he discovered he had lied to himself and how painful that was.THE POST EDITORIAL
viva man of action one micheal chilufya sata!!!
Same old rhetoric from investors. Take look at the statements mine investors were issuing when RB won in 2008. These mine investors know that PF government has no spine to force the mine companies to contribute meaningful tax contribution.
@ba fine,
its rupiah who had all the state machinery part of which is the public media. how in your abnormal thinking did you expectSATA who wasn’t given couverage whatsoevr by the same media to calm the nation. Sata was as anxious as any other citizen about what was coming next. It was in rupiah’s interest and responsibility to do what he did and no one else though he had to be forced to do so if that is as it were.
THIS IS A GOOD PRONOUNCEMENT AND GIVES INVESTOR CONFIDENCE, KEEP IT UP TO WHOM IT MAY CONCERN
Meanwhile, do something at Nkana stadium, you make a lot of money out of Busakile.
IMWE BA JOHN WHITE WHO WERE YOU CALLING SATAN BEFORE THE ELECTIONS??
Good progress, at least consultations have started at the higher level.
@6 Spot on. Lets us avoid lumping all investors in one category some of them actually mean what they say and they have done their best to contribute towards the development of the country. This is a step in the right direction as many others have echoed.
#50 GUEVARA,
It would be very nice to learn that you are a normal person.
Wynter Kabimba was able to hold press conferences covered by both public and private media during the vote counting period was he together with RB?
In his address he simply keept on telling people to keep vigil and not let MMD steal the vote, was that not enough platform to assure people that all is going Ok, after his boss SATA met with RB?
In your normality, do you think that the public was ready to take RB’s word more than what would come from PF??
If you are normal as you seem to have portrayed on #50, I believ you will be able to use susch normality to address the basic questions above.
Anyway, it is of no value because your normality came as a result of having assessed yourself.
# 56 Fine,
Man go hang , the matter of fact is tha your uncle RB resisted to hand over power. Thanks to the USA that warned him of being fushed out in a minute if ever he would go the Gbagbo. Comandos on the copperbelt also warned him that they would come to Lusaka and flush him out. Just keep yo mouth shut FINE. Zambia is really liberated from a thief RB.
R.B wud have only asked for K 30 billion from this chap and ask him to continue with his business, now look at the president for all zambians stance, thats so so nice go on mr Sata we are behind you, let the madd malitia dogs rot in hell.