Africa-Press – Zambia. President Hakainde Hichilema says his Government wants to conclude Mopani Copper Mines and KCM issue in the quickest possible time as the two assets will be key in Zambia attaining 3 million metric tonnes in ten years time.
President Hichilema says unfortunately his Government is paying the price for the wrong decisions made by the previous administration on the two mines.
Speaking at a press conference at State House yesterday, Mr Hichilema defended the decision to engage in Vedanta Resources in it negotiations, saying they are stakeholders who cannot be removed from the issue as they have shareholding in KCM.
The President expressed confidence that an amicable solution will be reached, saying he does not believe in solving business decisions through the courts. And President Hichilema said Kasenseli Gold mine will be operational in the first quarter of 2023.
President Hichilema disclosed that he has been in talks with the necessary stakeholders who include the traditional leadership in Kasenseli of which a consensus has been reached.
The President said he is committed to the enhancement of the mining sector, citing the US$1.35 billion dollar investment First Quantum Minerals has made towards new projects in Zambia.
President Hichilema also said he is eager to see the debt restructuring process concluded in the quickest possible time. Mr Hichilema urged creditors to finalise a Memorandum of Understanding on the debt restructuring by March 2023.
Meanwhile the President said he views both United States and China as Zambia’s partners. He denied assertions that the two countries are competing against each other in their partnership and support to Zambia.
Meanwhile President Hichilema disclosed that Zambia has attracted foreign investment worth over US$ 5 billion dollars from the time his administration came into office.
The Head of State said he wants the investment tripled by next year. Mr Hichilema also said next year, his administration will focus on reducing bureaucracy in Government. He said bureaucracy has posed a major hindrance to Zambia’s development agenda.
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