KABANDA CHULU, Lusaka
STANBIC Bank Zambia, which has invested over US$2 billion in the mining industry, says the country has more potential to unlock mining investment in the extractive industry in view of high copper prices, renewed commitment to increase power generation capacity and stable mining policies.
And Zanaco Plc says the bank will continue to support the growth of the mining sector because it is the main driver of Zambia’s economy.
Speaking ahead of the 2023 African Mining Indaba that starts today in South Africa, under the theme “Unlocking African mining investment: Stability, security and supply”, Stanbic Bank chief executive officer Mwindwa Siakalima said Zambia’s mining sector remained an attractive proposition for further investment on the back of high copper prices, which had remained at over US$9,400 per tonne.
“In an effort to support platforms that drive necessary conversations about the evolution of the mining sector, we are, once again, at this year’s mining indaba. Zambia’s mining industry has reached a stage in its development where further investment is required to unlock the sector’s potential.
“We were delighted to learn last year that First Quantum Minerals (FQM) announced a US$1.25 billion investment package to expand operations at Kansanshi Mine and Smelter in Solwezi. An additional US$100 million was allocated to starting up CLICK TO READ MORE
MINING in Zambia history and future indicates that on a small scale, the mining activities by the natives were widespread across the Copperbelt region and other places
