Zambia Celebrates Mopani Copper Mines Relaunch, Embracing New Partnership with UAE Investors
In a momentous occasion for Kitwe, the Copperbelt, Zambia, and the global mining industry, Mopani Copper Mines celebrated its revitalization, marking a significant turning point for the region’s economy.
The relaunch is recognized as a new beginning, promises to uplift livelihoods not only within the Copperbelt Region but throughout the nation.
President Hakainde Hichilema expressed profound gratitude for the partnership that led to the relaunch, emphasizing the meticulous negotiation process with International Resource Holdings (IRH) from Abu Dhabi.
The partnership, characterized by mutual respect and equitable benefits, ensures that Zambian citizens retain a 49% shareholding through ZCCM-IH, demonstrating a commitment to national prosperity.
The $1.1 billion investment from IRH represents a historic milestone, marking the first substantial investment from the United Arab Emirates (UAE) in Zambia. This investment is poised to spur further economic growth, with expectations of additional investments in green energy and other sectors.
To support local suppliers, Mopani has initiated a Supplier Development Program aimed at enhancing the capacity of Zambian businesses by providing access to capital and business development services. This move underscores the commitment to fostering local economic empowerment and sustainable growth.
President Hichilema urged Zambian businesses to draw inspiration from the UAE’s success in managing its oil resources and transforming its economy. The partnership with IRH signifies a step towards leveraging international expertise to drive Zambia’s economic development.
The Zambian government extended heartfelt thanks to His Highness Sheikh Mohamed bin Zayed Al Nahyan, Ruler of Abu Dhabi and President of the UAE, for his steadfast support in strengthening ties between the two nations.
Additionally, acknowledgment was given to His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of IHC, for his role in facilitating the partnership.
