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Zambia President, Hakainde Hichilema, has urged African leaders to come together and change the perception that Africa is only a source of raw materials.
According to the President, leaders must position their countries as leaders in the era of electric vehicles and other green technologies.
President Hichilema announced today at the 2022 Africa Mining Indaba that First Quantum Minerals is planning to build a 500 million dollar solar and wind energy installation, which will be one of the continent’s largest.
“We must endeavour to foster peace and stability across the continent because conflict impedes investment and the prospect of social and economic growth, that we all desire. I, therefore, wish to underscore Zambia’s support to all efforts aimed at resolving the ongoing conflicts on our continent,” he said.
President Hichilema also said his government is delighted with First Quantum Minerals’ announcement of two landmark investments in Zambia.
“A 1.25 billion dollar investment to expand production and extend the life of the Kansanshi mine, and an additional 100 million dollar investment in the new enterprise nickel mine,” he said.
President Hichilema said since assuming office in August last year, the government has been determined and focused on efforts to revive the Zambian economy.
“We are committed to building a resilient and sustainable mining industry anchored on environmental, social and governance standards, and best practices,” he said.
And the President said his administration is determined to respond to the high demand for copper and has an audacious goal to take its annual production levels from the current 830,000 to three million metric tonnes in the next 10 years.
He further reiterated the government’s commitment to supporting the domestic economic empowerment and job creation without resource nationalism.
President Hichilema said the government is also committed to ensuring transparency and accountability, adding that Zambia is an extractive industries transparency initiative (eiti) compliant country and efforts have been in place to ensure the promotion of transparency and accountability in the mining sector since 2012.
He said the “eiti” is currently in the process of implementing beneficial ownership, an essential tool for the promotion of transparency in the ownership of mining assets.
“We believe that the disclosure of beneficial ownership information will lead to good business practice, build confidence and trust and further signal to investors and other stakeholders that transparency and accountability are at the centre of mining in Zambia,” he said.
