British firm Moxico Resources to invest US$100m in Zambian mining operations

ZAMBIA – Moxico Resources Plc, a British mining firm is planning to invest a total of US$100 million in two separate mining projects in Zambia.

The company through its Zambian unit, Mimbula Minerals Limited, is set to break ground on a US$30 million mining project next January and has projected to create about 800 permanent jobs for local Zambians over the course of next year.

Moxico Resource Plc Chief Executive, Alan Davies, revealed that the Mining Company will also seek to integrate agriculture into its mining projects with an emphasis on fresh produce as a working alongside local communities to realize their agricultural potential.

Davies conveyed these insights when he paid a courtesy call on Muyeba Chikonde, Zambia’s outgoing High Commissioner to the United Kingdom

Davies said Moxico Resource also plans to invest over US$70 million in two mining projects, in Mimbula and Kalengwa areas in Chingola and Mufumbwe on the Copperbelt and North-Western provinces respectively.

He said copper production at Mimbula Minerals Limited in Chingola is expected to start early next year. Adding that the company will start construction for its Mimbula project next month following final environmental approvals with Kelengwa being on course for next year.

Davies said the mining firm will inject between US$30 million and US$70 million in the open pit mine and the mine is expected to produce 30,000 to 40,000 tonnes of copper annually. 

He added that the mining company has so far created about 200 jobs for local Zambians and was aiming at working and creating partnerships with the local community.

“We are fully committed to Zambia and want to develop skilled employees across all of our operations and in doing so make sure that the benefits involve local people, contractors and suppliers,” he said.

Meanwhile, High Commissioner Chikonde said there was a good working relationship between the Zambian Government and the Mining sector adding that the industry has continued to record positive growth and there was an increased mineral production, expansion of existing mines and opening of new mines like Mimbula Minerals.

Zambia is an attractive investment destination that is working to diversify into various alternative  investment areas which included tourism, agriculture, manufacturing and energy and but the mining sector has, and will continue to play a critical role in the economic development of Zambia,” he said.

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