Chamber of Mines nods ZCCM-IH, Kansanshi mine deal

By Masauso Mkwayaya

The Chamber of Mines says the 3.1 percent revenue-based royalty that ZCCM-IH has secured with First Quantum Minerals on Kansanshi Mine is a top of the range deal compared to similar agreements internationally.

Chamber of Mines Chief Executive Officer SOKWANI CHILEMBO says the deal is good because it guarantees a consistent source of income for ZCCM-IH to deliver on their strategy of becoming a real player in Zambia’s mining industry.

Mr. CHILEMBO says people criticizing the deal should not misrepresent facts especially that the agreement puts a stop to legal disputes that have caused reputational damage to the country.

He says the end of hostilities between Government and FQM is extremely important as it will create comfort among investors on the global stage who want to invest in Zambia.

Mr. CHILEMBO adds that the country needs more investors to meet its target to produce 3-million tonnes of Copper annually.

He said this in a statement availed to ZNBC News today.

The post Chamber of Mines nods ZCCM-IH, Kansanshi mine deal appeared first on .