MOXICO RESOURCES LIMITED INVESTS $100M

By Mushota Mpundu:

Moxico Resources Limited, a British Firm which has partnered with Mimbula Mineral resources a local Mining firm has injected about 100 million dollars into mining explorations in Chingola on the Copperbelt.

MOXICO Resources LTD Chief executive Officer ALAN DAVIES says once the mine starts operations by end of next month; it will inject more than 2-hundred million dollars of investment.

He says the mine intends to start with 50 thousand tonnes of copper production annually ramping up production to about 1-hundred thousand tonnes of Copper production annually.

Mr. DAVIES says 5-hundred and 60 local people have so far been employed.

He disclosed this when Copperbelt Minister ELISHA MATAMBO and Copperbelt permanent secretary AUGUSTINE KASONGO toured the mine today.

Mr. Mr. DAVIES further disclosed that the firm will also build a mini Hospital at the Mine which both the workers and the local people will have access to.

And Mr. MATAMBO inspected five copper solution ponds and workshops that have been set up at the Mine.

He also praised Mimbula Mineral resources for the investment, saying it is in tandem with government’s resolve to revive the mining sector.

Meanwhile, Mimbula Mineral Resources Director FIDELIS CHANDA revealed that the mine has 11 exploration licenses across Zambia.

 

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