(TIMES) Chief Chizera gets Korean partnership for mines
Chief Chizera gets Korean partnership for minesBy Business Reporter
CHIEF Chizera of Mufumbwe and the Korea Resource Corporation (Kores) have signed a partnership agreement for the development of copper and uranium mines in Mufumbwe and Solwezi respectively.
Chief Chizera of the Kaonde in North-Western Province is the only traditional ruler who has been given a full-scale mining licence and has since formed a company called Zamkor Mining Corporation where he is chairman.
The agreement signed yesterday would first be for exploration to last 18 months at a cost of US$ 2 million.
At the signing ceremony, Chief Chizera said he was happy to have found partners in the mining venture saying the undertaking would create jobs for his subjects.
He said his company had also applied for a uranium mine in Solwezi and the project would be funded by the same South Korean company.
Local Government and Housing Deputy Minister, Ben Tetamashimba who witnessed the signing ceremony said the Government would rally behind the chief to ensure that the project succeeded.
Mr Tetamashimba said the project had come at a right time because people in Mufumbwe wanted employment which would be provided by the mine.
“And it is good that you are going to employ locals as you have already assured the chief because Government is in support of job creation,” he said.
Mr Tetamashimba expressed confidence in the Kores’ capacity as investors especially that they had never had a record of mistreating workers. He urged the company to also look to other business options.
Kores president Lee Han-Ho said his company which is a department of the South Korean government would fund the exploration for copper.
He said the total investment outlay for the project would only be known after exploration was completed.
Labels: BENNY TETAMASHIMBA, CHIEFS, COPPER, KOREA, KORES, URANIUM
posted by MrK @ 9:06 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home