Lumwana makes headway with non-mining related plans
By David Chongo in Solwezi
Mon 16 May 2011, 11:10 CAT
LUMWANA Mine in Solwezi is on course with its plans to develop sustainable non-mining related business, says managing director Adam Wright.
Responding to a query on Lumwana’s business development since being granted multi-facility economic zone (MFEZ) status last year, Wright said both local and foreign companies had expressed interest to invest in manufacturing and processing in the area.
“We have had several expressions of interest in MFEZ opportunities, mostly related to agri-business. One group is intending to establish a 3-star hotel and vocational training centre for hospitality trades. Overall, we are making good progress with our plans to develop sustainable non-mine related business at Lumwana,” Wright said.
Lumwana Mine had pledged, during launch of LMFEZ by commerce minister Felix Mutati, that beside creating 13,000 jobs, it would mobilise its partners for venture capital into the area with Japanese company, Hitachi, leading the in-flow with $10 million investment in heavy equipment spare part manufacture for the mine.
Meanwhile, Zambia Development Agency in North Western has targeted Kasempa and Kabompo for a capacity building exercise to develop the honey processing industry.
Regional Enterprise Development Officer, James Malala said there was significant honey production in the two districts by small and medium enterprises which ZDA would help enhance through granting tax exemption incentives.
Labels: ADAM WRIGHT, FELIX MUTATI, LUMWANA MFEZ, LUMWANA MINING COMPANY
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More jobs coming at Lumwana
By Staff Reporter
Tue 06 July 2010, 18:10 CAT
Lumwana is projecting a copper output of about 135,000 metric tonnes this year
MORE than 10,000 jobs will be created in addition to the existing 3,800 in Lumwana’s North-Western Zambia on the border with Angola following the government’s decision to sign a Statutory Instrument allowing Lumwana Mining Company (LMC) to operate the historical Lumwana Multi Facility Economic Zone (MFEZ).
Company managing director Adam Wright said during the launch of the LMFEZ, “the economic activity that shall come out of the LMFEZ is aimed at benefiting the local economy and not Lumwana as a company directly.”
Wright said the company was projecting that up to US $50 million will be pumped into the zone by various local and international investors once it is operational.
In addition to the US $50million that Lumwana was envisaging will be brought into the zone in the initial stage of operations, commerce minister Felix Mutati who officially signed the SI said the government had sought further investment in the facility to increase the number of people that shall benefit in the area.
“On our part as government we have convinced Japanese company Hitachi to come and set up a manufacturing plant,” said Mutati, “they have agreed to invest about US$10million in starting the plant that shall create lots of skilled well-paying jobs.”
The LMFEZ, a brain child of the Equinox owned company, is part of the company’s plan to help Zambia in its bid to diversify into sustainable projects which shall complement the mining activities that have breathed a new life to the province in particular and Zambia in general.
Among the industries expected to operate in the zone are agro processing, petrochemicals, construction, manufacturing and hospitality among others according to Mutati.
The zone by virtue of location—near DRC and Angola—is also expected to increase trade integration with the two neighbours and therefore expected to generate substantial amounts of foreign currency for Zambia.
It is the first such zone to be operated by a mine in Zambia and Lumwana is doing this in a bid to be a responsible corporate partner to the Zambian government whom it thanks for having given it the opportunity to do business in the country.
The company is projecting a copper out-put of about 135,000 metric tones in 2010.
Labels: LUMWANA MFEZ, MFEZ
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