Mines Minister, Christopher Yaluma says has underscored the important role First Quantum Minerals plays in the collection of revenue through tax and the growth of the Zambian economy as a whole.
Mr yaluma was speaking when he toured FQM’s Kansanshi mine in Solwezi on Tuesday (4 April) along with US Ambassador Eric Schultz.
The Minister was hopeful that the company would be able to follow through on a planned 1.5 billion United States Sollars, investment to expand its processing and smelting capacity, a commitment that the company has said is contingent on a stable policy environment, the recovery of commodity prices and the resolution of current uncertainty over electricity tariffs.
Mr Yaluma said First Quantum is the biggest taxpayer and Government recognises that, and hence the need to appreciate the Mining Firm is doing to contribute to the local Economy.
Mr Yaluma was part of a delegation that included Ambassador Schultz, senior FQM staff and American Embassy officials who visited First Quantum Minerals’ Kansanshi Mine on Tuesday to tour the facility.
First Quantum has invested in excess of 5.7 Billion United States Dollars in its Sentinel and Kansanshi Mines and the Kansanshi Smelter, and has paid more than 3.3 Billion United States Dollars in taxes in the last eleven years, transforming the Economy of North-Western Province and creating employment for more than 8,500 People.
APRIL 5, 2016