A partnership of Zamsort limited and Arc minerals says the Kalaba Copper project in Mwinilinuga district is expected to create over two hundred permanent jobs once the project is complete.
Arc Minerals Executive Chairman Nick Von Schirnding says the copper-cobalt project has reached 85 per cent completion point and is expected to commence full operations in October this year.
Mr Schirnding says the two companies have so far invested over ten million dollars in the construction of a copper-cobalt leach plant located in Mwinilunga district of north-western province.
He said the Kalaba Copper project will empower local communities through job creation and provision of loans to the local people in order to improve local businesses.
Mr Schirnding noted that an additional one hundred fifty indirect jobs were expected to be created through contractors in the first phase of the project.
And Zamsort Company Secretary and Director of Finance, Brian Chisala says the Kalaba leach plant project will produce both copper and cobalt concentrate once fully operational.
He said the partnership of the two companies will produce a hybrid mining company which will carry out exploration and production activities to ensure that operations were sustained.
The duo was speaking at the Zambian High Commission in Pretoria, South Africa when they paid a courtesy call on Zambia’s High Commissioner to that country.
Meanwhile, Zambia’s High Commissioner to South Africa His Excellency Mr. Emmanuel Mwamba urged the two companies to expedite the development of the plant in order to benefit from the current high copper and cobalt prices.
He expressed happiness that the partnership has resulted into a formation of one of the big mining companies to have come out of Zambia recently.
Mr. Mwamba urged ZCCM-IH and other parastatal companies to consider buying shares in the company in order to improve their financial and asset portfolio and provide Zambians with a stake in the company.