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20 April 2010


Two copper mining projects launched in Zambia

Source: AFP

Zambia's President Rupiah Banda on Tuesday launched two new copper mining projects with a call to investors to add value to the economy by employing more Zambians.

Banda said that despite the recent growth of the mining sector in the copper-rich southern African country, not many Zambians are given job opportunities by foreign investors.

"The mining sector is growing and Zambia is on course to recapture its former status as one of the leading copper producers in the world and it is the wish of everyone to see that this translate into improved well being of all Zambians," Banda said.

"While copper production is increasing, very little progress is being made to add value locally to the commodity to enhance the benefits accruing to the nation," he added.

Banda was speaking at the launch of the Konkola Deep Mining Project (KDMP) in Chililabombwe, north of the capital, Lusaka. He also launched the Nchanga Smelter in Chingola, about 25 kilometres (15 miles) away.

Indian mining firm Vedanta, which holds a 79 percent stake in the Konkola mine, says the 674-million-dollar (500-million-euro) KDMP expansion will increase the mine's output from 2 million to 7.5 million tonnes per year.

The launch of the projects comes barely a month after Banda commissioned a nickel mine in Mazabuka, south of Lusaka.

Mining is an economic mainstay for Zambia, where the average person earns less than three dollars a day, according to the World Bank.

Last year, more than 80 percent of Zambia's foreign exchange earnings and 15.9 percent of its GDP came from copper mining, Banda said.