Green Party Leader Peter Sinkamba is concerned that the widely publicized revitalization of the mining sector has not taken off with capitalization projects at Mopani Copper Mines and Konkola Copper Mines.
Mr. Sinkamba says it has been almost a year since International Resource Holdings -IRH- pledged to invest over $1 billion in Mopani, but only $80 million has been injected into operations, falling short of the required $300 million to recapitalize the mine.
He cites the recent follow up with IRH at state house by President Hakainde Hichilema, as signs that Mopani and KCM have not made the expected progress, which he attributes to alleged unfavorable agreements between government and the two investors.
He has challenged government to make the two deals public, allowing for transparency and for people to evaluate them and hold stakeholders accountable.
And Mr. Sinkamba has highlighted the lack of progress on the Kobald project, announced as Zambia’s largest ore body and has demanded an update from the Ministry of Mines on all announced greenfield and brownfield projects.
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