By Mumbi Kalimba Kaseshya
Lusaka, Tuesday, 11th June 2024 – The rejuvenated Mopani Copper Mines has contributed significantly to Zambia’s economy, paying K341 million (approximately USD$13 million) in taxes since its acquisition by Internal Resources Holdings (IRH) in March 2024. This was revealed during a courtesy call by IRH Chief Financial Officer Abhinay Khowala to Finance and National Planning Minister Dr. Situmbeko Musokotwane in Lusaka today.
Following the revival of Mopani by IRH and the Zambian Government, there is a notable boost in morale among the workforce. “There is a great deal of enthusiasm among the workforce, we are all excited to contribute to the viability of Mopani and the growth of the Zambian economy,” said Mr. Khowala.
Describing Zambia as a “mining paradise,” Mr. Khowala emphasized IRH’s commitment to optimizing Mopani’s production by implementing efficient production systems, mine administration, and supply chain management. He was accompanied by IRH Finance Director Frijo Francis and Mopani Copper Mines Tax Manager Chikusi Banda.
Finance and National Planning Minister Dr. Musokotwane expressed the high expectations of the Zambian people regarding IRH’s investment in Mopani. “The start you have made in meeting your tax obligations is a step in the right direction for job creation, company stability, and expanded business prospects,” he said.
Dr. Musokotwane also reaffirmed the Government’s commitment to facilitating business growth in a sustainable and competitive manner. He highlighted the availability of additional investment opportunities in mineral exploration, mine development, and value addition.
International Resources Holding, based in Abu Dhabi, United Arab Emirates, holds a 51% stake in Mopani Copper Mines.
This is contained in a statement issued to the press by the Office of the Secretary to the Treasury.
