Sunday, April 16, 2006

Mining: Canadian company increases investment in Zambia

The Zambia Daily Mail, has reported that First Quantum Minerals of Canada said its investment in Zambia's mining sector is expected to increase to 2 billion US dollars from the current 1.5 billion dollars.

Company Director Arthur Pascall, told a workshop in Lusaka, that the current total investment of nearly 1.5 billion dollars will soon reach 2 billion dollars with the opening of Lumwana project and all the money is coming into the major copper-producing country in the world.

He said it has not cost anyone in Zambia one single cent and yet certain inflammatory commentators somehow interpret the privatization as "theft" by capitalist.