By CATHERINE NYIRENDA –

INTREPID Mines Zambia plans to invest an initial investment of US$700 million in the Kitumba Project in Mumbwa District in Central Province.
Once in operation, the Kitumba Mine Project would create about 3,600 jobs for the local people out of which 600 would be direct while 3,000 would be indirect jobs.
Justice Minister Ngosa Simbyakula said the development of mines of such a magnitude as the investment going into the Kitumba Project had a positive impact on the lives of the local people and the country at large.
Dr Simbyakula said this during a cocktail at Intercontinental Hotel at the weekend to launch the Intrepid Mines Zambia Kitumba Project.
The minister said Government was concerned with the high levels of unemployment especially among the youths in the country and that the Kitumba Project would mitigate the situation.
“Your project will make significant contribution towards mitigating the problems of unemployment in our country,” Dr Simbyakula said.
Government would continue to encourage companies like Intrepid Mines Zambia to invest in many sectors of the economy.
Dr Simbyakula said Government would continue to take aboard suggestions from stakeholders as evidenced by the on-going consultation on the mineral royalty tax to arrive at a win-win situation for all parties.
Intrepid Mines Limited chairperson Ian McMaster said the company was looking forward to taking the Kitumba Project forward.
Mr McMaster said the mine enjoyed the support from the Ministry of Mines and other Government departments in securing the tenure of the Mumbwa project.
Almost US$100 million had been spent on the Mumbwa project since the company commenced operations in 1990 by the original licence holders BHP and Blackthorn which has held the project for the past three years.
“Once the project is developed, we anticipate that over $180 million will be spent in Zambia in the construction phase with ongoing operational cost in excess of $100 million per annum,” Mr McMaster said.
He said once the mining was in operation it was anticipated that a further a $370 million would be allocated to labour cost over the life of the project.
Intrepid Mines merged with Blackthorn Resources in Australia in December last year and acquired all the Blackthorn assets including the Mumbwa project which has been in existence since the 1990’s doing exploration works.