Moxico Resources Chief Executive Officer Alan Davies says Mimbula mine in Chingola has resumed operations after a consent order was entered into the dispute between Konkola Copper Mines and Moxico Resources and two others.
And Davies has thanked government for the continued favourable investment climate in the country which he said makes the country one of the most sort after investiment destination in mining.
Commenting on the consent order which has allowed his company to resume operations, Davies said the company was relieved that the dispute involving his Company and KCM is over and that operations have commenced.
He said Mimbula mine has contributed to the creation of jobs in the country as it will employ hundreds of workers immediately, through construction and operations, and as it invests over $40million in its first phase investment.
And Davies praised government for creating good investiment climate for Foreign investment.
He said Republican President Edgar Lungu and his government should be commended for ensuring that Foreign investors feel safe in the country.
He said Zambia remains one of the best investment destinations due to its continued peace which makes investors not only safe but are assured that their investment is protected.
Davies’ comments comes in the wake of the order by the Court of Appeal who have ordered Konkola Copper Mines (KCM) to Immediately withdrew the application for Leave to Appeal to the Supreme Court against the Judgement of the High Court regarding the disputes involving Moxico Resources Zambia limited and two others.
In the matter before the Court of Appeal Konkola Copper Mines PLC (Appellant) had appealed against the ruling which was in favour of Rephdim Mining and Technical Suppliers Limited (1st Respondent), Mimbula Minerals Limited as (2nd Respondent) and Moxico Resources Zambia PLC as (3rd Respondent).
The parties have since entered a Consent Order which has ordered that the parties agree that all litigations between them in relation to the subject matter of this order immediately be terminated and deemed withdrawn and that no liabilities will arise against any of the parties.