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HomeMiningNew Mopani pays K341 million in taxes

New Mopani pays K341 million in taxes

By John Chola

The rejuvenated Mopani Copper Mines has paid K341 million (approximately US$13 million) in taxes since its takeover by Internal Resources Holdings (IRH) in
March, 2024.

This has come to light when IRH Chief Financial Officer, Abinay Khowala paid a courtesy call on Finance and National Planning Minister Dr Situmbeko Musokotwa, in Lusaka today, the Ministry revealed.

Since the revival of Mopani by IRH and the Zambian Government, “there is a great deal of enthusiasm among the work force, we are all excited to contribute to the viability of Mopani and the growth of
the Zambian economy,” said Mr. Khowaa.

Mr. Khowala has since described Zambia as a mining paradise hence his firms (IRH’s) keenness to ensure that Mopani lumps-up production to optimum levels by putting in place efficient systems of production,mine administration, and supply chain management.

Khowala was accompanied to the Ministry by IRH Finance Director, Frijo Francis, and Mopani Copper Mines Tax Manager, Chikushi Banda.

And Dr Musokotwane reminded the delegation that the people of Zambia have high expectations in the investment that IRH has made in Mopani.

“This is why 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,” Dr Musokotwa said.

The Minister took the opportunity to affirm the government’s business facilitation policy stance aimed at growing the economy in a sustainable and competitive manner.

Dr Musokotwane also informed the visiting team about the availability of other investment opportunities in mineral
exploration, mine development and value addition.

International Resources Holding, based in Abu Dhabi, United Arab Emirates, has a 51 percent stake in Mopani Copper Mines.

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