By SANDRA MACHIMA
MIMBULA Mine in Chingola has resumed operations after a consent order was entered over the dispute between Konkola Copper Mines and Moxico Resources and two others.
And Moxico Resources chief executive officer, Alan Davies, said mining giant Moxico Resources would invest US$40 million in Zambia.
This is in the wake of the order by the Court of Appeal which ordered Konkola Copper Mines (KCM) to immediately withdraw 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, KCM PLC 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).
And the parties have since entered a consent order to terminate all litigations between them in relation to the subject matter with no liabilities against any of the parties.
Commenting on the consent order which has allowed his company to resume operations, Mr Davies said the company was relieved that the dispute involving his company and KCM was over and that operations have commenced.
Mr Davies thanked government for the continued favourable investment climate in Zambia which he said made the country one of the most sought after investment destinations in mining.
This, he said, made foreign investors feel safe in Zambia.
He said Mimbula Mine had contributed to the creation of jobs in the country and that hundreds more people would also work through construction and operation indirect work
“Zambia remains one of the best investment destinations due to its continued peace which makes investors not only feel safe but assured that their investment is protected,” he said.