10 MARCH 2023
Renewable energy key to driving sustainable growth in Zambia's mining sector
Key take-aways from the Investing in Africa Mining Indaba
FNB Zambia is thrilled to have participated in the prestigious "Investing in Africa” Mining Indaba in Cape Town, South Africa. We had the honour of engaging with diverse stakeholders and potential investors and noted with positivity the keen interest in Zambia as a recurring theme in our deliberations.
We firmly believe that increasing investment in the sector will foster its growth and bring Zambia closer to meeting its production targets in the short and medium term. During the conference there was also particular focus on creating a conducive operating environment that supports such growth.
The Energy discussion, particularly the use of renewable energy sources, took centre stage. We acknowledge that this, together with other ESG considerations such as community support, labour welfare, and social issues, are key to driving sustainable development in Zambia's mining sector.
Says Joseph Mudondo, Head of Corporate and Investment Banking at FNB Zambia: "We remain committed to supporting this critical sector of our economy across the entire value chain. Recent activity includes us being instrumental in assisting FQM Trident, a subsidiary of First Quantum Minerals, to remain compliant with the Mines and Minerals regulations by issuing a USD12.78 million Environmental Guarantee. RMB was also appointed as financial advisor to Konkola Copper Mines in the mining house’s quest for a new equity partner with an investment size of $1.2-billion to expand and develop the Konkola Deep Mining Project."
FNB Zambia will continue to work hand in hand with all stakeholders to unlock the numerous growth prospects that seek to drive the sector forward.
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