zambia: mfez to make lumwana world-class busin

Zambia: MFEZ to make Lumwana world-class business hub

LUMWANA in Solwezi in North-Western Province, which five years ago was just a greenfield with a few villages dotted around, is now home to a billion dollar mining investment with thousands of inhabitants benefitting from the investment.
This is all thanks to commitment of one Australian company, Equinox Minerals Limited that decided to settle in a remote part of the country where comfort afforded to other investors such as good roads, power, water and basic supplies were but a dream of the local people.

And as if transforming a bush into a world-class business was not enough, Lumwana Mining Company (LMC), the largest single copper mine on the Africa continent, mobilising some 12 international banking institutions from around the world to support such a development, was not momentous enough. Equinox is not yet done.

Equinox has formed another company, Lumwana Property Development Company (LPDC).

Apart from being engaged in Lumwana town, commercial and retail developments, the LMC sister company is now hosting the Lumwana Multi-Facility Economic Zone (LMFEZ).

When fully operational, the MFEZ would attract investment of US$1.2 billion, with an estimated 13,000 jobs created in addition to the 3,800 jobs already created by LMC.

An initial investment of $60 million has been secured from local and foreign investors.

The objective of the MFEZ is to initiate industrial and economic development in the manufacturing sector near Lumwana Mine and to enhance domestic and export-oriented business activities through provision of competitive environments that encourage investors to set up businesses with relative ease.

The Lumwana MFEZ has attracted a global brand, Hitachi.
Companies in sectors which include fruit processing, copper smelting, fisheries development and general commercial agriculture are also keen to invest.

Zambia Development Agency manager MFEZ, Robert Banda told a North-Western Chamber of Commerce and Industry meeting in Solwezi that LMFEZ would soon start receiving applications.

?Lumwana MFEZ is open for business. It?s serious business in there. We have been assured they will start taking applications by the end of September. They are busy right now trying to zone the area,? Mr Banda said.

And with the planning disorder of Solwezi, the Lumwana MFEZ will surely give the people a break and breathe a breath of fresh air on how business ought to be done. It could change the way business is done in Solwezi, and the province as a whole.

During the Lumwana MFEZ launch, LMC managing director, Adam Wright said the mine was committed to value-adding relationships with local and international investors to create opportunities for the people of Zambia.

Mr Wright said after more than $1billion had been invested in exploration, preparation and development of the mining project at Lumwana and the associated infrastructure, the mine was under no illusion that mining had a finite life span.

He conceded that Equinox Minerals, LMC?s parent company, had enjoyed immense support from the Government and the traditional leadership in the area, Mukumbi, Mumena and Matebo since arrival in Zambia.

Lumwana town development is continuing to advance with 931 houses completed as at June 30, 2010.

The commercial and retail developments, including the recently-opened Lumwana supermarket, are advancing and a self-sustaining modern town environment preservation activity is being developed.

Commerce, Trade and Industry Minister, Felix Mutati launched the Lumwana MFEZ in June after granting the company a Statutory Instrument to operate the MFEZ within the 1,355 square kilometre Lumwana large-scale mining licence.