Government says it is working on a legislation aimed at enhancing value addition for the country’s mineral resources.
Minister of Mines, Energy and Water Development Christopher Yaluma says the move was aimed creating employment opportunities in the country.
Mr. Yaluma says his ministry was revising the mines and Minerals Act of 2008 aiming at promoting value addition to enhance benefits from copper and minerals.
The minister was speaking at the International Infrastructure and Investment Convention in Johannesburg yesterday.
Mr. Yaluma said the revision of the Act is among other things expected to make it easier for Zambia to participate in all activities across the mining value chain.
ZANIS reports that this is according to a statement made available in Lusaka by Zambia’s high commissioner to South Africa press secretary Nicky Shabolyo.
Mr Yaluma said the law was now with the ministry of justice after consultations from stakeholders and will soon be presented to parliament to be enacted before the year ends.
He pointed out that government’s vision was to have a vibrant and well organized public private partnership driven mining sector that would contribute in excess of 20 percent to the nation’s gross domestic product.
Meanwhile,Mr Yaluma who was later hosted on CNBC Africas “Beyond Markets” programme disclosed that Zambias next biggest economic mainstay after copper will be oil and gas.
He told CNBC Africa’s Godfrey Mutizwa that nine licenses were recently granted to successful bidders for gas and oil exploration in Zambia.
He said this would help government understand what other natural resources were available in the country.
Mr Yaluma said that with the geological mapping exercise currently underway, 40 percent of the country was mapped which implied that there were areas with unknown potential.
And on creation of infrastructure to enhance development, Mr. Yaluma said Zambia was inviting independent power producers to come on board and participate in the sector.
Mr Yaluma said government is further working to link transportation routes to networks like railway lines existing in some neighboring countries so as to reduce the cost of doing business in Zambia.
When talking about the mining industry and how the nation can benefit more, why have successive governments not looked at the possibility of creating a state owned copper marketing company (MEMACO)? The company could, under the law be the sole buyer of Zambian copper, using pre-agreed pricing mechanisims linked to the copper price at the LME? In my opinion, this would provide transparency to the copper sales and minimise tax avoidance. At the moment, commodity traders profit more from the copper than the country.
Zambia shall never benefit from its natural resources, certainly not under the current national mindset. You cant have visitors (foreigners) calling the shots in your home. How many times have Zambians cried foul treatment at the hands of these foreigners especially white South Africans.
Who doesnt know that Zambians are treated like second class citizens in their own country? That unless they are linked to Ministers, they are systematically excluded from meaningful business. Go to Kansanshi and you will find Austrialians and South Africans in masses out their for Business, why? Go to KCM and that becomes Indians, why? Go to Luanshaya Mine and its the Chinese, why? Zambians at all these places will be the escort and not the lead.
I would challenge Yaluma to deny he doesnt know this.
All talk and no action. How long have you been singing about revising the minerals act. To date nothing. You should be ashamed. Lazy and incompetent the lot of you are. Can’t you people set out to achieve something for once that you can be proud of?
If there is one minister who always issuing statements he doesn’t follow up its this empty tin…value addition to these ministers is how to be a good supplier and middle man like what one Fossil Chikwanda is doing.
These corrupt ministers are too compromised to ever pass laws that will benefit the taxpayer.
The Act change is not sufficient for Zambians to participate fully. Do they have the ability and means? There must be people out there willing to partner with Zambians to add value locally to the minerals if it is a natioanl policy.
Really benefits will only accrue to Zambia when indigenous zambian private sector own significant shares in the mining industry and the mining value chain. this requires to be incentivized by government policy. Tax debate is never the answer.
LO CHALO ENA KAWENA.
LO MALI ENA KATINA.
DREAM ON MR MINISTER!!
The minister spoke very well and his efforts to woo investors amidst competing countries for FDI and Major Energy and mining world class companies and Analysts at the IIIC Electra mining and Frontier Advisory sponsored forum. We were in attendance
Its time we had initiatives that were being shared including hosting of mining and energy forum and exhibitions with leading world companies in the world attracting coverage from world renown experts to support investments in Zambia’s energy and minining sectors
There is so much to be done as seen from and explained by experts in these fields and Zambia is surely very behind but rich in resources and skills to nature
The soil on which this Yafuma (amano) or whatever they call him was standing when waffling, is the same soil on which he and his foolish friends have allowed mines in Zambia to establish procurement offices leaving Zambian suppliers in the cold. KK succeeded in protecting Zambian Companies and he is still alive, why can’t you fools ask him to advise how you too can protect the local suppliers? Ubupuba bweka bweka fye! Umutwe nga eight inch block.