have been demarcated for Gas and Oil exploration in three regions.
Mines Minister, Maxwell Mwale, says the blocks are in North Western, Eastern and western provinces.
He was speaking in Lusaka when he met a group of Chinese investors from Zhobgui group and the State Grid Corporation of China.
The two Chinese companies have shown interest in doing mineral exploration works in Mwinilunga district in North -Western Province.
Zhonghui Guohua Industry (Group) Limited and State Grid International Development made their intentions to invest in Mwinilunga during a meeting with Mines and Minerals Development Minister Maxwell Mwale and Minister for Trade, Commerce and Industry, Felix Mutati in Lusaka yesterday.
Zhonghui Guohua Industry (Group) Limited was represented by its chairman Mr Wang while State Grid International Development was led by Mr Du who is also the chairman.
Mr Mwale said past exploration surveys indicated that North Western and Western provinces also had gas and petroleum.
He said the Government would this year advertise a block for would be developers in the petroleum industry in the country.
Mr Mutati said even if the country was not spared by the effects of the global economic recession, the Government had in this year’s national budget proposed major incentives that would boost the mining industry.
Director geological survey department at the Ministry of Mines and Minerals Development, Kennedy Liyungu said Mwinilunga has strong indication of mineralisation.
Mr Mwale said the Government was open to foreign investments and was happy to receive the two investors whom he assured of the support from the Government.
Mr Mwale also urged the Chinese to invest in Zambia’s mining sector.
At the same meeting Commerce Minister, Felix Mutati, said Zambia’s mining tax regime has been adjusted to attract more investment.
And State Grid Corporation of China Chief Economist,Du Zhigang said his team is impressed with Zambia’s good investment climate.
Meanwhile President Rupiah Banda has called for increased investment in the energy sector.
President Banda says Zambia and other countries in Southern Africa are facing a shortage of power despite having abundant water resources.
The President said the Chinese are welcome to invest in the energy sector to help the country to generate adequate power.
He said Zambia needs a lot of investment to cushion the impact of the current global financial crisis.
State Grid Corporation of China Chief Economist DU ZHIGANG said his company will invest in the sector to help Zambia overcome the current power deficit.
The Energy deficit in the Comesa Region which stands at 20 percent will rise to 46 percent by 2011.
[ZNBC/Times of Zambia]
Some more good news for the economy!! Well done RB!
Excellent this give me hope too
But gentlemen when is “SOON”?
Ba guy imwe muli mbush i.
NO GIMMICKS WE NEED ACTION
iwe nai iwe is there any GIMMICKS here shuwa! These chocholi are not one of them KAYAYA they mean business get it in ur head
Good luck…we have heard stories such as this over and over and over again without any action at all.
We hope the oil industry will benefit everyone. Its long over-due since the oil was “discovered” without any progress made.
don’t get excited yet, even if there was to be indications of oil and gas, it will take years to develop the industry and you will never enjoy its benefits i your life time. examples in ? Nigeria, chad, Angola are some of the worlds major oil products but its benefits are not reflected given the embarrassing poverty in these countries. Just the way 80 yrs of copper production and billions of dollars revenue and nothing to show for. so matafe don’t raise your hopes for a beta life in your life time!!
Great analysis!
Its not about wanting to enjoy benefits in our life time!! This is the mentality that is killing Africa. People want by all means to get the best only in their life times, while they are in office and so on. That is why most Govts fail because they restrict themselves to such thinking.
No NO No !! It is all about the future of the Country and those who will benefit are yet to come. This is just the foundation we are excited about and not because we will get paid in the short run. I am speaking in the name of all bloggers who feel just like me that this is great news!! Excited yes!! Focused Yes. We know whats up!!
I will never enjoy success but my family will and am alright with that!!
Jamaco is VERY right,a good BASE for those to come is what is important ,here.Viva long term plans,etc.
Realism is critical in relation to the exploration of gas/oil…in Zambia!! The cases of Nigeria/Angola are underpinned by ideological issues and this is very significant in governance i.e. power relations for instance in the case of Nigeria…Chritians/Moslems!!
If every thing that we do is about self then we not any better than the selfish leaders that we condemn daily. This thinking is what has lead us to un mine copper in North western province still now. KK Knew about its existence but for fear of Mushala and self preservation did nothing to mine copper from there
MARTIN LUTHER KING SAID ” I HAVE SEEN THE PROMISED LAND. I MAY NOT REACH THERE WITH YOU. BUT WE AS A PEOPLE WILL GET THRE” AND THEY HAVE REACHED THERE WITH OBAMA. LOOK FAR. THAT IS WHAT IS IMPORTANT AS A COUNTRY.
For once I do agree with you ? don`t you think we need such selfless leaders in Zambia?
We have hearing of this oil thing for a long.. but no progress…Give us oil not talking
ok what solution do u subject u sound like u already know ati baletwishika?
ARE YOU ANOTHER MUNSHEBWA?
iye! why do we have to involve the Chinese in everything we do?these people exploit us to much,they don’t pay good wages to workers,sure we can get the white people to do it!
Please lets something significant something serious happen for mother Zambia. ACTION PLEASE ACTION being in the doldrums must come to an end let us begin to see glimmers of hope.
kas the burp? is that u my niga?
Kazim howz it?
The problem why we have all this exploitation is Zambians are not willing to things like mining Contruction or Engineering staff.
They would ruther go for “ANIHON-ANIHONE” ati ndine hopunzila type of cources Law ,Socialogy,Politics Human resources all these thing are
fyabupubafye. i think the best way is to forget about minerals and focus on re-producing good
buy a licence from HEIN BEANS and then mass produce it or copyright it to say
Fellow bloggers, this is good news & my only hope is that once the oil reservoir is found and/or even before that happens, good negotiating skills and clear cut policies are in place. If the Govt hasn’t got a firm team to negotiate, then it will take us long to benefit as a Country.
Reflecting back, when PLACID OIL OF TEXAS did some exploration in LUANGWA valley, they had signed an agreement with our Govt & Zambia would have started to benefit from the oil after 20 years, because we lacked negotiators! THANK GOD PLACID OIL MISSED THE TARGET IN 1987 to 1988, because if they did, Zambia wouldn’t have benefited from the deal up to date.
” Fellow bloggers, this is good news & my only hope is that once the oil reservoir is found and/or even before that happens, good negotiating skills and clear cut policies are in place. ”
And no corruption. The RP Capital saga is still fresh in our minds, as are the other cases minister Siliya is now defending herself for in court.
The government owes us complete transparancy – these are our resources, not the government’s. They are just our humble representatives, and it is time they understood that.
And why always atttract *foreign* investors, and not exhaust their effort building up local businesses. This is development on the cheap, and the results are predictable.
PLEASE UNDERSTAND WHAT IS HAPPENING AT THE TRIBUNAL. NO ONE HAS FOUND DORA SILIYA GUILTYOF ANY OFFENCE. WE ZAMBIANS MUST UNDERSTAND OUR LEGAL SYSTEM AND RESPECT IT. THE TRIBUNAL IS INVESTIGATING ALLEGATIONS BY HARRINGTON AND TEN NGOs. THAT IS ALL. DORA HAS NOT BEEN FOUND GUILTY.
RB please ensure that this will work out to benefite Zambians!!!!
I would want to first know what the conditions of investment are; why only Chinese companies are being attracted, and no Zambian companies (considering there are all these unemployed miners around); and whether the economoy and people of Zambia are going to benefit and how.
Nothing has changed since the disastrous ‘development agreements’ which saw Zambia lose out on the biggest boom in copper prices in recorded history. So if we are not going be ripped off again, I want to know exactly how much of the profit they are allowed to keep, how much taxes they are going to pay, whether labour laws are going to be enforced and whether employees will receive at leat the minimum wage.
True. I hope these chinese companies are screened. we shouldn’t just let every jim and jack of chinese who says they have an invesment plan in? Yes we r happy but hope they dnt come do their business and leave just as Kabwe was left with lead-poisoning. let’s wait and see.
MrK,
The investment space is for everyone foreign or local.Government has been exclusive but inviting all. Realistically there are no resources to loan citizens to the amount required in such industries.Look at the initial investment required to enter such industries.Do you believe Zambians could come up with anything to that tune other than the Zambia Airways Ponzi scheme drawing on Pensioners funds? If they did mobilize themselves and come up with required money, do you think GRZ would turn them down? Look at the emerald sector, only 7% has been developed yet there is big money and Zambians are just talking shops as usual.President Mwanwasa use to call them Good for nothing talking shops.
” Do you believe Zambians could come up with anything to that tune ”
Yes I do. Zambia exports about $4 billion per year in raw materials, and it was time those were taxed. There are so many ways you can create financing if you are blessed with all these natural resources. The government itself could exploit a mine, and use the profits to create infrastructure. No foreign ownership or miners required.
Some of the world’s institutional investors are pension funds. By the way NAPSA only invested $230 000, a footballers weekly wage, in Zambian Airways. This is just a political storm in a teacup!
I have heard such stories – they have ceased to be news now – before. Let us learn to talk little but do much.
YOU ARE MY MAN
Cool and keep well.
Mr “undereducate”. Makandi yobe.
But we have been told previously by the late Mwanawasa that oil had been discovered! How come we are still searching for it now?
Yea but you have first to ascertain whether the deposits are economic to be drilled. Further exploration will tell us what sort of reserves are obtaining in a particular field. It can take 10 years to bring the fiels into production. For example it took 10 years of exploration work and mine construction to bring Lumwana into operation.
The last thing I would ever want in Zed is oil. All you young boys getting excited should pack your bags and go to Nigeria, Iraq or Kuwait. Makandi wenu.
The remain poor !! Also poor minded!!
The remain poor?
Say that in English please!
“Then” just by reading you would know what is meant! Small things for little thinkers!!
Why so negative ,some kind of prophecy of doom .Remember your kind prophesied about blood shade if KK was to be removed from power in1991 did that happen none.
An epitome of a mixture of sadism and pessimism at its best ,please leave us to have a dream of hope .
Imwe guys take it easy.This issue of oil started during KK.He said that it was possible to produce oil from grass in eastern province.And nothing happened.During our late president,s reign It was said that oil has been discovered.How many times are you going to be discovering? Zambia full of drama and commed.
True KK had great fore sight despite some of his mistakes . He started talking about bio-fuel production instead of fossil oil even before some industrialized countries did .if only his successor had similar foresight, things could have been different in Zambia by now alas we picked on a con man for a President who wanted to erase kk`s name on earth out of vengeance
without mediocrity and panderfing to masses we can do it!
Imwe muletekanya first,pa Zed paliba commedy ka.Oil,oil hahaha.
Guys forgive me as at now i will stil be a doubting Thomas.Because this issue started a long time ago.If it is true that we have oil and gas i wil be very happy.For now its rhetoric to me.
Zambia is a Virgin Country! Anything is possible.
And you know what happens to virgins. :-/
Seriously though, we have to be meticulous not only about who gets to invest in the country, but how this investment fits in with a longer term development strategy.
Just to clarify, I was going to use a different emoticon. 🙂
If mistakes were not learnt from mining companies, you are heading the same way again. Investors are there to make a mint and not develop a nation. Scrutinise the contracts you are signing and drive a hard bargain. Mistakes are difficult to rectify unless clauses are in place.
Exactly. The government owes the people complete disclosure of of the terms of investment, and must debate these deals in detail, in parliament.
That way, we could be spared a second ripoff like happened over the mines.
Don’t forget about the real oil cartels. They call the shots. They change govts if you don’t play ball. Look at the poverty in Nigeria, Angola, the wars in Durfur and what happened to Saddam. Zambian Govt has to tread carefully on this. Oil has caused a lot of wars and misery to countries. Read more about oil companies like BP, Shell Mobil. You will find out about the plan they have on the New World Order. If not handled right. We will never see the benefits of producing oil. Venezualans are enjoying their oil but Hugo Sanchez has been leballed a terrorist because he’s providing for his people. They want to control the oil and they will.
Great point. Learn from other regions before we embrace oil exploration blindly. Knowing that this is an essential commodoty at global level, negotiate these investments to largely favour the Zambians when the time comes. Let these company take as little as possible out and let the greater portion of the profits remain. They want the business, they will take the consitions.
They want the business, they will take the conditions on offer.
Interest stuff.Maybe the economy will be better.Looking forward to it.
NOOOOOOOOOOOOOOOOOO NOT CHINESE. come on zambia lets bring real investors not infestors!!!!!!!!!!!!!!!!
Why does the state seem to be giving China a head start over other countries???..there is only so many stadiums that they can build!!!
Sorry to say but all my knowledge and instint tells me that there is little oil and gas that can be exploited economically in zed. Even if a good reserve was established, it would take many years to develop the oil/gas for production. However in zed we have other energy sources that we are not exploiting that can be more beneficial and stimulate the economy. We choose to ignore them and focus on oil and gas.
investment is always good for a country as it creates employment and a better standard of living.
without proper mangemet and good leaders Zambia is forever a dead country, so sad that the leader who would have made a difference have gone
All we Zambians can do is pray to our almighty to give us another better leader before the country goes for fire to ashes, so together please vote wisely with prayer, not bribery of beer and lie full words and promises told and given to you, let’s use our perfect pure uncorrupted brains to vote. For a better bright rich Zambia.**==
All we Zambians can do is pray to our almighty GOD to give us another better leader before the country goes from fire to ashes, so together please vote wisely with prayer, not bribery of beer and lie full words and promises told and given to you, let’s use our perfect pure uncorrupted brains to vote. For a better bright rich Zambia.