Dr. Kalombo Mwansa has disclosed that his ministry has partnered with the World Bank and the European Union in redesigning and  modernising the existing mining rights in the licensing system in Zambia.

He said the new mining system CADASPRE will position Zambia in line with
international best practices and that streamlining the administration of mining
rights will make the sector more efficient

The Minister said the mining sector in the country plays a dominant role in the
economy hence the economic and mining policies promoting private sector initiative
and investment in the development of  the mining industry.

Dr Mwansa said since ZCCM privatisation in 2000 more than US$2 billion has been
invested in the mining sector and underscored that Government will continue creating
and maintaining a conducive environment for private sector participation.

He further disclosed that efforts are underway to update the mining policy and
existing mining laws and regulations to suit the changing mining environment.

The Minister said the reforms will enhance the  already favourable investment
climate in the mining sector.

Dr Kalombo said Government intends to keep the mining sector risk free and Zambia a
highly attractive investment destination.

He said the stable and predictable fiscal resume prevailing in the country and the
legislative provision will continue to provide an assurance to both local and
foreign investors.

“The exploration activities which are in progress in Zambia have resulted in a
number of discovering which are likely to lead to the development of new mines”, Dr
Mwansa said..

The annual Africa Mining Congress 2007 has drawn international companies and
investors from around the World to Livingstone for a second year
running with a total of 24 mining companies represented at this year’s conference.
Participation has increased by 70 percent this year as compared to last year.

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