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Saturday, July 11, 2020

Zambia Mines Minister assures investors ahead of August elections

Economy Zambia Mines Minister assures investors ahead of August elections

Mines, Energy and Water Development Minister Christopher Yaluma
Mines, Energy and Water Development Minister Christopher Yaluma

Minister of Mines, Christopher Yaluma, says Zambia is politically stable and has assured investors that their investments are safe even when the country goes to elections in August this year.

And the Minister held a meeting with the Oil and Gas Council in the United Kingdom to discuss on how the entity could collaborate with Zambia to explore and extract the vast potential petroleum resources in the country.

During the Zambia Mining Investment Conference held in London on Monday Mr. Yaluma said Zambia has maintained a reputable record of peaceful and democratic elections which makes the country a conducive place for doing business adding that the investment climate in Zambia was characterised by a stable microeconomic and political environment, which guarantee security to investment.

The minister said Zambia was an attractive investment destination that was trying to diversify in various lucrative investment which included tourism, agriculture, manufacturing, energy and mining but that the mining sector has, and will continue, to play a pivotal role in the economic development of the country.

Mr. Yaluma said despite the current challenges prevailing with regards to mining, the industry had continued to record positive growth and there was an increased mineral production, expansion of existing mines and opening of new mines.

He said there was a good working relationship between the Zambian Government and the mining sector as evidenced by the Mining Investment Conference.

The Minister said that Government’s policy is to intensify exploration activities to spur the development of new mines with the aim of creating employment, business opportunities and ultimately contributing to wealth creation adding that the Government recently adopted an articulate mining policy that provides for private sector-led investment in the exploitation of minerals resources meant to secure both returns on investment and significant contribution to the development of Zambia.

Honourable Yaluma also held discussions with Rift Petroleum, a subsidiary of Tower Resources PLC who are already involved in oil and gas exploration in Zambia and are looking to expand their operations.

He also met with Tullow Oil PLC, a major oil exploration company with operations in Kenya, Uganda and Ghana, among other African countries and are looking to undertake some oil exploration works in Zambia.

The minister said exploration for oil and gas provides for investment opportunities, adding that results from preliminary exploration works indicated that Zambia had vast potential in petroleum.
He encouraged the companies interested in the oil and gas industry to come to Zambia and explore the huge opportunities unfolding in the sector and that the Zambian Government was committed to facilitating private sector led development of the oil and gas industry in Zambia.

He said the London meeting was a success, and expressed optimism that it would attract more investment into Zambia for the benefit of the people.

“This has been a successful trip. A lot of investors want to invest in Zambia and they are settling for Zambia because the investment climate in Zambia is characterised by a stable macroeconomic environment, stable political system and investment guarantees and security. We had a meeting with Oil and Gas Council here in London and we discussed how we can collaborate on this issue. We want them to help us and connect us to the right people,” the Minister said.

After the meeting honourable. Yaluma had exclusive interviews with some of the world’s top news media that included Bloomberg Magazine, Reuters, Debtwire and the Economist. The Minister featured on BBC Africa Radio and appeared on a live TV programme – BBC Focus on Africa.

The Oil and Gas Council provides a forum where current and arising issues for the oil and gas supply chain can be discussed. It advises the UK Government on the implementation of the industrial strategy for oil and gas as part of the UK’s Industrial Strategy. The Council has 23 members including six Government representatives, one Trade Union representative, 14 industry representatives and two representatives from Oil and Gas UK.

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  1. PF has ruined Zambia. Whats the point of getting new investors using lies when we cant keep the existing ones in the country. What is this assurance based on since the situation on the ground is pretty different? Lots of violence going on. Just the fix the economic issues and violence at home and investors will come.

  2. Jusy sat that even if government will change and for sure you know kuya bebele you idots…. bastards….

  3. I’m trying to understand what Yaluma is saying. More like a kid bragging about his day at the play park (maybe more like on the escalator as Trevor Noah would say) after dodging class.

  4. How can this dull man be still in the job…look at the difference between in performance between Dora and thos clown!!

  5. Do not listen to this man, he is a complete lier, and what he is saying is just from his head, only a fool will do get listen to you mudala.

  6. This is how a NORMAL person is supposed to talk about his country. Other countries have worse problems than what we are going through. I have never heard anyone talking rubbish about their countries. Only those that are really sick and bitter. I think ECL will still be president after the August 2016 elections

  7. His appearance on BBC Focus on Africa (TV programme) was a disaster. The man was just fumbling. I now understand when the late Sata said he had useless MPs. The calibre of the PF ministers is very bad no wonder PF keeps on poaching MPs from opposition parties.

    • Because of the NEGATIVE CLOWNS AND THIEVES that are supposed to be fixing our economy and all they are interested in is getting re-elected so they can borrow and steal more!

  8. After his pathetic interview performance on BBC, this crapper thinks that real investors will invest in the Country after his childish clueless explanations?

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