Government says it will soon implement stable and predictable economic policies that will assist the mining sector to remain viable and help attain economic recovery.
Finance Minister Felix Mutati said there is need for the country to have stable policies that will help it achieve its macro-economic plans that will in turn steer the long term development plans.
‘’The long term outlook for the mining sector is positive. There is still hope in the mining industry. Stability in the mining industry and the policy will drive the long term positive outlook for the sector. ’’ Mr Mutati said.
ZANIS reports that the Finance Minister was speaking during an engagement with the chamber of mines in Kitwe today.
Mr Mutati said to solve the economic challenges the mining sector is facing there is need for government and the mining firms to collaborate to achieve macro stability.
The Minister observed that holding quarterly meetings with the mining sector will help evaluate the sectors performance and avoid shocks.
Mr Mutati said during the quarterly meetings, government will ensure to promote dialogue, transparency, and innovation and set clear bench marks to help the country benefit from the sector.
‘’Let us put our figures on the table. We should not have two parallel balance sheets but one balance sheet that will help our people. If we don’t dialogue it will led to suspension making the Zambian people doubtful’’ he said.
Meanwhile Chamber of Mines President Nathan Chishimba said over 13 billion US dollars has been invested in the mining industry in the past fifteen years by various players.
Mr Chishimba pointed out that that huge investments were injected in Luwana, Konkola, Kalumbila, Kansanshi, Mopani Copper Mines and Lubambe mines.
Mr Chishimba is optimistic that the future of the mining industry is bright because the country currently holds one point two metric tonnes of copper ore in its reserves.