Copperbelt is ready for a rebound – Lusambo

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Coppperbelt Minister Hon. Bowman Lusambo speaking at the Copperbelt Consultative meeting
File:Coppperbelt Minister Hon. Bowman Lusambo speaking at the Copperbelt Consultative meeting

Copperbelt Minister Bowman Lusambo has assured the nation that the Copperbelt Province is now ready for an economic rebound following the steady rise in metal prices.

In an interview with Zambian Journalists on the sidelines of the ongoing 2017 Mining Indaba in Cape Town, South Africa, Mr Lusambo said the Copperbelt region is now poised for a change in its economic fortunes.

He has since commended some mining houses on the Copperbelt that have started re-hiring workers who were laid off when metal prices fell in 2015.

Mr Lusambo said the decision by the mining firms to start re-employing the miners is an indication that the Copperbelt is now on the path to recovery.

The Copperbelt Minister who is part of a high powered government delegation led by Mines Minister Christopher Yaluma said the Mining Indaba has provided a good platform to market the Zambian mining story to the investor community.

He said the presence of the Zambian delegation at the Indaba has reignited interest into the Zambian mining sector by a broad range of mining investors.

Mr Lusambo who echoed Mr Yaluma’s presentation during his key note address to the gathering said the Zambian investment climate is one of the best in the world.

“I wish to restate what Hon. Yaluma submitted during his presentation that Zambia remains one of the best investment destination in the World. The country is ideal for such long term investments such as mining because of its peace and stability and an entrenched Rule of Law. So our message here to the rest of the world is that as Zambia, we are open for business,” Mr Lusambo said.

He added, “the interest about Zambia that has been generated here after Hon. Yaluma’s excellent presentation has been very exciting and overwhelming. We are looking at attracting credible investors into our mining industry arising from this very important conference.”

He also announced that the PF administration of His Excellency President Edgar Chagwa Lungu is focused on diversifying the country’s mineral production from base metals to other high value minerals such as precious stones.

Mr Lusambo said the Copperbelt Province has massive deposits of precious stones such as gemstones, Emeralds and Green Tourmaline whose production need to be harnessed.

The Mining Indaba which is the largest gathering of financiers, investors, lawyers and mining professionals in African mining opened on Sunday and closes on Thursday this week.

32 COMMENTS

  1. +14
    -1
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    I can’t stand this sorry excuse of a carder who has brainwashed people on here that he is working hard.

    He is all talk and quiet ambitious which though jotnsnbsd thing but had done nothing of substance apart from talking too much.

    He hadn’t conned me.

    Keep being coned. He is a cadre end of.

    Thanks

    BB2014,16

  2. +8
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    Rupiah Banda running the country, Mutati exhibiting good governance and fiscal discipline at Ministry of Finance, and Lusambo on the Copperbelt, we come to find out that MMD is actually better than PF.

    • +2
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      @Nono (Bashi), I would like to think of them as thieves who duped the country and have again sneaked in by duping the whole President (Ka Chagwa) and the process to come back to doing what they do best, STEALING IN BROAD DAYLIGHT. After all this I can think of them as Zambians.

    • +1
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      Why should it be copper prices to help CB to rebound? Bring in other lasting solutions other than wasting assets. What will happen when prices go abruptly down? Boast of what you can create not what comes across and is controlled by factors you can change. That’s when I will say you are working.

  3. vote

    “All the costly and endless so-called international trips & State visits Sata embarked upon by were meant to attend to his failing health. The international community & indeed most foreign investors were aware of the true state of Zondwe’s health, as he has visited & received treatment in their hospitals. “On account of his sickness, the president was manifestly not in control of affairs & had been hijacked by some cabal, who were directly in control of all critical national issues, even to the exclusion of the Vice President & indeed leaders of the ruling APC. Neverthess, malilo banakangiwa ki bids.

    • vote

      @3 muuba…. kwena uli shilu, lunacy madnes your demonic evily hatred for Ba SATA got to do with the story above and of the 6 presidents zambia has had, who travelled less?
      uli mwana wambwa iwe. during ba SATA, dollar was K5/$1 what is lunacy saying.

  4. vote

    Just pay contractors including your relative Chishimba Chimbwili Mwamona Nomba company. He cried all over the media PF not paying contactors. By the way, you Yaluma vowed not to leave CB till all contactors are paid. So you lied as per PF legacy ‘ Donchi Kubeba’. Typical Bemba.

    Reply

  5. +1
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    You can’t cheat the world with good presentations written by some clever Permanent Secretary. The fact is that PF has no proper mining policy. They solve or try to solve problems pertaining to mining through management by crisis and the Mining companies take advantage of this.
    Lusambo wais Rupia Banda’s bouncer after he left Government and Nevers Mumba;s bouncer who was kept at bay by Mwanawasa. Now PF picks such rubbish as minister surely, can you get any development with such leaders? Kikikikikikiki ba PF SHAME ON YOU.

  6. vote

    I remember the days of Issa galedou……………….can we go back to that era where smuggling will be key.

  7. +2
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    The only remedy to our economy is agriculture copper has failed us ,we need to try other stories than copper .
    We are always cheated off by the clever people on the wasting copper.
    Zambian need to think harder than they do now and be credible enough to run our nation, I for I am disappointed by some of our uncommitted ministers who disrespect their offices for pleasure Dora can be the perfect example , I just wonder why she hasn’t resigned yet .

  8. +2
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    Lusambo says “the decision by the mining firms to start re-employing the miners….”.

    I am just waiting when some PF whatever, will come up to say, the PF government has created the the 500 000 jobs that they promised, that is, someone will try to own the creation of jobs to gain political points.

  9. +1
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    What has Lusambo contributed to the steady rise in metal prices resulting into an economic rebound of Copper belt? Why should he celebrate the loudest & claim victory when his contribution & that of his govt is that of being spectator to the global trends sorting themselves out. Is he better than other ordinary Zambians who were watching helplessly waiting for the global trends to turn out in their favour just as they wait for the sunrise & sunset without intervening in the process? At least ordinary Zambians were praying to All Mighty God to intervene whilst he was busy campaigning deceiving people with vague reopening of Mulungushi Textiles.

  10. vote

    MMD at work RB show these fools what you made of. You know PF removed RB and now he is back, PF run into the bush pleas “mwapya baisa” ask Mutembo Nchito……Okeeeey

  11. +1
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    As MMD we came in to assist the PF because we saw that they were failing. For example, we left mealie meal

  12. +4
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    MMD with there weakest elements actually making Zambia competitive. Imagine if we were to get Mwanawasa’s MMD ministers. Those knew exactly what work was.

  13. vote

    Ka Mushota, atleast he is trying to work. You of all people, an economic refugee should not criticise him.

  14. vote

    Dancing at the prospect of newly employed miners spending more in beer halls. That is rebounding according to PF.

    Open factories and manufacturing plants to supply the mines. Instead everything used by the mines comes from SA even work cloths.

    There in kabwe at Mulungushi textiles deadNbc showed some PF caders trying to work out what those old cotton machines did
    The best they could do was steal scarp metal…..then say we are waiting for a Japanese investor. It will take 2 yrs to set up.

    PF PF PF….

  15. vote

    This is good! Well saifd ba Lusambo! We predicted the rise in Copper Prices! This is the backbone of our economy! Like it or not Zambia depends on Copper! Agriculture is important and it is growing but for now Copper is the mainstay and with infrastructure projects underway in the US we expect the prices to sky rocket in the coming months.

  16. vote

    Oops copper prices dropped on the world market yesterday.very volatile at the moment….largest user of copper is china not usa. Trumps says buy america so that will benefit zambia how?

  17. vote

    On this picture sitting on the right is SENOIR CHIEF Chiwala of the lamba people, am sure LUSAMBO must be a lamba chap no wonder he is a boot leaker. From MMD to PF SEBANA WIKUTE

  18. vote

    Just listening to Radio Icengelo on street vending with two opposing sides : The Chisokone market committee is calling all former street vendors to go and occupy the empty tables at the market while the latter are pleading with the local government to allow them trade on the streets after working hours.

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