Rio Tinto a leading global mining group says it is investing in mineral exploration in Zambia.
Rio Tinto which has been doing extensive mineral exploration in Zambia also is hopeful that they would embark on developing a mine once exploration is successful.
Company Director of Exploration, Dr. Ken Tainton said the company is focused on finding and mining copper and cobalt in Zambia and is hopeful that the current exploration work will result in mine development.
Speaking when he met the Zambian team, Dr. Tainton said the company is spending $250 million dedicated to mineral exploration world-wide, and that the substantial amount was being spent in Zambia.
He said the company has engaged in joint ventures with licence holders and employs local staff adding that the company uses local drilling companies for its work.
And Minister of Mines and Minerals Development Richard Musukwa says government is keen to guarantee security of tenure for mine licence holders.
He said government recognized that mine houses expected financial return on their investment and an ideal environment has been made available in the country.
And Deputy Secretary to Cabinet, Christopher Mvunga said government recognized that it needed to provide a business-friendly environment to allow the private sector to create jobs and pay taxes.
Mr. Mvunga said the recent revenue and tax measures were designed to encourage benefits to the local economy but would not stifle investment and growth to the sector.
He called on mine houses to involve local communities, small scale miners and suppliers in their value chain.
According to a statement issued by Emmanuel Mwamba, the Zambian High Commissioner to South Africa, Mr. Musukwa said government was open for dialogue for any mine house that anticipated challenges with the recent tax changes.