Hon. Musukwa addressing the Mines and Money Conference in London
Hon. Musukwa addressing the Mines and Money Conference in London

Minister of Mines and Mineral Development Richard Musukwa on Monday addressed Europe’s largest Mining Investment event, and invited investors to take advantage of the stable polices and vast mineral resource potential in Zambia.

Giving an overview of the investment opportunities in Zambia at the Conference in London, Mr Musukwa highlighted that ratings by globally reputed institutions attest to the conducive and competitiveness of Zambia as the best destination for investment, despite the global and domestic challenges.

He cited the World Banks’ 2020 Ease of Doing Business Report which has rated Zambia as one of the top 10 best performers in Africa, ranking 7th in Africa, and 5th in Sub-Saharan Africa.

“Zambia is a favourable investment destination for mineral development and mining. We have unexploited vast potential mineral resources aside from the traditional base metals in the country”, he said.

Speaking during the same event, ZCCM Investments Holdings Plc Chief Executive Officer Mabvuto Chipata said even though Copper remains ZCCM-IH mainstay commodity, the institution is focusing on commodity diversification within the sector.

Mr. Chipata stated that ZCCM-IH is now focusing on developing Greenfield projects in other minerals such as gold, manganese, vanadium and cobalt among others, in an effort to de-risk the portfolio and create new revenue streams.

“ZCCM-IH is working in collaboration with the Ministry of Mines to ensure formalization of artisanal and small scale gold miners, and also participate at a large scale in terms of mining as a company as well. We have since started with preliminary exploration works on a potential large scale mining operation for gold in a prime area with a target to start operations next year” he said.

Mr. Chipata added that Government is promoting the setting up of businesses within Zambia to utilizing minerals in the manufacturing of finished products.

He gave an example of iron ore deposits that remain unexploited and can be used in the iron and steel industry with SADC and COMESA regions offering ready markets.

The Mines and Money Conference opened its doors to the public on Monday 25th November 2019 and will run until 28th November 2019.

This is according to a statement issued to the media by Abigail Chaponda the First Secretary for Press and public Relations at the Zambian High Commission in the United Kingdom.

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22 COMMENTS

  1. Am embarrased to have a kaponya speaking on behalf of my country. Is it any wonder that everyone despises us?
    And why keeping running around looking for “investors”? Why the hell cant we run our own stuff? We could have started many mines with our own money if PF wasnt so full of thieves.
    And then you see cadres coming on this blog blaming multinationals for the ills in the economy! Dishonest to the core! Here is your minister of mines busy begging for investors to come and own mines in Zambia. Justify why you are busy blaming multinationals for the terrible economic performance. Come on am waiting!

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    • What is Mining Investment Forum got to do with Lungu’s picture? This is how Dull PF leadership is? People already know the Zambian president. So his picture will attract investors? This Bootlicking mentality will kill our country.

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    • I shook hands with Musukwa last week at the second national mining conference held at the Garden Court in Kitwe. In his brief speech, he did not spell out anything to encourage Zambian investors in mining.

      I am not surprised that now in London, he feels that only outsiders are going to spearhead development in Zambia. This is a collective failure of leaders now and in the past …

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    • Over 50 years after independence still inviting people to come and exploit you. This is sad and pure mediocrity of leaders the country has. Bwana minister just get on with it and train you people, stop corruption by your Head of State and develop you own country then other investors can then come and participate. Otherwise Shut up!

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    • Savimbi spent 26 years killing the same people he wanted to rule. Sounds familiar? “Panga for Panga!” “Defend yourselves!” Words from a terrorist H-organisation masquerading as a political party. HAZALUZA HAGAIN.

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    • Richard Musukwa is a former primary school teacher, who can he woo who is sober minded.
      These PF are dull deceitful people especially with what has been happening at KCM, where a PF junior lawyer is now CEO of a mine, you have not clarified your position but since Lungu returned from India you have toned down like Tayali after he has been given fuel money by Kaizer. You have not clarified your position on Lower Zambezi NP after you ate the investors money.

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    • HONESTLY, WHAT DOES ZCCM-IH DO?
      CAN THEY POINT OUT WHAT THEY HAVE DONE WITH ALL THE DIVIDENDS THEY GET FOR REPRESENTING GOVERNMENT AT ALL THE BIG MINING HOUSES IN ZAMBIA?
      ALL ONE CAN SEE ARE SMOKE AND MIRRORS
      WITH THE KWACHA PLUMETTING TO ALMOST FREE FALL, ZCCM-IH MUST JUSTIFY ITS EXISENCE

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  2. Pf cadres are dull, you see how there bosses are getting rich alone while the wallow in poverty. A party chairman getting a huge contract all to himself leaving cadres with nothing. These people representing us are no where near to being business people or intelligent tycoons, they’re are just poor individuals busy parroting statistics the picked up from somewhere.those investors are smart to know you lying to them with fake data

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  3. Who would want to bring their money to a country that is ruled by people who are driven by a slogan informing citizens of

    ” money in your pockets in 3 months “

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  4. It’s a fact that Zambia has many mineral deposits! This knowledge has been there since the Colonial times. KK can tell you where these minerals are. The question our minister is not asking himself is why KK did not open up all our mineral deposits to mining at the same time. That is wisdom! You can’t open up a country to wholesale mining otherwise you will have no country to talk about after a few years of mining! If PF was UNIP, they would have turned Zambia into a wasteland by now. But we know what interests our PF friends have – they want to have contracts with the mines for selfish reasons! It’s evident from the happenings at KCM! Utukunkubiti are helping themselves!

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    • Who is going to invest in country with 20 hours of loadshedding unless that person is coming with his own power-supply

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  5. ZCCM-IH must wake up, identify potential mine area with vast mineral resources and find equity partners who will pump in money at 60-40% ownership. Zambians to run the mines. Once this is done, we will be in charge of our destiny.

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    • Identifying an area means exploration; exploration itself is an industry on its own that needs investment. How do you talk of 60/40 ownership when you have nothing to offer even at Kansanshi Mining PLC FQM has 80% and ZCCM has only 20% if Lungu has no sold it off already.

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  6. Why poor countries glorify their leaders.This mentality has impoverish many potential countries.What the hell has the picture to do with investment?That baboon type mentality has brought misery to our country.

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  7. No thanks will say the potential investor. Not in a country where arbitrary laws are introduced overnight along with the usual corruption and bribes.

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  8. A country where lawmakers can not abide by a court order to pay back accrued illegal salaries. What of repossessing someone’s mine who has invested millions.

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  9. HONESTLY, WHAT DOES ZCCM-IH DO?
    CAN THEY POINT OUT WHAT THEY HAVE DONE WITH ALL THE DIVIDENDS THEY GET FOR REPRESENTING GOVERNMENT AT ALL THE BIG MINING HOUSES IN ZAMBIA?
    ALL ONE CAN SEE ARE SMOKE AND MIRRORS
    THE WHOLE ZCCM-IH NEEDS TO BE REVAMPED TO DO SOMETHING TANGIBLE AND NOT JUST PRODUCE WORDS AND MORE WORDS

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  10. Serious investors feel shy to invest in something you can easily do on your own. They invest in countries that are themselves serious. We don’t have German companies investing in Africa for example.

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