ZCCM Investment Holdings plans to open a company that will supervise the mining of gold across the country.
ZCCM IH Chief Executive Officer Mabvuto Chipata says the move will ensure the country benefits from gold deposits dotted in over 21 districts, so far identified.
Addressing the media in Lusaka, Mr. Chipata also revealed that ZCCM IH will also partner with another company in gold processing, in which 45-million Kwacha is being injected in the setting up of a processing plant in Rufunsa.
He also revealed that the mining conglomerate has undertaken initial exploration works in Mwinilunga’s Kasenseli area and results of the soil and rock samples will be ready in 15 days.
He said the exploration works will continue at Kasenseli with preparatory works to start mining within the first quarter of next year.
Mr. Chipata also noted that the investments company will be setting up buying points for gold from small-scale miners after their formalization which is underway as part of curbing smuggling.
He said ZCCM IH has also procured an artisanal gold washing plant and a smelting kit worth one million Kwacha meant to improve production as part of building capacity among small scale producers, whom it will buy gold from.
And the same briefing Ministry of Mines Permanent Secretary Barnaby Mulenga said government has put in place security measures at various sites with gold deposits.
These include Mumbwa, Kasenseli, Rufunsa and Luano among others while arrangements for formal operations are being put in place.
Mr. Mulenga said government has declared gold a strategic mineral in order to provide a well-coordinated mechanism of exploiting the resource.
Mr. Mulenga has since appealed to Zambians to take interest in investing in gold mines.
You have not given us the full information about those districts where there is gold deposits , is there something to hide 21 districts need to be named so that we know where you can find the gold deposits , mr minister give zambians the full information speaking in parables is not helpful to the people.
Sadly whatever money will come out of this will only benefit a few cadres and the corrupt PF leadership
How narrow a view. How can these contracts be made to benefit a few when they are national documents belonging to every Zambian?? Mwa kwatako amano, bane. Kula bwata bwata fye kwati ni mukachasu???
To open? Was this closed?
That was HH’s theory too. Government company with small scale attached to it.
Do same with agriculture.
Good idea.
Good let us just mine it ourselves. Listen to Dr. Habaazoka, please!
Like Dollar, Gold can be stock piled in reserves. This initiative is inspiring.
Go ahead.
They have been mining gold without wanting us the citizens to know. As soon as the video was shared of illegal gold mining and having been caught pants down, they now want to make you believe they are only just getting into this business. It is the same with marijuana exportation. This was being done by Sydney Chileshe who was arrested for it in 2004.
That’s the way to go. With ZCCM-IH under IDC as the main shareholder, better contracts will be drawn up unlike the contracts that gave foreigners more power in the 2000s contracts.
The best the PF can do is make any foreign investment have 50/50 shares with indigenous Zambians in any gold mining by foreigners
This is also an opportunity to make sure max profits from gold remains in Zambia….you need to start training a selection of Zambians how to run and operate small scale gold mines , graduates given loans to operate that will be paid back.
Other wise untrained Zambians ignorant in gold processing and selling running mines will only sell then to foreigners
Mine the gold and keep it in reserve to cushion the economy from shock, just like Botswana and its diamonds. Mining gold is not rocket science, we can do it ourselves or with a 60/40 controlling stake. It’s time we took bold steps and added value to our natural resources. I would worry more about the wealth distribution by this government than exploitation by foreign companies.
$3m investment? Is this a toy mine? Be serious ZCCM please. Don’t get into small scale mining!
It’s is good that Zambia is seeking to brought all gold mining under closer monitoring. Meanwhile, why do we only read of names from two main regions of the country? Where is the rest of Zambia in the public service?
Shut up NAMAZAI iwe
Finally ZCCM-IH is waking up from the slumber. Now I understand why the opposition has gone flat out to paint the present Government Black with Fake News. They know that Zambia, with Gold and Marihuana for medicinal purposes will be untouched.
God Bless Mother Zambia
Ikali
What happened to the cement company?
I think we deserve more information as this is a very significant investment for the country..iwe Chipata I am not sure why you are providing scanty details..please do your homework well before you dream of making such pronouncements atase!!!!!!!