Tuesday, June 18, 2024

EITI Report to Inform Zambians of all the Tax Payments the Extractive Industry Pays to the Government

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The government has launched the 2019 Zambia Extractive Industries Transparency Initiative EITI Report.

Speaking at the official launch in Lusaka, Mines Minister Hon. Richard Musukwa said the reports will promote transparency and accountability in the mining sector.

Hon. Musukwa said the EITI report will keep the public informed of all the tax payments the extractive industry makes to the government.

“And further the reports are done so that on the part of government the public is aware of how the resources received from mining companies are disbursed in a transparent manner. This 12th EITI report is based on the 2019 financial year,” Hon. Musukwa said.

He said the mines and minerals Policy underscores the importance that the government attaches to the mining sector.

“This commitment can only be complete if the country benefits from the natural resources through prudent management of the mining sector. Government is happy with the works EITI is doing to ensure that the proceeds from the mining sector are accounted for in a prudent and transparent manner,” He said.

And Hon. Musukwa urged unlicensed small scale miners to formalize their operations by obtaining mining licenses.

“Zambia is endowed with a lot of natural resources some of which is mined by small-scale miners who are unlicensed and the government has embarked on an exercise to ensure that all people who explore the minerals are licensed,” Hon. Musukwa said.

“Further government through EITI and PACRA has started implementing the beneficial ownership requirements for companies to disclose their beneficial owners and help government fight illicit financial flows in the extractive sector and the entire mining chain,”

4 COMMENTS

  1. This is welcome, these mines have profited from undeclared exports of minerals considered as by-products of the copper mining process. As we demand for transparency from the foreigners, we should also not forget that the government is now effectively in charge of KCM and the gold mining in North-Western. Transparency is also demanded from these operations, it’s called “leading by example”….

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