The Zambia Chamber of Mines is elated by the high profiling of the Mining Industry as one of the key sectors slated to drive the growth of our economy under the new administration. From the views given by His Excellency President Hakainde Hichilema, in both his acceptance and inaugural statement, we are very confident that the mining sector will resume its frontal role in the economic development agenda of the new administration.
The seriousness of the new government concerning the key role the Mining Industry will play has been reiterated in the statement on the future Copper Production outlook for Zambia made recently by the newly appointed Minister of Finance, Hon Situmbeko Musokotwane.
Chamber of Mines President,Dr. Godwin Beene said, Zambia’s geological endowment and its stature as a beacon of stable political democracy founded on strong adherence to justice and the rule of law give the Mining Sector every chance to meet the ambitious medium-term growth targets the new administration has set out.
To get to the two-million-tonne medium-term goal, the lion’s share of growth in copper reserves will come from investments in the development of the existing and proven ore reserves of the old Copperbelt, and igniting activities (exploration and mining) in the non-traditional mining areas across the country. The Zambia Chamber of Mines and its sister organization the Association of Zambia Mineral and Exploration Companies (AZMEC) make themselves available to assist the new administration in working out policies that will provide an optimal environment to see the attainment of this objective.
Never in the last hundred years has there been a better time to initiate this mining project pipeline building, which is cardinal to achieving a balanced portfolio of exploration, development, operational and mature projects that will yield optimal revenue generation, and more importantly, participation of Zambians in mining projects. The combination of a greening of power generation, the growth in Electric Vehicle sales and in their attendant charging infrastructure assures this demand growth to continue in the medium to long term. The recognition of this fact by the incoming administration is bold and commendable.
The industry is keen to as soon as possible, actualise the close partnership with government that will be needed to deliver these results above and beyond the initial US$2.5billion in expansions already committed to.
The Chamber of Mines is confident that Mineral explorers will be attracted to invest and bring forward to maturity pipeline projects that have up to now been on ice due to constraints brought about by successive unattractive fiscal regimes primarily predicated on an increasingly desperate “cash grab” mentality that ignored the long-term nature of mining, and that existing operators will release the capital for development and production projects.
The key factor in igniting this pipeline of expansion and exploration driven growth is the expedited implementation of a stable mining policy and tax regime that will make the cost of capital affordable and secure the confidences of global markets, foreign and local investors.
We are tired of political dribbling when it comes to our mines. We should demand at least 60% local ownership on new mines chapwa. Use all the jargon you want, 60% will mean real jobs for future generations. Grow ZCCM-HH…sorry IH so that it can have the capacity to be a global brand in the sector and compete with the likes of Barrick Gold or RandGold as they are formally known.
Hmmmm…. ba LT naimwe ushe ku’nyu’nya ni kutukana?
We worked under KK, FTj, LPM, RB, MCS, ECL. We’re now under HH and we are still talking but no change. Time to retire and give room to new people. Who I am talking about knows what
I can hear the protests coming already: Zambians must do this themselves, leave out the foreigners. Well, Zambia is BROKE, where is the money going to come from for these investments? Outside money is NEEDED and badly, the new government should concentrate on a legitimate mining structure including taxes, and profit in the process.
Government must concentrate on getting the infrastructure in place, especially power. Mines need a LOT of power, and Zesco is not able to develop itself, mainly because the last government using the utility as a cashcow rather than invest in it. Split up Zesco in generation, transport and distribution companies, and get independent power producing companies involved. Many Zambians are interested in that!
#3 No Corruption… I don’t know how old you are but it’s known fact that our mines were given to foreigners because Zambia was broke. Thirty years down the line it’s the same song. We operated efficiently and profitably as RCM and NCCM as two separate entities with GRZ on 51 percent in each. When I efficient I mean efficient.
Luanshya copper mine must be checked also.too much old people young ones they don’t work freely
Today’s mining set up cannot employ more people than they have. The owner of the mine will set a target for production ie tonnes ore at the grade which will give him so many tonnes of the finished metal. To achieve this he calculate the number of machines required, drill rigs, loaders, trucks etc fuels. The human factor is the last in this calculation. Unlike the past today no owner wants auxillary departments like human resources, community services, medical etc. Only core business related jobs are required. So to expect a private mine to solve our unemployment is somewhat far fetched.
The new government has started on a very good that even the chamber of Mines is acknowledging. I am just wondering why Radio phoenix is not bringing that David Kapoma chap who insisted PF would be in power after elections and challenged them that call me on Radio Phoenix on the 14th August 2021 for me to come at attest.