The four days 2022 Investing in African Mining Indaba has opened in Cape Town South Africa with a call for African countries to work together towards harnessing the potential that lies in the continent’s mining sector.
And President Hakainde Hichilema who has joined other Heads of State and governments and about 6500 delegates at the indaba has pledged Zambia’s active participation in Africa’s economic agenda through unlocking investment potential in the extractive industry.
Delivering his key note address at the indaba, President Hichilema underscored that Africa will always remain a preferred investment destination in mining production and its value chain due to its rich endowment in natural resources.
He explained that for instance Zambia and Democratic of Congo (DRC) alone account for 70 percent of the world’s copper production, an indication that Africa is the mining hub of the World.
President Hichilema said to this effect, Zambia has started reforming its mining sector in order for the country to maximize its potential for economic development.
He said the African leadership also need to work together and ensure that there is sustainable deliberate efforts to make the industry attractive not only to foreign but also local investors for the benefit of the continent.
The President added that the Zambian government is currently addressing the many challenges that disturbed the growth of the mining industry thereby affecting economic development of the nation.
He cited the changes in the mining licensing, launching of an online payment portal to curb corruption as some of the measures that government is taking to improve the mining sector in the country.
And Botswana President, Mokgweetsi Masisi noted that it is sad to see many African countries continue to be poor despite having rich minerals that have not been exploited.
President Masisi said this is why there is need for African countries to devise collective mechanisms that will help resolve the challenges of low mining exploitation.
First Quantum Minerals (FQM) Chief Executive Officer, Tristan Pascall announced that plans have reached an advanced stage by his company to double its investment by adding 1.3 billion United States Dollars in its Kansanshi mine in North Western province for the next 20 years.
Mr. Pascall said this follows the assurance and stance taken by the new administration to create an enabling investment environment for investors in Zambia’s mining sector.
He further thanked President Hichilema for providing clear policy directions to govern the operations of the mining industry in Zambia.
South Africa’s Minister of Mineral Resources and Energy, Gwede Mantashe emphasised the need for Africa to come up with resilient measures that will address the current economic shocks in energy supply by embracing value additional to its minerals.
Mr. Mantashe noted that there is need for concerted investment decisions among African leaders on how best the abundant natural resources can be processed into finished goods and address some of its challenges such as the one being experienced in the energy sector.
He added that with the coming of the Africa Continent Free Trade Area, the African continent needs to unite and further explore the untapped opportunities that exist in various mineral deposits across Africa.
” As Africa, we need to build resilience that will address the shocks in the energy industry, there is no way that we can be affected like this high energy prices when we have different mineral deposits across Africa and all we need is value addition in to processed products, in order to find lasting solutions to our problems,” he said.
With African countries , is always
“…As Africa, we need to build….”
“…..Mr. Mantashe noted that there is need for concerted…..”
“…He said the African leadership also need to work together and ….”
Even 30 years from now , it will be the same we need to…..we need to………
Useless……..
With African countries , is always
“…As Africa, we need to build….”
“….. noted that there is need for concerted…..”
“…He said the African also need to work together and ….”
Even 30 years from now , it will be the same we need to…..we need to………
Useless……..
HH7 you deliver your speech now get back on the plane to Lusaka. You are a Head of State not a company director…
The standard of livving is high in Zambia. People would rather go hustling than listen to speeches because you can’t postponed hunger. Hunger is worse especially for people like tarino whose parents only left words of mukasungane bwino bana bandi and a worn out nrc as well as Tarino’s birth certificate waiting for his death certificate now
And when he gets back to Lusaka, those poor service chiefs are already dreading being called to the airport to welcome the president, allegedly for saving the world. Oh no, sorry, he only sold out the country to some rich Chinese investors, totally uninterested in the environment. And please HH, please leave those ridiculous musungu white gloves home!
@1 Spaka
Kikikikiki please don’t become a disgruntled Lumbani madoda praise singer…..but you’re very right 30 years from now we will be singing the same song…..”As Africa we need to build”…..blah blah just wasting tax payers money on useless Indaba and the main beneficiary is Anglo American..Debeers and Vadetta
@1 Spaka
You won’t afford electricity connection ZESCO has increased more than 1 milion percent….you’re better off in that council house in the UK and tell your buddy Tarino Orange he should just stick his assssss in the UK…..HH is starving the whole Zambia to death
@Tarino, I don’t see anything to do in Zambia, it is better for HH to stay there with those people with money, and also he needs some $ex with some white lady…. Kuchinjako diet.
It is a pity President HH is being overworked. A delegation to the Mining Indaba should have been headed by the Minister of Mines who should have been accompanied by specialists from the Ministry of Mines and academics from CBU’s and Unza’s Schools of Mines. May be his Ministers are dull or they are not permitted to think and/or articulate their expertise.
Don’t know where the 70% share for Zambia and Congo of world copper production the President quotes came from. 13% is closer to reality.
2020 World Copper Production (‘000 tons)
Rank Country Prod.
1 Chile Chile 5,700
2 Peru Peru 2,200
3 China China 1,700
4 Congo DR 1,300
5 USA 1,200
6 Australia 870
7 Russia 850
8 Zambia 830
9 Mexico 690
10 Kazakhstan 580
11 Canada 570
12 Poland 400
——————————–
World 16,890
Zambia + Congo = 13% of World production.
HH the speech therapist…..ZESCO CONNECTION FEES……you will miss Lungu…Tarino Orange forget about connecting electricity in that mdadada of yours in Kanyama compound
Waste of tax payers money. We have a lecturer for a president. He is better of working for unza and lecturing. He is not president material
A working President. If mining is our bread and butter, then let’s be serious! I like HH’ approach to hands on talking to other smart wealthy people. I would rather have him in cape town than cleaning drains on the side road in some part of Lusaka. Good luck HH.
It’s high time hosting of the African mining jamboree started alternating. I hereby submit thst the next conference e hosted in Lusaka.
Nostra .. -If HH7 was thinking like you always walking about with a boner in his pants I doubt he would have one cent to his name
Nostra which whlte woman can spread for such an ugly man and failure. Levels