Mines and Mineral Development Minister, Paul Kabuswe says the management and pricing of minerals on the African continent is critical for the continent’s realization of its benefit and prosperity.
Mr. Kabuswe said this on the sidelines of the AU Mid-Year Coordination meeting in Lusaka today that Africa is endowed with vast minerals and that countries need to work together because there is a lot of strength in unity.
He cited the gold sub-sector and the pricing mechanism as one area that requires Africa to realize benefits from.
Mr. Kabuswe charged that Zambia has huge amounts of gold in various parts of the country which are in the process of formalizing.
He indicated that his working trips to Ghana, Tanzania and Botswana have opened up opportunities for Zambia’s small scale sectors which are now being formalized.
He said the African Union Summit should unite Africa and see how it can exploit its mineral wealth and realize the potential it has.
“Africa can get the real benefits from the huge mineral deposits because it controls 70 percent of the mineral endowment on the globe yet we look like a very poor continent,” he said.
And local delegates have described the AU Summit as progressive for the African continent.
Leader of all Progressive Alliance Party, Simon Banda said the summit has marketed Zambia and provided linkages and networks for Zambia to be known not only on the continent but the world at large.
“From today onwards Zambia will never be the same because it’s various sectors ranging from mining, tourism , agriculture and others have been marketed,” he said
He added that this is an opportunity that has been anticipated for a very long time and it is paramount that Zambia should ensure to exploit all the avenues.
Meanwhile Foreign observers have applauded the African Union for coming together to discuss ways to collaborate with other partners on the global community in order to address the challenges African countries are facing.