Friday, February 23, 2024

Government committed to leveraging its vast mineral wealth – Mines Minister

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The government says Zambia is leveraging its vast mineral wealth to spur economic transformation.

Minister of Mines and Mineral Development Paul Kabuswe said the government has started an electric vehicle battery manufacturing program with neighbouring Democratic Republic of Congo (DRC) which is being promoted within the private and public investment sectors in Zambia among other strategies.

Mr Kabuswe stated that despite the government being in office it has already made strides to work with its neighbours for maximum benefits from the minerals.

He said this when addressing a Ministerial symposium preceding the opening of the Annual Mining Indaba in Cape Town, South Africa.

He said Africa should stop wasting time on negotiations but focus on exploring its mineral wealth.

“We need to stop wasting time on the negotiating table. Africa has a lot of minerals that need to be mined. The continent risks losing out if we delay in mining the minerals,” said Mr. Kabuswe.

Mr Kabuswe also called for mutual respect by both investors with the money and countries with minerals.

The Mining Indaba has attracted more than 7000 delegates, 500 investors, 530 mining companies and 48 ministers from different countries.

The Indaba provides a vital platform to create space for networking and creating investment opportunities.

The Minister is also expected to hold bilateral meetings during the indaba.

His delegation comprises officials from State House, the Ministry of Mines, Ministry of Commerce, Trade and industry, the Zambia Development Agency, ZANACO, ZCCM -IH and the Zambian High Commission in South Africa.

Minister of Finance and National Planning, Situmbeko Musokotwane is expected to join the delegation tomorrow.

This is according to a statement made available to the media by First Secretary Press and Public Relations Zambia High Commission of South Africa Tamara Nyirenda yesterday.

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