Minister of Mines and Minerals Development Richard Musukwa says for Zambia to continue attracting foreign direct investment in sustainable mining projects, it is important to reduce the risk that comes with mining investment by making sure that the investors have access to adequate geological information.
Mr. Musukwa said it is for this reason that Government through the geological survey department has continued in carrying out geological mapping of the country in an effort to expand knowledge on mineral occurrence around the country.
He was speaking at the ongoing 5th annual International Mining and Resources Conference during the inaugural Africa Focus Day session on Promoting Opportunities for Sustainable mining practices within Africa.The IMARC which is one of the world’s largest resources conference, officially opened on Monday, 29th October to run till 1st November 2018, in Melbourne, Australia.
And Zambia’s High Commissioner to Australia Frank Bwalya, who is also attending the conference says the new wave of interest in the mining sector by Australian investors is in response to the vision of the Zambian Government to develop the country though Industrialisation.
Mr. Bwalya has observed that as the Industrialisation agenda gathers momentum, more interest in Zambia’s mining sector will be generated.
And speaking during a panel discussion on investment and development opportunities in Africa, ZCCM Investments Holdings Plc Chief Executive Officer Dr. Pius Kasolo said that Zambia remains a favourable investment destination in mining due to the enabling investment climate with a vast unexploited mineral resource.
Dr. Kasolo said that the industry is open to investors from various nationalities, and that this is representative of the existing players who are diverse and multinational in nature, contrary to the sentiments that the sector is largely occupied by Chinese investors.
This year, the conference has attracted over 6,000 attendees from over 90 nations, with over 200 expo stands showcasing the best of the minerals industry from machinery, technology, services, government pavilions, and mining companies, including ZCCM-IH.
The conference also coincides with the bi-annual meeting of the International Council on Mining and Metals, a CEO-led organization bringing together 27 of the world’s leading mining and metals companies.
Zambia is being represented by a delegation led by the Minister of Mines and Minerals Development Richard Musukwa, Frank Bwalya, Zambia’s High Commissioner to Australia and ZCCM-IH’s Board Director Mateyo Kaluba and the Chief Executive Officer, Dr Pius Kasolo.
This is according to a statement issued to the Media by Loisa Mbatha-Kakoma, Public Relations Manager ZCCM Investments Holdings Plc.
Always looking to foreigners to invest in our country. We never have the foresight or discipline mobilize, build and grow our local resources and entrepreneurs. We seem to think that foreign investors are charity organisations that want to help us develops. We fail to see that they are here for their own selfish interests.
You are right, but don’t forget it’s an easy way to get corrupted and that what counts in Zambia.
No Shame at all by this Richard a former Primary School Teacher and Trade Unionist …Oz a copper mining country showing interest in us who just like to consume
Invest in people. Does Japan have all this mineral wealth? Does Germany have gold, copper, cobalt, emeralds etc as much as Zambia? Yet these countries have invested in their own people and have performed miracles. Invest in your people and you will never go wrong. We have had over 100billion dollars poured into this mining sector since Independence yet potholes, no drainages, dirty towns, no proper system in place for managing our resources why do we like cheating ourselves? Education, agriculture and tourism are more sustainable areas we should always focus on.
Zambia needs responsible, rational and trustworth opposition leaders and parties like MMD’s Mutati or Heritage’s Gen. Miyanda not irresponsible, irrational, untrustworth and tribalism-prone groupings such as HAKAINDE’s UPND.
Let’s develop this thing! It is UNELECTABLE.
Go to sleep
Come 2050 Zambia will have no any valuable mineral resources remaining. Our government forgets that these minerals deplits which we are busy giving out freely to so called foreign investors.
PF remember intergeneration investiment not only feeding those big (vimimba) stimachs of yours!!!!!!!!!!!!!!!!!
At Geological Survey?. This is a Metallurgical Survey. The Director of the Geological Survey is a Metallurgist FYI. How can you advance geological research with wrong staffing.
Former winder engine driver at Konkola Mine, reading a speech written by Mining Engineers at ministry of Mines and forgets all he was reading after the speech, this is why we cannot make progress! The PF think Musukwa knows about mining?
Shameful levels of intelligentsia!
Which foreigner will want to make money for Zambia? We are selling our God given wealth, albeit cheaply!
Your own people you set ZRA on them and close their businesses down and some are busy taking their business outside the country for fear of being victimised, that’s the Zambia we have now under the chipante pante govt.
Let the Australians take over KCM. The Indians have failed ZAMBIA
The story does not report any specific Australian interested in Zambia, is this opinion based on the smiles the white people were making towards the big Zambian delegation? 🙂
If your were a former primary school teacher doesn’t mean you will remain at the same level for the rest of your life . I have seen former primary school PE teachers becoming university professors.
Would you be shocked if you see a former street vendor and now a surgeon called upon to come and operate on your your brain tumour .
I would say there are people out there who work hard , who have achieved great things to the surprise of those who laughed at them because they didn’t do well at some level.
There is no interest from Australian companies. This was just another meeting which officials went to attend for allowances.
Can we get a grassroot revolution started to insist the people have access to the wealth of the mines. There is a conversation we are not having…. the poor are NOT GETTING rewards from our mines. Let alone the vast majority of Zambians. Government is just NOT LISTENING. Nationalise or the share proceeds should be larger for zambia ie 80% to Zambia and the smaller share to investors.
This is a very thorny issue that needs to be on every citizens mind. its nice to have more investors but we are just not getting enough of our wealth invested into Zambia. 80% to investors is a lions share and must not be tolerated by citizens. Its sad how opposition are tied into this wholesale robbery of our mines wealth.
I remember that Kasolo chap, being more of a Socialist Radical when he was at UNZA, moaning about the government failures, now he is a blooming Capitalist. Is it too much to ask he tries to be a bit more his former self!
@10.1 Patriot Abroad,I think Kasolo still has Zambia’s interest at heart but his superiors are the one letting him down. Just follow how he claimed US$110 from KCM and how he took Mopani to task over US$1.2Bn he wished Mopani paid ZCCM-IH. All that disappeared bcoz Lungu interfered and put the matter into arbitration which later came out in Mopani’s favour. Under Kasolo ZCCM has invested in enterprises like Sinoma with the Chinese where they are making cement and other building materials!! I think if he is given a free will he can achieve a lot for Zambia!! Because of his interest to increase Zambia’s share in the mines, the Daily News started fighting him because he looked a viable option to this lost leader we currently have!!
It’s sad but true, we lost our chance after the debt wipe out and we started again with very little debt.
There was no planning on how to develop Zambia when we started getting those loans…..the kaponyas thought roads and building will bring development with not a ngwee being spent on developing and re skilling our people to carry forward the caverted development…