Africa-Press – Zambia. Minister of Mines and Mineral Development, Paul Kabuswe, says it is an indisputable fact that the mining sector has continued to make significant contributions to Zambia’s economic growth.
Mr. Kabuswe says the mining sector has significantly contributed to the country’s gross domestic product (GDP) as well as government revenue through taxes and loyalties.
Speaking when he officiated at the Chamber of Mines Mineral exploration Indaba in Lusaka yesterday, Mr. Kabuswe said that mining remains one of the key growth sectors of Zambia’s economy. He noted that government remains resolute to ensure an enabling investment environment that continues to attract investment in the mining sector.
“It is important to note that government is committed to see the country’s copper production increase steadily and that we take advantage of the current high prices on the world metal markets and derive maximum revenues,” he said.
The Minister of Mines added that it is envisaged that copper production will increase to over three million tonnes per year as pronounced by the Minister of Finance in the 2022 budget speech.
Mr. Kabuswe explained that government will work in close collaboration with key private sector institutions to re-orient the sector and create a competitive and thriving mining industry.
He said government will adopt measures such as the development of a stable and consistent fiscal regime and enhance exploration activities as well as promoting efficient utilisation of technology in the mining activities.
“As government, we remain supportive of the commitment of the Chamber of Mines in a quest to attain the set production target of three million tonnes of copper in the next 10 years,” Mr. Kabuswe said.
He has since thanked the Chamber of Mines for its efforts to organise the indaba which will help fulfil government’s agenda for the mining industry in Zambia.
And Chamber of Mines president, Godwin Beene, praised the new dawn administration for mapping up a transformative path for the Zambian economy to improve copper production.
Dr. Beene said in a speech read for him by Chamber of Mines Chief Executive Officer, Sokwani Chilembo that the Chamber envisages to record an increase in the production of copper and other minerals from the current 800,000 tons per annum to three million tonnes per annum.
“We are seeing such insatiable demand for the red metal to the extent that it is being called the new oil, so there is need to adopt a pragmatic mining centred strategy to economic growth,” he said.
He said mining has been the catalyst for many of the world’s great industrial revolutions, hence exploration must be harnessed to find new mineral deposits dotted across the country.
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