Africa-Press – Zambia. The Zambia Chamber of Mines says a supportive environment, stable policies and exploration are key in the long-term future of the mining industry in Zambia.
“There is great potential for the mining sector to play a large role in the global energy transition from fossilized energy sources to metals like copper. Copper prices will remain competitive in the foreseeable future so we need to take advantage and grow the industry in a sustainable manner,” said Godwin Beene, the Chamber Presenter said in a release.
Dr Beene said while some immediate changes are needed to signal that Zambia was open for investment, other areas of mining fiscal regime will still require further analysis and discussions to determine the best way forward.
While saying that the government’s aspiration for the mining industry to reach 3 million metric tons in annual production was “music to the ears of the industry,” Dr Beene urged the government to continue with the stability assurance thrust.
Making a brief presentation to the Minister of Finance at a consultative meeting held at the Ministry of Finance and National Planning Headquarters in Lusaka and after presenting a concept paper entitled A FRESH START: RECOVERY THROUGH GROWTH, Dr Beene said the Government’s aspiration for the mining industry to reach 3 million metric tons annual production within the next ten years was “music to the ears of the industry” as it depicts the long-term placement of the industry as a key player in the economy.
“There is great potential for the mining sector to play a larger role in the global energy transition from fossil energy sources to metals like copper,” said Dr Beene, adding that, “a supportive environment, stable policies, and exploration, are key in the long-term future of the mining industry in Zambia.
“Copper prices will remain competitive in the foreseeable future so we need to take advantage and grow the industry in a sustainable manner,” he told the Minister.
Dr Beene appealed that while some immediate changes are needed to signal that Zambia is open for investment, other areas of the mining fiscal regime will still require further analysis and discussion to determine the ‘best go-forward position.’ He concluded his remarks by urging the Government to continue with the stability assurance thrust.
Dr Beene said a predictable business environment will enable the mining industry to ‘plant the seed of investment for copper (and other minerals) to germinate (be mined from the ground); get value-added by secondary industries; and, maintain a steady flow of foreign exchange earnings.
And Dr Musokotwane reiterated the Government’s plan to push the economic recovery, stabilisation, diversification, and national prosperity agenda through a collaborative approach with all players in the economy.
Dr. Musokotwane reiterated the government’s plan to push for the economic recovery, stabilization, diversification and national prosperity agenda through a collaborative approach with all players.
