Lusaka – Zambia has the capacity to lead Africa in copper output and meet global demands, but needs reliable and predictable policies to lure investment and actualise the sector’s potential, the country’s Finance Minister Situmbeko Musokotwane has said.
Zambia is Africa’s second biggest copper producer after fellow SADC member state the DRC. Zambia’s output is about 800,000 tonnes per annum compared thte DRC’s 1.3 million tonnes. President Hakainde Hichilema wants to increase Zambia’s production to 2.5 million tonnes.
Finance Minister Musokotwane said the government was focusing on policy reforms to boost mining and develop value chains.
“Reviewing tax laws and encouraging dialogue among players will be an impetus to economic growth as it will have a multiplier effect in other sectors of the economy and in turn will create jobs especially for the youth,” he said.
The Chamber of Mines hopes President Hichilema will institute tax policy consistency and encourage actualisation of greenfield projects in copper, gold, manganese, silver and other minerals.
President of the lobby group Dr Godwin Beene said, “The Zambia Chamber of Mines and its sister organization the Association of Zambia Mineral and Exploration Companies make themselves available to assist the new administration in working out policies that will provide an optimal environment to see the attainment of this objective.”