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Zambia Government Assures Mining Investors Of Support

Mining News - Published on Tue, 11 Jun 2019

Image Source: The Citizen
Xinhua reported that the Zambian government assured investors in the mining sector of continued support but warned that investments must be for mutual benefit. Minister of Mines and Minerals Development Mr Richard Musukwa said the mining sector will continue being private-sector driven, but it should improve the lives of citizens as well as profits for investors. He made the remarks when he met with Nick Bowen, chief executive officer of Lubambe Mine, according to a statement from the ministry.

Mr Musukwa said that the Zambian government will continue to create an enabling environment aimed at generating mutual benefits for investors, but investors need to comply with the law. It is the government's duty to make it easy and possible for investors to put money into the country. He said the case of Konkola Copper Mines, a unit of India's Vedanta Resources, is an isolated one that was largely triggered by the investor's failure to comply with the conditions set out in the license.

He said that the mining firm was bleeding before a liquidator was appointed and that the government's decision was made in the best interest of the mine and the workers.

Source :

Posted By : Rabi Wangkhem on Tue, 11 Jun 2019
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