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HH reaffirms Zambia’s position as key destination for mining investment

• Zambia is open for business.
• It remains a key player in the global Copper mining industry.
• Zambia is endowed with critical minerals that are an essential part of the green energy transition.

President Hakainde Hichilema has reaffirmed Zambia’s position as a key destination for mining investment.

Delivering a key note speech at the ongoing Mining Indaba in South Africa, President Hichilema said Zambia is open for business as it remains a key player in the global Copper mining industry and also home to vast reserves of copper and cobalt.

The Head of State emphasized that Zambia is endowed with the critical minerals that are an essential part of the green energy transition and the
country’s peace, stability and attractive investment environment is ideal for investment.

He further said government has halted the issuance of mining rights because of corruption which had hit the mining sector, stating that the move is beneficial to Zambia and any other investor.

“To ensure transparency in the administration and issuance of mining rights, we imposed a moratorium on issuance of mining rights to facilitate for a comprehensive audit of mining rights administration systems. We are now working towards operationalization of the online payment portal to promote efficiency and integrity in the administration system of mining rights,” President Hichilema said.

He called on potential investors to consider investing in exploration, mining, mineral processing and the production of value-added products for the green economy.

“We see a future where electric vehicle components which include batteries, copper pipes and cables are produced in Zambia and consumed by leading global EV producers. We assure investors of security of tenure and security of their investments, while at the same time ensuring a fair share for Zambians,” he stated.

And President Hichilema called for deliberate efforts among African leaders to ensure a sustainable environment and management of the vast mineral resources that the Continent is endowed with.

The Head of State said he was personally embarrassed that there is so much poverty in Africa yet the Continent has vast mineral resources that are key drivers for economic development of any country.

He noted that the Continent is endowed with vast mineral resources that largely remain undiscovered and unexploited.

“Aggressive investment into exploration will unlock the undiscovered mineral resources and create enormous socio-economic impact that will not only lift many of our people out of poverty but create new wealth and prosperity.”

“We have an opportunity to actualize “Agenda 2063: the Africa we want,” which is anchored on harnessing the continent’s endowments embodied in people and natural resources,” he added.

Meanwhile, the Head of State urged African Leaders to endeavour to foster peace and stability across the Continent, as conflict impedes investment and the desired prospect of social and economic growth.

“Civil strife, conflict and instability have characterized a number of mineral rich areas of our continent. I therefore wish to underscore Zambia’s support to all efforts aimed at resolving the ongoing conflicts on our Continent. We often stress the point that instability anywhere, is a threat to stability everywhere.”

Africa Mining Indaba is the world’s largest annual investment event for the mining sector and Africa’s largest gathering for mining operators, investors, governments and service companies.

The indaba, which will officially opened today 9th May, will run until 12th May 2022, and is being held under the theme, ‘Evolution of African Mining: Investing in the Energy Transition, ESG, and the Economies’.

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