The Emerald and Semi-Precious stones Mining Association of Zambia (ESMAZ) has backed Minister of Mines and Mineral Developments on the directive to repossess mining licences from investors holding them for speculative reasons.
Association President Victor Kalesha tells Money FM News that Zambia cannot have investors coming into the country and obtain mining rights and yet they are not developing the areas they obtain licences.
Mr. Kalesha says an investor is supposed to bring investment to develop and not to keep areas idle.
“The Zambians who own mining rights were given as empowerment and they do not develop due to lack of resources,” he said.
“It is also in this vein that we would like to appeal to the Minister of Mines to suspend issuance of new mining rights to investors but instead link them up with the empowered Zambians owning mining rights to go into joint ventures.”
Mr. Kalesha has emphasized that the Minister is very right to give that directive.
He adds that Zambia has a number of foreign investors in the gemstone sector holding on to licences without developing their sites
“What’s the purpose of coming in as an investor if you can’t develop? We would also like to invite local and foreign investors not to shy away from this gemstone sector because it is positive revenue generating venture that contribute effectively to the economy of this country,” said Mr. Kalesha.
“As an association we a keen to see the gemstone sector awakened and contribute to the economy of the country because it has a lot of potential.”
The ESMAZ President is optimistic that after the engagement with the Head of State, the sector will see some attraction of investors in gemstone especially after the promised visit by the head of state to the emerald area takes off.
He says the association will stand to support government on any progressive decision made.

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