The Ministry of Mines and minerals Development has been advised by a Mining Expert to intensify geological explorations to establish other areas with minerals but have remained untapped.
Dr. Peter Chileshe notes that only about 60 percent of Zambia has been explored thereby restricting mining activities to the Copperbelt and North-western provinces respectively.
Dr. Chileshe tells Money FM that without latest information on geological explorations, the country will have difficulties to attract new investments in the mining industry.
In the 2020 national budget, Minister of Finance Dr. Bwalya Ng’andu has proposed to allocate additional resources for the generation of geological information of mineral deposits in order to attract investment.
Meanwhile the price of copper on the London Metal Exchange is fetching at US$ 5,745 per tonne which is an increase from US$5650 recorded last week.
In the first week of October this year, a tonne of copper was selling at US$5,719 a drop from US$5,750 during the last week of the month of September, 2019.