By Abigail Chaponda in London, United Kingdom
Mines and Minerals Development Minister Richard Musukwa has assured the Mining Industry across the country that the Zambian government will continue to run and operate a fiscal regime that is consistent, simple and stable in which mining firms can operate easily.
The Minister was speaking in an interview in London where he had come to officiate at the Zambia Mining and Investment conference 2018.
Hon. Musukwa said that Zambia remains to continue as a beacon for favorable investment climate in the mining sector because of a robust, stable, predictable, flexible and reliable fiscal regime premised on the sliding scale.
And Mr. Musukwa said Zambia has the potential to mobilize its development resources from the mining industry with the current fiscal measures in place and all that Government needs is to close up on tax leakages, transfer pricing and to deal with housekeeping measures to strengthen its capacity to oversee the industry.
“As a country we want to generate maximum resources from our mining industry to bedrock our development. We know strongly that the Mining industry has huge resources which can help us anchor our development trajectory and this can only be done if we are able to collect maximum tax from the Mining houses while ensuring a win-win situations with investors,” he said
He said the mining industry in Africa and Zambia has evolved to having the world best practices saying what happens in Europe must work in Africa.
“For Zambia our benchmark is to ensure that we engage in world best practice in the mining code, mining regulations and mining processes because that is what is sustainable,” he said.
The Minister said the Zambian Government envisage critically the promotion of local beneficiation and value addition including job placement to Zambians.
“I want to state very seriously and I think this is what is impeding a lot of investment portfolios. The miss-match that exist between the multi-billion mining operation against the platform of local post communities which are living in abject poverty,” he said.
“We would like to see huge investments from mining houses in our communities in terms of roads, health, and education which will transform our communities. We also want to ensure that the workers who are the key engine in transforming these mining operations are looked after significantly in terms of conditions of service”.
While in London the minister held bilateral meeting with UK investors who have investment in Zambia and those who are looking to set-up their investment. The minister also met diplomatic staff at the Zambia High Commissioner.
Hon. Musukwa met Graig Sillars, a mining specialist for the UK department of International Trade, Don McDevitt the Chief Executive Officer for ZAMSORT limited, Tommy Horton, Vice president, Pembridge, Resources and company chairman, association of mining analysts.
Others include: the Head of Africa for Vitol, a company trading in oil and energy related services Pierre Barbe and Michael Balint, Robert Hickmott of Quinn Emanuel Urquhart & Sullivan, LLP, Dr. Neil Ambrose and he also had an interview with the Evening Standard.
