By Mercy Chewe
Socialist Party (SP) Copperbelt Provincial Vice Chairperson Reagan Kashinga has called for the prudent utilization of gold from Kasenseli, as Zambia struggles with economic hardships, including a weak Kwacha and high inflation.
President Hakainde Hichilema recently reopened the Kasenseli Gold Mine, which will be run by Kamunshishi Mineral Resources. Mr. Kashinga, a member of the Central Committee, stated that gold mining, if done properly, can help strengthen the Kwacha, reduce inflation, and lower the cost of living.
He warned that no foreigners should be involved in mining, processing, or selling gold from the Kasenseli Gold Mine, located in Mwinilunga District of the North Western Province.
“We are aware of the UPND Government’s insatiable appetite for foreign investment in all spheres of the economy. However, this approach is costing Zambia dearly. It is unwise for the state to give Kasenseli Gold Mine to foreign investors,” Mr. Kashinga said.
He emphasized that Zambians have the capacity to mine, process, and sell gold from Kasenseli. “Investors come here with the sole purpose of making profits and externalizing money to their home countries. Let us not entrust all our mines to foreign investors.”
Mr. Kashinga stressed the need to control the dollar rate and inflation rate by increasing production in the mining sector, with gold as a game-changer.
“The Socialist Party robustly believes that Kasenseli Gold Mine is key to reviving the failing local economy, burdened by high inflation and a weak Kwacha. This is because the Zambian economy is heavily reliant on imports. The weak Kwacha and high inflation are pushing the cost of commodities up.”
He emphasized that this would only be possible if Zambians owned Kasenseli Mine with a 100% stake. “It is folly for a highly indebted country like ours to allow foreigners to get our gold on a silver platter.”
Mr. Kashinga highlighted the need to increase mineral production in the mining sector to create more jobs and business opportunities for local people, suppliers, and contractors.
He reiterated the Socialist Party’s stance on entrusting national resources to local people. “Our Party President, Comrade Dr. Fred M’membe, has been consistent on this matter of ensuring that mines are nationalized.”
Mr. Kashinga concluded, “The Socialist Party is here to remind this Government to do the right thing on Kasenseli Mine. We know this is a Government of dishonest, un-futuristic, and uncaring individuals. The Socialist Party will nationalize these mines when it forms the Government in 2026.”
