The Centre for Trade Policy and Development says it will be important for the Ministry of Mines to ensure that a comprehensive audit of the mineral wealth is conducted.
CTPD Policy Lead on Extractive and Development Natalie Mwila said a comprehensive audit of the country’s mineral wealth will help Zambia get value for the minerals worth.
Mrs. Mwila said the CTPD is also of the view that Zambia can benefit more from its natural resources by ensuring transformative change of the mineral governance system.
“While we agree that value addition to the minerals will be a key step in ensuring that there is local community beneficiation, more especially that the value addition focus will be on industrial minerals, as they are consumed locally, benefits from the sector will largely depend on the governance of it, in relations to the policies,” Mrs. Mwila said.
“Additionally, while the government through the Zambia Revenue Authority has regulations in place now for transfer mispricing, for the country to ensure more benefits from its natural resources, it is important that these are properly implemented so that the country benefits from fair tax and avoid tax dodging by the mining investors,” she said.
“This can also be ensured by evaluating the two projects (MPSP & MVCMP) that were commissioned to how these have exposed Illicit Financial Flows for example. Further the Zambian government will need to fully integrate the mineral sector into national development plans if the country is to foster sustainable development and enhance the sector performance.”
Mrs. Mwila said Zambia has a national development plan (7NDP), but no mining sector development plan despite the sector having many issues and expectation.
She observed that a sector development strategy should be a high priority if the country is to benefit more from the mineral resources exploitation.
“It is also of great need that Zambia works with other countries mining similar minerals across the African region so as to make a suitable and uniform mechanism that favors all countries. In this cause, aligning the Zambian frameworks to initiatives such as the Publish What You Pay, African Peer Review Mechanism (APRM), Extractives Transparency Initiatives (EITI) will bare great benefits. Also, other initiatives like the Kimberly Process Certification scheme (KPCS), the African Mining Vision (AMV) and many others that aim at monitoring the behavior of companies and government in an effort to increase transparency and accountability will further strengthen the sense of accountability and work towards maximizing benefit from the mining sector.”
She said, “For local communities like Sinazongwe, Mufulira and Solwezi where mining has been taking place for some time, it will be critical for government to ensure that there are measures to guard against exploitation of workers and local communities who suffer adverse effects such as displacements. Effective consultation of all key stakeholders would ensure local interest is promoted.”
That is a good venture. Let’s also audit how much went into HH’s pocket from this.
Just ask the Chinese for the audit they have. They seem to know better where our assets are, and are exploiting our resources and taking the profits back to China.
Our government is happy to see this as long as they get their brown envelopes.
Enough is enough.
An exercise intended to pave way to further loot and ransack the country and the continent further! A venture in futile.
It’s such a shame that a country blessed with so much natural resources ranks among the poorest countries in the world too. Poor mediocre, incompetent, corrupt leadership is to blame for this. If you can’t find competent auditors within Zambia, why can’t you hire some from outside the country? You need to hold foreign companies operating in Zambia accountable, and make them pay their fair share of taxes. While other countries in the region are benefiting from their natural resources, Zambia is the only country giving it’s natural resources to foreigners for free. A few more years from now, the copper will run out, and we’ll be left with empty gaping holes across the country, with nothing to show for it. What a shame.
It’s unacceptable that the second largest producer of copper in Africa is so struggling economically. How do we fail to benefit as a country from such production?
U THINK AUDITING MINERAL WEALTH IS LIKE COUNTING YOUR NUMBER OF GIRL FRIENDS OR BOYFRIENDS U NEED TECHNOLGY AND U BLACKS DONT HAVE IT, WE CONTROL THE MINERALS JUST ASK FOR CHANGE FROM US THE CHINESE
Zambia is too reliant on minerals its actually a weakness we should be more diversified like Kenya and Zimbabwe.
Stop parroting nonsense; go and stand on Great North Road and count how many trucks will drive past you, in a minute, carrying copper. it might help you realise how foolish you are.
Stop parroting nonsense; go and stand on Great North Road and count how many trucks will drive past you, in a minute, carrying copper. it might help you realise how f.oolish you are.
Give Zambian women a voice! They will change our short term selling culture Yamasampo! There is a a generic gender role perspective carried by women which if supported by well meaning men; non gender based long term sustainable solutions emerge for the benefit of the people.
Let talent and skill rule Zambia and in less than two years, Zambia will be heading top of the world. How different would we be to the world richest Republic of Congo when we are within 30 Degrees Latitude of each other, yet we lack everything basic as a nation. Is it shocking we allowed a company registered with a hotel room as the office and location. Please also take audit of skills starting with Ron Mwamba, Mary Tshuma and please add to the list.