The Zambia Chamber of Mines (ZCM) has welcomed the results of the latest Fraser Institute Report, the annual survey of global mining investors, which has revealed a significant improvement in investors’ sentiment. Zambia has leaped from 12th to 3rd place in investment attractiveness among Africa’s mining countries. The country had dropped off the rankings from 2019 to 2021, re-entering at 58th in the world in 2022 and rising to 34th in the latest 2023 report.
The 2023 report surveyed investors’ opinions of 86 mining jurisdictions around the world. The collated data was used to populate an Investment Attractiveness Index, as well as a Policy Perception Index. Although Zambia improved its ranking in both indices from previous years, it did less well in terms of policy perception, ranking 6th out of 12 for Africa’s mining jurisdictions.
The Zambian Government has remained steadfast in balancing growth policies with managing the impacts of geopolitical and climate-change-induced challenges that continue to exact a heavy toll on the economy.
Zambia Chamber of Mines President, Dr. Godwin Beene, is gratified with the steps that the country is taking to become more competitive in attracting mining investment. “Mining investors have been impressed by the Government’s consistent messaging around increasing mining investment, backed up by key reforms to the mining taxation regime.”
“Despite legacy challenges and unforeseeable headwinds, the strong overall indication from investors is that Zambia is becoming a much more attractive destination. The vital next step is to manage the reform of the overall mining regulatory framework in a way that accords with global best practice. If we can achieve a legislative and regulatory reform that creates far greater transparency in the regulation of minerals—a level and visible playing field for all—an effective and efficient regulator, well-drafted and precise laws, with clear protections for rights of tenure, then we will have laid the basis for serious mining-led development in Zambia,” Dr. Beene said.
The Chamber President has encouraged the Zambian Government to take full advantage of the positive sentiment published by the Fraser report.
Dr. Beene emphasized, “There has never been a better moment for the Government to fully reset the narrative than now. It is only growth that can sustainably avail the opportunities that Zambians seek, while delivering tangible development over the long haul.”
The Zambian Chamber of Mines welcomes the Fraser report which places Zambia 3rd among the most attractive African countries for mining investments. The country moved up the rankings after an exit in 2019. The report, however, notes a mixed perception of mining policies. The Zambian government is seeking to improve its attractiveness by reforming mining taxation and the regulatory framework. The president of the Chamber of Mines encourages the government to take advantage of this positive momentum to stimulate growth and development.
https://www.fraserinstitute.org/studies/annual-survey-of-mining-companies-2022
https://www.fraserinstitute.org/
YAWN!!!!!!! Why can’t we have our own Zambians to own these mines? You boast of ranking in investments by foreigners.. you give them TAX holidays.. you pipo / leaders are sick to the core. Why can’t you support locals to own these mines sure mwebantu hey!!!!. We have all the knowledge but no political will & wisdom
When these mines were put up as going concerns /for sale, why didn’t you “UFIMBENUMA,” your Mother, Father & relatves put up the money & buy the Mines? Talk is cheap & “wherever ignorance is bliss, it is folly to be wise,” hope you understand that saying!!
Proper uneducated, unenlightened P.F Cadre reasoning, wamvela?
Nikusoba nzelu. They don’t even have a pot to piss in nor a window to throw it out of but they talk of running mines!
Just a bit of history, a wholy Zambian company called Kafue Consortium comprising eminent citizens both black and white put in a bid but was rejected on the advice of we know who. Your government can’t allow a Zambian to buy an existing mine.
*wholy owned
Wake up, how do you put up the money when you own the minerals? Anyone who comes to invest they are puting up their part. This is the warped thinking that has given the foreign white owned companies power to exploit Africans at their own natural resources. Botswana is doing much better because they have this view- minerals are theirs. The so called business men in Govt are just vultures cutting deals for themselves not Zambians and bootlickers are busy boot licking.
”Eyi wena KeL3ni Azanda lelo!” You are the UPND Cadre, not every Zambian can afford to buy mines but the gov’t should encourage & allow the lending institutions to give meaningful loans to the locals so that they can buy & run the mining business.. Who told you that i do NOT own mines? You see your shallow mind, the fact that i am talking about the mines being given to Zambians should be something you should be proud of. I own 13 mines across Zambia for your own shallow UPND mind. I am not poor like you, i reside in USA and i can employ you & all your clan you freak. I am in mining industry & i see the challenges in the industry… by the way when pipo criticise UPND doe not mean they are PF.. you Low life Southerner
Those who have don’t talk. Why don’t you invest where you are right there? Kungo panga chongo, imwe bakalya unga.
Iwe Baza ulye , you are also a shallow typical southerner…. I am always between ZED & USA running businesses & doing business with some of UPND senior officials. You guys are cheap bro. I have a personal WhatsApp of most of UPND leaders including number 1. The fact that i encourage Zambians to own mines does not mean iam PF or a low life like you hungry UPND cadres. Was in ZED this past weekend & had many meetings with UPND leaders.. so get lost & keep on being hungry. I am not your level bro..
Just do your mining, no need to bring in tribal talk.
There is an eternal structural problem in all mining – the costs are all in the country in which mining takes place, while however hard local governments try, the profits end up overseas and out of the country. What does this mean for Zambia? It means that locally not enough equitable tax finds its way into the government coffers for public services. How to resolve this? All the friendly invitations for foreign companies to mine will not help Zambia at all unless there is a means to collect fair and equitable tax. To my mind this can only be achieved by a tonnage tax on every ton of metal, ore or concs to leave the country. Then it does not matter what price is obtained overseas, because Zambia has already collected its fair dues.
Zambians, we like things that sound progressive even if they don’t profit us. What does the improvement in mining investment mean to the ordinary Zambian who also owns the mines by virtue of being Zambian? NOTHING. So the improvement in the ranking is only for those who our blind leaders have given what rightfully belongs to the Zambians. They have cut deals and there is no money in the Zambian treasury to buy medicines for our hospitals. And you are busy wasting your energy to publicise the improved rating? God help us.
Miners get work? Suppliers get paid. Mines pay tax after the tax holidays…kikiki
In some countries people will not be cheated twice. In Zambia we are cheated year after year
Stop paying KCM managers dollar rated salaries when there’s no production at KCM.