Republican President Rupiah Banda has praised the high performance of Zambia’s mining sector through privatization, a revised tax regime and a more effective way of collecting revenues from the mines to ensure that the Zambians benefit from the country’s natural resources.
President Banda’s praise for the mining sector follows the applaud for Zambia’s copper mining successes by World-renowned business news service Dow Jones in an article released yesterday.
Mr Banda said Zambians want reassurance that one of their richest natural resources yields benefits which could assist in developing other sectors and in providing vital social services.
in a statement released to QFM by his special assistant for press and public relations Dickson Jere,president Banda noted that the mining sector is enjoying a period of steady growth, and that it is right that the sector makes an appropriate contribution to revenues.
The Dow Jones article highlighted Zambia’s impressive copper output, which is expected to hit 740,000 metric tons up from 696,900 tons last year because of the increased production at several copper mines.
The report repeated comments made by Likolo Ndalamei, Zambia’s secretary to the Treasury at the Ministry of Finance, who revealed that copper output is expected to keep rising which is due to the resumption of operations at Luanshya Copper Mines as well as increasing production at copper mines on the Copperbelt and North Western province.
Zambia’s copper production in the first half of 2010 increased by 10.2% to reach 363,682 tons compared with 330,125 tons produced in the same period a year earlier.
The copper mining sector continues to recover and rising global copper prices have induced mines to ramp up production.
The future picture for Zambia’s mines also looks healthy, with the recent reopening of Luanshya Copper Mines following its takeover by Chinese-owned NFC Africa. The company announced in July that it intends to invest at least $500 million to develop Chambishi South copper mine on the Copperbelt province.
[ QFM ]
e you wont change your story when the Copper Prices tumble. Dont just talk put something in place.
This week has been full of good news for Zambia, full of promise for the future of our children for whom we live and work. That is the way we should read life. Keep it up government, we shall encourage and defend you all the way, for you need the encouragement to do more. And after you attain the 6.6% growth rate, we promise that 2011 is all yours to deliver much more….
That is the picture of a hard working, intelligent president. That is the picture that those who see State House slipping through their fingers loathe, more vicious shall they become with their vuvuzelas but to nought……
3 or 4 comments since morning… shows how “popular”.. LOLLLLLEST!
# 4Zigito- Cause it is only sugar coating.
Copper just goes in one direction since the history of Zambia. OUT OF THE COUNTRY. No money comes back. We will just remain with holes in the ground and poverty.
IN CHILILABOMBWE THE NEWMAYOR IS MMD COUNCILLOR VOTED FOR BY MAJORITY PF COUNCILLORS SHE DEFEATED A PF CANDIDATE. BINTU BIKINGYA NOW PF HAS TURNED AGAINST PF
#7
I was shocked considering the the council has 24 councillors of which PF has 14 and MMD 8 .PF what is happening? Expect more of this come 2011.
chali moneka handsome apa chi ruphia. awe iye i just got message from my buga woman ati she is pregnant awe nilumu bad mood bane. katwishi fye. i am not ready for this. satalibollo pliz mune advise me yaba. this comes two months after i was accused nafuti by 2 bugas .
VIVA RB VIVA! We will give u 2011 at all cost, u have particulary imprest me with rural infrastructure developmemnt, mobile hospitals to help my mother in Chama but a few to mention.
How much has the mining Industry contributed to the Countries coffers in 2009 and 2010. Only a fool will be hipping praises on the Mining Companies who externalise 100% revenue through dubious purchases, contracts and cheap outsourced labour. What a tired FOOL!!!! 2011 ZWAAA!!!
i grew up on the copperbelt and to be honest as much as the president is happy with the news i dont think pipo in luanshya,mufulira,chingola and other towns on c/belt will agree with RB.I mean seriously pipo are suffering in these towns,the roads in townships are pathetic,pipo have lost jobs,crime levels are sky high and so before rupiah celebrates to much let him consider who is benefitting more,is it the citizens of zambia or the western countries and ofcourse the politicians.Privatization on the c/belt has brought nothing but suffering on CB and has condemned many miners to early graves
let us look at the big picture coz this atticle appeared in a western magazine of which they are the same pipo who said we should sell our mines for peanuts,they are now making a fortune by under paying the owners of the resources and some selfish politicians are swimming in cash today at the expense of the poor dying pipo of the copperbelt.PIPO will never eat numbers and percentages so in my opinion RB has a lot of work to do if he hopes to convince pipo on CB, mind you pipo were way better off in ZCCM. Anyway how do you claim to be creating jobs by firing pipo then employing half of that number on megre salaries.Tomorrow he will say he has brought employment in ZAMTEL,just wait and see
Thanx RB for the good work done. Viva RB… Viva mmd.