The inaugural 2024 Zambia Mining and Investment Insaka took place Monday evening, attracting over 2,500 delegates from across the globe. This event coincides with the celebration of a century of mining in Zambia, a cornerstone of the nation’s economy.
President Hakainde Hichilema emphasized the importance of collaboration, encouraging stakeholders to explore sustainable growth in the sector. He highlighted the potential beyond copper and called for partnerships to introduce advanced technologies, ensuring long-term progress for Zambia’s mining industry.
“We must work together to secure a shared future,” President Hichilema stated, underscoring the need for joint ventures to maximize the industry’s potential. The Insaka offers a critical platform for discussion and action, aimed at shaping the future of mining in Zambia for the benefit of all, especially its citizens.
President Hichilema assured the investors attending the insaka to consider investing in the mining sector in Zambia, reiterating the right policies and reforms that government has put in place to make sure that there is sustainable growth and development in the sector.
President Hichilema also expressed concern on the rising numbers of people dying due to illegal and unsafe mining.
He said government is putting in place a number of measures to ensure that small scale miners operate legally and in a safe way, adding that so far over 500 licences have been issued to Zambians to embark on mining operations.
Minister of Mines and Minerals Development Paul Kabuswe said currently there is an active 10 billion dollar investment in the mining sector in Zambia which has been attained in the last 3 years due to good policies and reforms that have revived the mining industry in the country.
He explained that the government’s aspiration of achieving 3 million tons of copper production calls for robust infrastructure development, hence the need to attract more investments to the sector.
He further pledged government’s continued support towards stable and predictable policies that will attract more investments to the mining sector, in order to contribute to the attainment of the 3 million tons of copper production by 2031.
And Konkola Copper Mines Chief Executive Officer, Chris Griffith pledged KCM’s continued support to the 3 million copper production, citing government’s commitment that has so far been shown in growing the mining sector.
Mr Griffith said KCM is targeting to grow its investment to 1 billion dollars in the next 5 years with copper production of 300,000 tons.
Chinese Mining Enterprise Association in Zambia Chairperson Zhanyani Li noted that the association has been operating in Zambia for the last 26 years and has so far invested about 3.5 billion dollars, which will be raised to 5 billion dollars in the next few years.
Mr Zhanyani noted that the association, which has about 20 companies operating in the mining sector in Zambia and has created more than 15,000 jobs, is committed to contribute to Zambia’s copper production with a target of 80, 000 metric tons in the next few years.
Lusaka Province Minister Sheal Mulyata expressed confidence that the insaka will present an opportunity for stakeholders in the mining sector to explore new and innovative ways that can be used in the industry for it to remain competitive.
We need to up our mining taxation game to ensure our people benefit from these God-given resources. With a water-tight mining taxation system, we can in the near future say bye to IMF/World Bank!
Kabwe mine or Broken Hill mine is a former lead smelting and mining site near Kabwe, Zambia, that operated from 1906 to 1994. So it is 120 years of mining in Zambia as a whole. However, for copper mining on the copperbelt its 100 years of mining which started at Nkana mine in 1924 with the sinking of Central shaft
Suffice to say this anniversary refers to european/western mining activities. Before then mining and smelting of iron and copper had been going on for for a long long time in the copperbelt region and present day katanga in DRC. Dr David Livingstone recorded in his journals of meeting a “train of carriers/porters” transporting 5 tons of copper metal headed for Arabia/middle east via the east cost of Africa. That was in the 1850s.