Zambia assures mining investors of support, stresses mutual benefit

Source: Xinhua| 2019-06-07 23:21:03|Editor: yan
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LUSAKA, June 7 (Xinhua) -- The Zambian government on Friday assured investors in the mining sector of continued support but warned that investments must be for mutual benefit.

Minister of Mines and Minerals Development Richard Musukwa said the mining sector will continue being private-sector driven, but it should improve the lives of citizens as well as profits for investors.

The Zambian minister made the remarks when he met with Nick Bowen, chief executive officer of Lubambe Mine, according to a statement from the ministry.

The Zambian government, he said, will continue to create an enabling environment aimed at generating mutual benefits for investors, but investors need to comply with the law.

It is the government's duty to make it easy and possible for investors to put money into the country, Musukwa said.

He said the case of Konkola Copper Mines (KCM), a unit of India's Vedanta Resources, is an isolated one that was largely triggered by the investor's failure to comply with the conditions set out in the license.

The mining firm, he said, was bleeding before a liquidator was appointed and that the government's decision was made in the best interest of the mine and the workers.

On his part, the mining chief executive officer expressed appreciation of the government's decision to have dialogue with mining firms on challenges facing the the sector.

Bowen said his mining firm will continue working with the government on key issues surrounding the mine in the best interest of local people.