GOVERNMENT has described the just ended Zambia Mining Investment Forum held in the UK which attracted over 100 mining firms, financiers and other stakeholders as a success.

Minister of Mines Christopher Yaluma said the country prepared adequately to host the forum by addressing a number of issues that had affected the mining sector.

“…unlike last year, where there were a lot of outstanding issues with the mines, which have since been resolved,” he said.

Mr Yaluma said Government has addressed the VAT refund issues with the mines and Zambia Revenue Authority has started disbursing payments to mining companies.

“Also, other inconsistencies in taxes and power deficit then were cited as issues, during the previous forum, but these and several matters have however been resolved and this is how Government wants things to be done,” he said.

He said Government will continue to dialogue with mining companies to ensure that policy decisions made do not negatively impact the industry, which is the mainstay of the country’s economy.

“We are enjoying a good relationship with the mines and we will continue to do so to ensure a win-win situation that will eventually benefit all,” he said.
Meanwhile, Mr Yaluma said there is need to diversify the mining sector away from the traditional copper.

He has explained that Zambia has several other minerals, which are least affected by global turbulence in prices which can help hedge the local mining sector against such unforeseen turbulences.

Mr Yaluma has noted that the gemstones sector is doing so well but needed to be developed further.

Source: Daily Mail