Mining investment audit coming

Government will launch an investment monitoring policy to audit the levels of investments recorded in the mining sector on the Cooperbelt.

This follows reports of some named mines abandoning their projects to illegally mine from the dump sites left by Zambia consolidated Copper Mines -ZCCM.

Copperbelt Minister Bowman Lusambo says Government has observed that most mining companies have not made significant investments in their areas of operations.

Mr Lusambo says this is why some mining companies are clearing waste famously known as black mountain left by the defunct ZCCM instead of producing from their areas of investment.

He said the audit to be carried out jointly by the Ministry of Mines and Commerce will establish the levels of foreign direct investment into the sector on the Copperbelt.

Mr. Lusambo said this at a media briefing in Ndola.

Meanwhile, Mr Lusambo has urged mining companies to compel all foreign contractors to partner with Zambians in local business transactions.

Mr Lusambo said it is not right for mining companies to offer businesses to foreign contractors at the expense of local suppliers and contractors.


Source: ZNBC

2018-01-23T10:22:45+00:00January 16th, 2018|Industry|Comments Off on Mining investment audit coming