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Audit of investments welcomed

The Mine Suppliers and Contractors Association of Zambia says it supports intentions by Government to launch an investment monitoring policy to audit levels of investment and production of mineral resources.

Association President Augustine Mubanga says the move is progressive and will help boost the mining sectors contribution to the national treasury.

Mr. Mubanga told ZNBC News in Kitwe that the country will only derive maximum benefits from its mineral wealth if adequate measures are put in place to monitor the activities of investors.

He said local suppliers and contractors have been side-lined by some mine conglomerates in the awarding of contracts in preference to foreign entities.

During a media briefing, Copperbelt Province Minister Bowman Lusambo indicated that most mining companies have NOT been making significant investments in their areas of operations.

This follows reports that some named mining firms are abandoning their capital projects to illegally mine from the dump sites left by the defunct Zambia Consolidated Copper Mines-ZCCM.

Source: ZNBC

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