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New wave of interest in the mining sector by Australian investors

Minister of Mines and Minerals Development Richard Musukwa says for Zambia to continue attracting foreign direct investment in sustainable mining projects, it is important to reduce the risk that comes with mining investment by making sure that the investors have access to adequate geological information.

Mr. Musukwa said it is for this reason that Government through the geological survey department has continued in carrying out geological mapping of the country in an effort to expand knowledge on mineral occurrence around the country.

He was speaking at the ongoing 5th annual International Mining and Resources Conference during the inaugural Africa Focus Day session on Promoting Opportunities for Sustainable mining practices within Africa.The IMARC which is one of the world’s largest resources conference, officially opened on Monday, 29th October to run till 1st November 2018, in Melbourne, Australia.

And Zambia’s High Commissioner to Australia Frank Bwalya, who is also attending the conference says the new wave of interest in the mining sector by Australian investors is in response to the vision of the Zambian Government to develop the country though Industrialisation.

Mr. Bwalya has observed that as the Industrialisation agenda gathers momentum, more interest in Zambia’s mining sector will be generated.

And speaking during a panel discussion on investment and development opportunities in Africa, ZCCM Investments Holdings Plc Chief Executive Officer Dr. Pius Kasolo said that Zambia remains a favourable investment destination in mining due to the enabling investment climate with a vast unexploited mineral resource.

Dr. Kasolo said that the industry is open to investors from various nationalities, and that this is representative of the existing players who are diverse and multinational in nature, contrary to the sentiments that the sector is largely occupied by Chinese investors.

This year, the conference has attracted over 6,000 attendees from over 90 nations, with over 200 expo stands showcasing the best of the minerals industry from machinery, technology, services, government pavilions, and mining companies, including ZCCM-IH.

The conference also coincides with the bi-annual meeting of the International Council on Mining and Metals, a CEO-led organization bringing together 27 of the world’s leading mining and metals companies.

Zambia is being represented by a delegation led by the Minister of Mines and Minerals Development Richard Musukwa, Frank Bwalya, Zambia’s High Commissioner to Australia and ZCCM-IH’s Board Director Mateyo Kaluba and the Chief Executive Officer, Dr Pius Kasolo.

This is according to a statement issued to the Media by Loisa Mbatha-Kakoma, Public Relations Manager ZCCM Investments Holdings Plc.

Source: Lusala Times

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