The advent of the electric car is causing positive impact in the base metal market manifesting in uptick in demand for copper, cobalt and nickel. The likes of BMW, Ford and Tesla will be looking to buy metals in the forward to stock up on inventory to meet future demand. Permanent Secretary in the Mines Ministry in Africa’s copper producer Paul Chanda said Zambia’s mining sector still presents immense investment opportunities despite the current global uncertainty and the macro-backdrop.
Speaking on the sidelines of the Mines and Money conference in New York, Chanda said the sector is poised for growth considering the expression of interest from various investors to invest in other minerals such as manganese, cobalt, and vanadium among others.
Mines and Money New York’s event.
“Zambia can leverage on and benefit from the growth and development being experienced in the electric car industry. We already have copper, and also battery metals such as manganese and cobalt, and investors have been coming to look for investment opportunities in such”, said Chanda.
Acting CEO of the state mining investment vehicle ZCCM-IH Mabvuto Chipata said the company was exhibiting and participating at the leading international event series for mining investment and capital raising in an effort to position the Company at the center of the mining deals marketplace in New York.
Speaking during a Company spotlight presentation to conference delegates at the event, Mr. Chipata called on potential investors to look to ZCCM-IH as a strategic partner for new mining investments in Zambia.
“Given the current enabling investment climate in the country, we strongly believe that any investor can only stand to leverage and benefit from partnering with ZCCM-IH due to its advantageous and strategic positioning in the mining sector”, Chipata said.
And Permanent Representative of the Republic of Zambia to the United Nations His Excellency, Ambassador Lazarous Kapembwa has called on Zambia to invest in outer space technology in order to enhance mineral exploration, particularly geological mapping of minerals through satellite technology.
The Mines and Money New York’s event is a premier mining investment forum now in its third year, and has brought together more than 300 decision makers, mining executives, investors, financial service providers and mining firms including ZCCM- IH from over 20 countries.
Source: The Business Telegraph