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Mining expert rejects calls to allow foreign investors in gold mining


CALLS by the Chamber of Mines for Government to attract foreign investors in the gold sub sector are misplaced, a mining expert Danny Mwila has said.

Mr Mwila said there was no need for foreign investors in the gold mining sub sector as the country had not benefitted from foreign investors.

He said Government was on the right track in amending the Mines and Minerals Development Act of 2015 to declare gold an essential commodity.

“Government is in the process of amending the Mines and Minerals Development Act to declare Gold as an essential commodity hence the incorporation of Zambia Gold Company Ltd whose shareholders is IDC and ZCCM-IH,” Mr Mwila said.

He said the mandate of Zambia Gold Company is to ensure that the government has a stake in all the gold mining to avoid the internal wrangles,  the Chamber of Mines have stated.

“The government is ahead of their call. There is no need for investors who just come and rape the mineral resources of the country,” Mr Mwila said.

The Chimber of Mines has called on Government to attract large companies or investors who can manage gold because there were many examples in Africa where mismanagement of natural resources have led to internal wrangles.

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