By KETRA KALUNGA
MINES are in distress and the only way out is to seek private investors because there is no way they can run without investment, the Zambia Chamber of Mines (ZCM) has said.
ZCM President Godwin Beene explained that mining operations require massive investment which the government could only get through an investor.
Dr. Beene said in an interview that investment for mine operations lay primarily in the hands of private investors.
“What we must all appreciate is that investment for mine operations lies in private hands, that’s the message we must understand. We can’t say anything more than that at all,” he said.
Dr Beene said it’s very important that the country considers bringing back inventors into the mining industry because that’s what is required for the struggling sector to be revamped.
“We are looking forward to investors going into the mines. What kind of investor they look like, we don’t care, but it’s very important that we get investors into the mining industry across the country. We need investors back in the country,” he said.
Earlier, Dr Beene said Zambia was losing up to US$2.5 billion because the country’s current tax regime is not attracting investment.
He said the current tax regime was not attracting investments.
Dr Beene said that he was hoping that the new dawn government would put in place measures that would help the country recoup some funds from the mines.