By KETRA KALUNGA
FOREIGN investors should start from the scratch instead of eyeing already established mining companies, a mining expert has said.
Mr Edward Simukonda has advised the government to put in place policies that would compel foreign investors in the mining sector to start from scratch to create employment and develop the nation and not for them to come into the country to eye existing mines.
Mr. Simukonda said the government should ensure that foreign investors start from scratch and not invest in the already existing mines because this would not benefit the country in any way. He said in an interview that the government should instead mobilise resources and re-invest in the existing mines and not give them away to foreign investors whose aim has in most cases been to enrich themselves through externalization of profits.
“Existing mines should seriously be considered for re-investment from government and not for us to be expecting other companies from outside the country to invest in the existing mines. Money can be found,” he said And Mr. Simukonda who commended the Minister of Finance and National Planning, Dr Situmbeko Musokotwane for the well-presented budget, maintained that the government should run the mines to ensure the country benefits from copper production. “If we are going to do the mines on our own, particularly for KCM and Mopani, I see Zambia benefiting a lot from the boom that is expected in the copper production throughout the world,” he said.
