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Zambia leveraging vast mineral wealth – Kabuswe

Minister of Mines and Minerals Development, Paul Kabuswe says Zambia is leveraging its vast mineral wealth to spur economic transformation.

Addressing a Ministerial symposium preceding the opening of the Annual Mining Indaba in Cape Town, South Africa, Mr. Kabuswe said  Zambia had initiated an electric vehicle (EV) battery manufacturing programme in partnership with neighboring Democratic Republic of Congo, among other strategies.

The Minister said Government was promoting the EV programme within the framework of private and public investment sectors in Zambia.

He said Africa should stop wasting time on negotiations but to instead focus on exploring its mineral wealth.

“We need to stop wasting time on the negotiating table. Africa has a lot of minerals that need to be mined. The continent risks losing out if we delay in mining the minerals,” Mr Kabuswe said.

He also called for mutual respect by both investors with the money and countries with minerals.

He noted that in the short time it has been in office, the new dawn administration had already made strides to work with its neighbors to accrue maximum benefits from minerals.

The Minister is also expected to hold bilateral meetings on the sidelines of the indaba.

Mr Kabuswe is leading a delegation comprises officials from State House,  Ministry of Mine and Mineral Development, Ministry of Commerce, Trade and industry, the Zambia Development Agency (ZDA), ZANACO, ZCCM -IH and the Zambian High Commission in South Africa.

Minister of Finance and National Planning, Situmbeko Musokotwane is also expected to join the delegation.

The Mining Indaba has attracted over 7,000 delegates, 500 investors, 530 mining companies and 48 ministers from different countries.

The Indaba provides a vital platform to create space for networking and creating investment opportunities.


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