Musamu Resources chief hails Gov’t for restoring investor confidence in mining sector

By BUUMBA CHIMBULU

MUSAMU Resources Limited founder and Executive Chairman Dr. Sixtus Mulenga has commended the government for restoring investor confidence in the country’s mining industry, saying the renewed trust has attracted billions of dollars in new investments from leading global mining firms.
Dr. Mulenga said the country had secured more than US$10 billion in new mining investments since 2021 under the leadership of President Hakainde Hichilema.
He was speaking during the just ended Zambia Mining and Investment Insaka in Lusaka.
“Investor confidence has been restored. Major global mining companies are recommitting to Zambia, bringing in new projects and expanding existing operations,” he said.
Dr. Mulenga attributed the resurgence in investment to policy stability, predictable regulations and government reforms that have transformed the mining industry into a key driver of economic growth and job creation.
He also praised the government’s initiatives to empower artisanal and small-scale miners through formalisation and capacity-building programmes, noting that such measures ensure local communities share in the benefits of the country’s mineral wealth.
“Supporting small-scale miners is critical for inclusive growth as it provides livelihoods and formalizes an important part of our mining economy,” he said.
Dr Mulenga added that the surge in investment underscores the country’s position as a safe and attractive destination for global investors.
“This wave of investment reflects not only the potential of Zambia’s mineral resources but also government’s commitment to fostering a business-friendly environment,” he said.
He expressed optimism that the new investments would boost copper output, create thousands of jobs and promote downstream processing, enhancing the country’s competitiveness in the global mining value chain.
“On behalf of the Chamber of Mines, Women in Mining, and the Federation of Small-Scale Mining Associations of Zambia, we commend government for unlocking Zambia’s mineral wealth for the benefit of its people,” Dr. Mulenga stated.
Adding to the optimism, Head of the European Cooperation in Zambia and COMESA, Mr. Claudio Bacigalupi, praised the country’s leadership and its partnership with the European Union (EU) in promoting sustainable and responsible mining.
Mr Bacigalupi reaffirmed the EU’s support under the Strategic Memorandum of Understanding signed in October 2023, which aims to strengthen cooperation in sustainable supply chains, value addition, and the development of critical minerals.
“Our partnership adopts a 360-degree approach that goes beyond extraction to include environmental protection, social inclusion, ESG standards, technology transfer, and local content development,” he said.
He also highlighted the importance of infrastructure development in the energy and transport sectors, citing interconnector projects with Tanzania and Kenya, as well as the Lobito Corridor, which links Zambia’s mining regions to international markets through Angola.
Mr. Bacigalupi announced that the first Zambia–Lobito Business Forum will be held in Lusaka from November 12 to 14, bringing together government officials, business leaders, and investors from 27 countries to explore new investment opportunities and partnerships that promote sustainable and inclusive growth.
Ends.