DISCUSSING BARRICK GOLD AND FQM INTEREST IN MOPANI AND KCM- WE NEED A WINNING FORMULA IN THE MINING SECTOR
By Alexander Nkosi
It is good to hear that Barrick Gold and First Quantum Minerals are interested in Mopani and Konkola Copper Mines. These big mines need huge capital investments and partnering with these mining giants is a good idea. However, while this is a step in the right direction, the mining sector is the major export revenue earner and should essentially fund growth of other sectors. Hence we need a clear roadmap:
- Increased local stake: We need to increase our stake in the two mines and in any new projects moving forward. The future should be that of having majority stake in such key national assets.
- We gave the mining companies an incentive by making mineral royalties tax deductible. What do we get in return? We should have a clear picture of anticipated annual increase in production, revenue and jobs to be created from each mining firm. This will help monitor progress against these targets and hold them accountable.
- We need strict measures to ensure mining firms are providing correct declarations of all minerals mined.
- We need to seal all revenue leakages in the sector. How much do we expect to get from this and by when?
- We need clear plans for gold and small scale mining in Zambia. We need a firm position on Kasenseli gold mine and how we hope to support various small scale mining activities across the country.
- We need to develop clear and implementable plans for value addition in the mining sector. We need to highlight the opportunities that exist, current challenges and how we hope to overcome these challenges and utilise the opportunities.
Thank you.