Beyond mining stakes, tax income, govt keen on building strong local content policy

President Hakainde Hichilema’s special advisor on investment and economic affairs, Jito Kayumba, says the government is working on measures to create a strong local mining content policy to enable the country to benefit beyond taxation.

Since the coming in of the United Party for National Development (UPND) in power about two years, some stakeholders have been accusing the ruling party of bending the law to benefit foreign interests in the mining sector.

But Kayumba told journalists in an interview in Chililabombwe on Thursday that the government wants Zambians to benefit beyond taxes and owning significant stakes in the mines.

“The Mining and Mineral Act review will enhance local mining benefits, you have seen that since coming to power, the government has been pushing for local content beyond mining supply where locals hold stakes in the mines while promoting mineral trading,” he said.

Kayumba said the issue around local content was very important adding the government is pushing for policies that enhance local capacity and ensuring shareholding for locals in the mining sector.

He said the government is not ending at that but ensuring the provision of capital to small scale and artisanal miners.

Kayumba added that the government would ensure that the issuance of mining licenses was free of corruption.

“We are also creating a platform for value addition to get more benefits from our minerals. The electric battery mineral value chain being developed in Ndola shows that the government is serious about creating a feasible value chain industry in Zambia to create long lasting local beneficiation,” he said.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.