'No resource nationalization,’ Zambia rules out resource nationalization’ as state policy

The Zambian government has made it clear that it would not support any resource nationalisation but stick to its private-centric mining policy as it envisages to ramp production to one million in the 2024 fiscal year.

Gerald Mwila, director geological survey in the Ministry of Mines and Mineral Development made the mining case for Zambia at the just ended 11th Zambia International Mining and Energy Conference and Exhibition on Thursday.

“The new Mine and Mineral Development policy is encouraging diversity that supports green transition by supporting other minerals other and Zambia will maintain a private sector delivery, no resource nationalism,” Mwila said.

He said with intensified mineral explorations for critical minerals Zambia was well positioned to play a critical role in the global energy revolution.

“The world is vulnerable on low supply of copper and as a country we have not discovered enough copper to satisfy global demand,” Mwila observed.

He further acknowledged that small scale miners were mainly illegal but that the government had realised their critical roles.

“We are formalizing the small scale segment to collect maximum benefits, the creation of cooperatives will help formalisation of this critical segment,” Mwila stated.

He also observed that value addition was critical and that this could help establish a strong industrial base that can create more jobs and trigger economic revival.

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