Mine ‘heavyweights’ date Zambia

://www.daily-mail.co.zm” class=”f”>Zambia Daily Mail by Online Editor on 6/16/13

By KALONDE NYATI
ZAMBIA, Africa’s number one copper producer, will this week host a major mining and energy conference which has attracted more than 300 delegates from more than 30 countries in the world.
Chief among the reasons Zambia has been identified as the preferred host is that the country has an economic and political environment which is favourable for investment, apart from being a resource-rich country.
This is according to the influential London-based international business event organisers AMETrade who spoke in an interview in Lusaka over the weekend, ahead of the event that has cast the international spotlight on Zambia yet again.
AMETrade managing director Mahad Ahmed said Zambia has recently continued to attract investors, with more targeting the country due to its prudent management of the economy and peaceful transition in presidential elections.
“The successful issuance of the US$750 Eurobond has also attracted investors who would like to invest in infrastructure development,” Mr Ahmed said.
This is the third time the international event—which attracts mining heavy weights such as Rio Tinto, First Quantum Minerals and Blackthorn, to mention but a few—organised by AMETrade is coming to Zambia, a clear sign that Zambia is a winner, according to the event organisers.
Other organisers are the Zambia International Mining and Energy Conference (ZIMEC) and the Association of Zambian Mineral Exploration Companies (AZMEC).
Mr Ahmed said the event’s main thrust is to create a platform for Government and business to engage in the development of the mining and energy industry.
Despite criticism from some civil society groups and opposition leadership, Zambia’s ratings abroad have continued to rise based on scientific ratings.
Zambia has been nominated as one of the top contenders for a coveted finance award for the best 2012 Eurobond by the Europe, Middle East and Africa (EMEA) finance magazine, an international magazine which specialises in monitoring emerging markets.
Recently,  Goldman Sachs, a full service global investment banking and securities firm, ranked Zambia as the most promising country in Africa out of a survey of 14 African countries whose economies must grow quickly.
Standard & Poor’s rating services also reaffirmed Zambia’s B+/B long and short-term foreign and local currency sovereign credit rating, in recognition of its prudent economic management.
The influential Global Peace Index which ranks countries around the world on a scientific scale has also ranked Zambia number four in Africa for being the most peaceful country with Botswana topping the list—while globally out of all the countries, Zambia sits comfortably at number 48.
Mr Ahmed said this ahead of the 3rd Zambia International Mining and Energy Conference (ZIMEC) slated for June 19 to 20 at Lusaka’s Government Complex, under the theme “developing Zambia’s mining and energy sector towards 2020.”
The event will be graced by Vice President Guy Scott.
He said the conference which has attracted 360 delegates from 30 countries and mining giants such as Australian-British-owned Rio Tinto, is expected to stimulate the economy, particularly in the hospitality industry.
“With over 300 delegates expected to attend the conference, it is anticipated that the hospitality industry will boom during this period. The delegates will require hotel accommodation, food and transport and this will boost the hospitality and transport industries,” he said.
Mr Ahmed said the event is an opportunity for local enterprises to develop business linkages with international investors for the growth of local businesses and the economy as a whole.
Zambia is expected to be in the group of the top five mining countries such as Australia, Canada, Brazil and Venezuela by 2015, as mining investment is forecasted to hit a US$5 billion mark as new mines are rolled out and old ones are boosted financially.
The government on the other hand has been targeting the mines for further revenue to plough back in poverty alleviation as President Sata feels wealth from mineral resources have continued to elude ordinary Zambians.