Copperbelt economy is ready for a rebound

MMD Die Hard youth Coordinator Bowman Lusambo
Bowman Lusambo

Copperbelt Minister Bowman Lusambo has assured the nation that the Copperbelt Province is now ready for an economic rebound following the steady rise in metal prices.

In an interview with Zambian Journalists on the sidelines of the ongoing 2017 Mining Indaba in Cape Town, South Africa, Mr Lusambo said the Copperbelt region is now poised for a change in its economic fortunes.

He has since commended some mining houses on the Copperbelt that have started re-hiring workers who were laid off when metal prices fell in 2015.

Mr Lusambo said the decision by the mining firms to start re-employing the miners is an indication that the Copperbelt is now on the path to recovery.

The Copperbelt Minister who is part of a high powered government delegation led by Mines Minister Christopher Yaluma said the Mining Indaba has provided a good platform to market the Zambian mining story to the investor community.

He said the presence of the Zambian delegation at the Indaba has reignited interest into the Zambian mining sector by a broad range of mining investors.

Mr Lusambo who echoed Mr Yaluma’s presentation during his key note address to the gathering said the Zambian investment climate is one of the best in the world.

“I wish to restate what Hon.Yaluma submitted during his presentation that Zambia remains one of the best investment destination in the World. The country is ideal for such long term investments such as mining because of its peace and stability and an entrenched Rule of Law. So our message here to the rest of the world is that as Zambia, we are open for business,” Mr Lusambo said.

He added, “the interest about Zambia that has been generated here after Hon. Yaluma’s excellent presentation has been very exciting and overwhelming. We are looking at attracting credible investors into our mining industry arising from this very important conference.”

He also announced that the PF administration of His Excellency President Edgar Chagwa Lungu is focused on diversifying the country’s mineral production from base metals to other high value minerals such as precious stones.

Mr Lusambo said the Copperbelt Province has massive deposits of precious stones such as gemstones, Emeralds and Green Tourmaline whose production need to be harnessed.

The Mining Indaba which is the largest gathering of financiers, investors, lawyers and mining professionals in African mining opened on Sunday and closes on Thursday this week.