ZCCM-IH Will Become More Active Investor In Mining Sector

The CEO of the Industrial Development Corporation (IDC) of Zambia, Mateyo Kaluba, has said that ZCCM Investment Holdings will in the future play a more active role as an investor in the mining sector rather than just being a holding company for the government’s minority shares. 

Mr Kaluba said that ZCCM should serve the aspirations of the Zambian people in terms of public ownership of mineral resources.

“What we have asked ZCCM-IH to do is to seek its own mines, do explorations and develop mining operations. We are not averse to them getting into partnerships but those partnership must be balanced. Most of the partnerships that ZCCM-IH has right now are not balanced because the stakes are very small minorities. But we are increasingly seeing ZCCM-IH taking a more assertive approach, doing more explorations and opening up new mines,” he said.

The IDC boss was speaking during a tour of Kabundi Resources Ltd mine, ZCCM’s manganese mining operation in Serenje district. 

“With ZCCM-IH taking important roles in the gold mining sector and in manganese mining, we are confident that we’ll see it taking stronger positions in copper mining and many other minerals in the country. What you will see is ZCCM taking an active role as an investor rather than a holding company for shares,” he added. 

Mr Kaluba also visited the Kampumbu Resettlement, where families have been relocated from the Kabundi mining site. The mine is constructing new homes for the workers’ families, as well as a small school block and a health centre.