The UPND Recognised For Contributions To Mining Sector

The UPND has been praised by Professor Oliver Saasa, Chancellor of Mulungushi University, for the steps taken to repair the mining sector in Zambia.

The announcement came as Prof. Saasa presented his firm’s, Premier Consult, evaluation report for the First Quantum Minerals (FQM) investment in Zambia. 

The report, Evaluation of Economic Impact of Planned First Quantum Minerals  Investment in Zambia, outlined that the government has been actively correcting errors and impediments to investing in the mining sector.

It outlined that the policies that have been implemented by the government will aid the mining sector in Zambia to increase production and spur economic growth.

In particular, he outlined that the government had listened to the needs of investors by implementing a deductible mineral royalty tax.

He stated, that the new deductible tax is “what mining companies have been crying out about all these years.”

Furthermore, the Manager General for FQM outlined that had it not been for such amicable business reforms in Zambia the investment would have been delayed.

Godfrey Beene, the president of the Chamber of Mines, said that he was elated by the company’s decision to invest $1.35 billion into Zambia’s mining sector.

The report outlined that the investment will have substantial multiplier effects on the economy of the country, creating jobs with the report estimating that $98 million of the investment would go directly into workers’ wages.

Photo: Tenson Mkhala