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Zambia: MINING SECTOR TO CONTINUE ON A DECLINING TRAJECTORY IF GOVT DOES NOT INCREASE ITS SHAREHOLDING IN MINES

Social Anthropologist James Musonda has warned that the mining sector in Zambia will continue to decline unless government commits to public ownership or increase its shareholding in the mines.

The Board of Directors of ZCCM Investments Holdings PLC that has over K60 billion in group assets and generates group revenue of over K14 billion, last week announced the appointment of Dr. Joseph Vibetti as Chief Executive Officer of the company effective 1st February 2023.

Reacting to this development, Dr. Musonda says in its current state, ZCCM-IH- will not spearhead growth of the mining sector because the entity lacks clear direction.

He is of the view that the Zambian government must begin to enact pro-Zambian mining policies and not currently where the sector prioritizes foreign interests at the expense of Zambians.

Dr. Musonda argues that there is a lack of clear policies from government that is inhibiting ZCCM-IH to run efficiently and to serve the interests of Zambians even with fully qualified appointees to run the institution.

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