By KALONDE NYATI
AN AUSTRALIAN mining giant, Fortescue Mining Group (FMG), is soon expected to start explorations for various minerals in the country, Government has disclosed.
Minister of Mines, Energy and Water Development Christopher Yaluma said FMG, which is part of the six Australian firms that expressed interest to invest in Zambia, is today expected in the country to finalise the process.
“FMG is willing to invest in the country. Its board has accepted that the company invests in Zambia and has gone through the Zambia Development Agency (ZDA) and the Ministry of Mines, Energy and Water Development,” he said.
Mr Yaluma said in an interview that Government will soon issue prospecting licences for the firm to begin explorations.
Last year, Mr Yaluma went to Australia to woo investors in the mining and energy industries and six mining firms have so far expressed interest to invest in Zambia.
He said the amount the firm will inject in Zambia will be determined by the mineral resource base.
Mr Yaluma also said a number of Canadian and British firms have also expressed interest to invest in the country due to the continued promotion of Zambia as a preferred investment destination.
“We have continued to promote Zambia and maintained a conducive environment that is attracting investors. We have seen investors from countries such as China, Canada and the United Kingdom coming to Zambia,” he said.
He said as part of Government’s commitment to attract more investment, it is in the process of modernising the licensing system to ensure transparency.
“There have been complaints by some stakeholders on the lack of transparency in the licensing system and we are committed to uphold transparency and this will be done through the modernising of the system,” he said.
220 total views, 187 views today