Politics

Zambians Must Own Shares In The Gold Mines – NDC

The National Democratic Congress has wondered why if ZCCM-IH only wants 51% in the gold mines of Mwinilunga, it cannot float the remaining 49% shares on the Lusaka Stock Exchange so that Zambians can buy shares into the mines.

“If 10,000 Zambians buy shares of K50,000 each, the gold company will raise K500 million to commence mining operations and Zambian shareholders will receive dividends for their investments. Why is there always a rush to bring foreigners to own our minerals? Can’t we do some of these things ourselves?” read the statement in part.

It is of the view of the NDC that when the shares are floated on LUSE with an IPO (Initial Public Offering), the country should see thousands of ordinary Zambians flocking to buy shares which will raise millions of dollars in capital to finance the development of the mines.

“Even other Zambian companies like Trade Kings, Zambeef, etc. can buy significant shares into these mines to diversify their revenue portfolio if given the opportunity,” ended the communique.

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12 Comments

  1. Justin

    Why is there always a rush to bring foreigners to own our minerals? Can’t we do some of these things ourselves?”

    Yes when can do these ourself these ppl who rush to foregns abapubafye

    Reply
  2. Logo

    give lundas their own gold mine,we have the right to own propert.

    Reply
  3. Jms

    We need a government which will support locals to create development for the country.

    Reply
  4. Mwabamacco

    That’s a splendid way of thinking sir, zambians should be the first priority.

    Reply
  5. Mugala

    This issue of always looking up to foreign investors should come to an end
    The Zambia people must be engaged in buying of Shares
    Especially with resources that are of our own…

    Reply
  6. Malizgani Nyirenda

    That is true fellow ZAMBIANS, government please let foreigners be very few having shares and OURSELVES to be more benefiting the shares, or if possible remove all foreigners we are going to manage ourselves

    Reply
  7. Tico

    I tend to wonder why we rush to foreign investors. Those minerals are ours, God blessed us the people of Zambia with them.

    Reply
  8. Youth movement

    Excellent suggestion by NDC,why can’t we do it by ourselves?why do we always limit ourselves in thinking?could it be that there’s a hidden agenda in trying to give our gold to foreigners?Zambia why?this is our God given gift which we should enjoy but I don’t know why it should be taken away from us and am sure it’s not that expensive to mine now why?lets be patriotic and support each other we are not just Zambians by name but even what Zambia has should be ours too.

    Reply
  9. Martin

    Is the same mine in operation.? When did started operating.? So we have gold in Zambia❓🇿🇲🇿🇲🇿🇲

    L

    Reply
  10. Christopher kasaka

    Then give 20% to the locals without them this issues of gold would not be the. It’s not fair to these people. The founders of gold

    Reply
  11. Musyani

    I think whatever the government is doing here if true they have lost the plot,those shares must be sold on the stock exchange to ordinary zambian and not government officials as it would institute a conflict of interest,the other day I posted something on a different topic that the crop of politicians we are having now can not be trusted with running the country,stop hero worshiping these people let’s stand up and stop the rot especially in this case,if you check these foreign investors properly you will find alot of gaps as to how they where selected, was not an open tender, what criteria was used,do they have connections to some top officials etc let’s rise up demonstrate to that state house so that they can feel our anger,you can fool some people but you can’t fool them all the time as Bob Marley sung.

    Reply
  12. Mr intellect

    Kasenseli Gold is on knee depth, the reason why the locals there mine it with ease.Whats the purpose of foreign policy investment? Let shares be floated to indigenous zambians and see if you gonna managed to stop development untold since you are looking for brilliant minds to help you bring this country on the right track

    Reply

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