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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