Headlines

IN PERSPECTIVE: Zambia To Amend Mining Rules To Treat Gold As A Strategic Asset

The Edgar Lungu led PF Government is moving to amend gold-mining rules so that the country can treat the metal as strategic. The cabinet agreed to amend the Mines Act to align it with a policy set last October to recognize gold as a strategic mineral.

That requires production by artisanal miners to be bought through the state-owned mining investment company ZCCM-IH Plc. The cabinet’s approval, on May 20, to modify laws and regulations stemmed from a proposal from the Mines Minister, according to the Press Release issued by the Ministry’s Permanent Secretary, Barnaby Mulenga.

Zambia wants its national gold production to help the central bank build up the nation’s strategic reserves. ZCCM-IH has been mandated to coordinate the purchasing and trading business in Zambia. It has since created a company, ZCCM Gold Company, that will oversee the mining, processing, refining and marketing of gold in Zambia.

The latest records obtained by Zambia Reports indicate that the country mined about 4,000 kilograms of gold in 2018 besides being Africa’s second-largest copper producer.

Copyright © 2020 ZR.

You can get in touch with our news team by emailing us at: editor@zambiareports.com

11 Comments

  1. Malizgani Nyirenda

    Not only GOLD but all MINERALS and the amendment should/must be all the mines to be owned by the government not companies

  2. Francis

    Malizgani Nyirenda, I totally agree with you. For how long should our country continue being ripped apart?

  3. Old Mzee

    Good move by the GVT and is long over due.

  4. adviser

    The 4,000 kgs is just one company reporting. The other mining houses have been quiet on Gold.

  5. Gibson

    In my on opinion I think our government here in Zambia should the majority of shares in all the mines we have in this country like the way it is in Angola in that way we will reduce the 💲💰💴💵💵💸dollar bwangu bwangu

  6. Arstones chala

    Please my beloved country can our government see to it that all the mines are wholly own by Zambians by our leaders putting in the mining policy that would ensure we own the big stakes in all mineral resources before we are left with death pits.
    The government should institute strategic systems that put demand on mining firms to give back to the community by asking them to build full furnished schools and hospitals as theur deliberate cooperate responsibility.Stop these mining consetions and all the tax holidays you gave to all the mines and review everything so that money from our minerals is not exeternalised.
    We have been cheated one too many time its about time our leaders rose to the occasion.We have been exploited for far too long.
    Some people lied to us that our mines have no mineral deposits and hence were sold at give away prizes and yet they knew fully well but had ill intentions so even when this Gold mining is about to start root out any possible means of corruption or it will go into someones selfish pocket.Pritect it with your lives for Zambia to be safe from unscrupulous individuals.All the best as we seek for the best solutions to our current economic malays we find ourselves in more so as the fight for coronavirus vaccine are being sort in the world.Stay safe

  7. Banja.

    By the way as far back as 2004 Kansanshi mine was extracting gold and keeping it in vats. This was done easily as where there is copper, gold is the derivative,. This is extracted by varying the pH of the extract ant. We even have uranium which the Americans monitor in fear of it landing in their enemies hands. There is so much mineral that are being stolen from this country right in front of our politicians. As we speak small planes fly from mining areas carrying minerals and in some cases game such as sable. Simply put this is a country that is raped day in day out. Our leaders too obsessed with by elections and fighting HH. Please for once put a Minerals policy that encompasses the needs of the country first. We are sick and tired of cheap fly by night so called investors who have ulterior motives.

  8. The kolintolism

    The second largest producer of copper on the continent after Congo dr and the second largest producer of emaralds after colombia .Zambia also boasts the largest emarald open pit mine in Africa and second in the world.regretably we are also the poorest in the world despite rich in natural resources.cry my beloved country

  9. stanely mwale

    great move indeed

  10. Jms

    Noise will be made until no more, so mean this isn’t in bill 10 or maybe a law never existed before, I agree by many the government must have a larger percentage. For me impeachment?

  11. Jms

    Noise will be made until no more, so it means this isn’t in bill 10 or maybe a law never existed before, I agree by many the government must have a larger percentage. For me impeachment?

Comments are closed.