Chamber of Mines hopeful about Zambia’s economic recovery

The Zambia Chamber of Mines says Zambia’s economic recovery lies in the resumption of global economic growth.

Nathan Chishimba

Chamber President Nathan Chishimba says he is hopeful about the global prospects for mining especially for the two important commodities for economic growth namely steel and copper.

Mr. Chishimba says the good news for Zambia is that the long term outlook is positive.

Mr. Chishimba has told a media gathering in Lusaka today that the bad news on the other hand is that the Country’s mining industry still remains uncompetitive.

He notes that Zambia’s global share for copper production has shrunk to 6 percent which he says is an indication that the country is not taking full advantage of its inherent advantage to produce copper.

Mr. Chishimba explains that this is mainly because the days for easy copper mining are over as the country is now contending with old mines, deeper ore bodies and lower copper grades.

He says production of copper has also been impacted negatively by among other things inconsistent policies for the mining industry and erratic power supply.

Mr. Chishimba notes the need to respond appropriately by coming up with long term consensus strategies for growing both the mining industry and the rest of the economy.

He says the Zambia Chamber of Mines wants to work with government in ensuring the survival of the mining industry.