Q FM Africa's Modern Radio
Mines and Minerals Development Minister Paul Kabuswe has described as a scandal the deal which Glencore signed with government for the sale of Mopani Copper Mines to government.
Responding to a follow up question on the ministerial statement on government’s position and strategy for the mining sector, by Kankoyo Member of Parliament Heartson Mabeta who wanted to find out whether the deal will be revisited, Mr Kabuswe says the deal is unacceptable to the UPND administration.
He says his ministry is working it out and is still renegotiating.
The Kankoyo MP in his question said he had established that one of the clauses in the deal for the sale of Mopani was that the dumpsites in Mufulira were used as collateral for the loan which Glencore left.
Mr Kabuswe says he has already engaged the Chief Executive Officer for Mopani Copper Mines on that score.
And Mr Kabuswe says government has been consulting key stakeholders to review the mining tax policy framework in order to design and develop a fiscal tax regime for the sector that will be stable,predictable and competitive to ensure sustained investment in the sector.
He says this will also attract both local and foreign investment in mining and ultimately scale up mineral production in the country.
Mr Kabuswe adds that the ministry is enhancing monitoring and oversight mechanisms and technologies to reliably ascertain the volume and content of mining output for taxation purposes.
The Minister has further stated that government is putting in place a policy and plan to facilitate local ownership and increased participation of Zambian players in the industry.
Mr Chanda says government has also started the a process of developing a national supplier development policy for the mining industry to increase the local supply of goods and services to the industry.
He explains that this will be achieved through the provision of technical assistance and mentorship, which includes among others, suppliers with detailed technical specifications in order to improve the productive and servicing capacities of the local suppliers.