Government is set to improve regulation and monitoring of the mining sector to increase its contribution to the country’s Gross Domestic Product (GDP). The strategic focus of Government on mining during the 2014 to 2016 would be to improve regulation and monitoring of the mining sector to enable it increase its contribution to GDP.
To achieve this, the Government would concentrate on key issues which include, mine technical audits, monitoring of the gemstone sector, geological and structural mapping, mineral exploration and resources survey, increasing mines safety department capacity and promotion of value addition in the mining sector among many others.
Currently, Government had insufficient capacity for monitoring the mining industry in the country and as a result, it had no reliable production statistics database, making it difficult to verify production costs and sales data declared by the mines as a basis for royalty and tax computations. Hence, Government would begin conducting mine technical audits to ensure current taxes and mineral royalty were complied with.
Government will continue to attract Foreign Direct Investment (FDI) in the mining sector but not at the expense of exploiting Zambians.
Government recognises the importance of private investment in the development of the mining industry and would, therefore, endeavor to work closely with the industry in implementing the process. Government would like to see this partnership exhibited in Extractive Industries Transparency Initiative (EITI) in all areas for transparency and accountability.
