Zambia names new mines minister
Zambian President Hakainde Hichilema has named lawmaker Paul Chanda Kabuswe as the country’s new minister of mines and minerals following the resigning of central bank governor Christopher Mvunga.
Kabuswe, Member of Parliament for Chililabombwe in Zambia’s northern copperbelt, is expected to be officially sworn in while Hichilema designated central bank deputy governor for operations Francis Chipimo to act as central bank governor.
Mining status in Zambia
Zambia possesses one of the world’s highest-grade deposits of copper and is ranked the seventh largest copper producer in the world. Copper contributes over 70 percent of the country’s foreign export earnings.
Zambia produces about 20 percent of the world’s emeralds. The mining sector is governed and regulated by the Mines and Minerals Development Act No. 11 of 2015, which covers types of mining rights, acquisition of mining rights, rights/obligations conferred on the mining right holder, transferability of mining rights, safety, health and environment requirements, and provides for the environmental protection fund, mineral royalties, fees and charges, and export of minerals.
The country is also well endowed with a plethora of mineral deposits beyond copper, which have primarily been mined by ASM miners. These principally include gemstones – emerald, aquamarine, tourmaline, and amethyst. On top of this, a rise in demand for manganese on world markets has spurred on the production of the mineral in the northern province of Luapula.
