Zambia, DRC make progress on electric vehicle battery plants - Jito

ZAMBIA and the Democratic Republic of the Congo (DRC) have made progress in establishing electric vehicle battery plants.

Special Assistant to the President for Investment and Development Jito Kayumba says so far, a battery council has been set up and feasibility studies have been concluded awaiting a report.

Speaking in an interview on the sidelines of the 2024 Investing Mining indaba taking place in Cape town, Cape Town, Mr Kayumba said this is testament of government’s commitment to revitalize the country's mining sector for the benefit of Zambians.

“A lot of progress has been made to improve the mining industry, with regards to the electrical car battery manufacturing a committee from both Zambia and DRC has been put in place and battery council to oversee the progress which has been done so far,we are doing a lot in the sector so this just shows that we are not just concentrating on mining but also value addition,” he explained

And Mr Kayumba also assured investors in the mining sector that Zambia is a preferred investment destination due to a number of mechanisms that the government has put in place to improve the performance of the industry.

Mr Kayumba said the country so far has recorded increased investment deals that have resulted in increased mineral production.

Mr Kayumba explained that seven contacts are being implemented that have led to increased investment inflows and high copper production.

Mr Kayumba noted that the government is committed to improve the operations of the mining sector due to the role that it plays in the country's economic performance.

He cited Mopani Copper Mines (MCM), Konkola Copper Mines (KCM), Kansanshi, Lumwana, Lubambe and First Quantum Minerals as some of the companies that are undergoing rejuvenation and expansion in order to increase production that will eventually benefit the Zambian people.

“From the 2022 investing in African Mining indaba which the President attended,a lot of investment pledges and transactions were done out of which seven so far have been actualised leading to increased copper production and cash flows for mine suppliers and workers," he stated.

And Minister of Mines and Minerals Development, Paul Kabuswe, explained that the Zambia had recorded increased investments in the mining sector owing to the stability in the economy, policy consistency and the peace that the country enjoys.

Mr Kabuswe explained that no investors can be attracted to invest in a country that has policy inconsistency and confusion, adding that this is why Zambia stands out to be a preferred investment destination especially in the mining industry.

The Minister said the government was also putting in various mechanisms to attract more investment to the sector that will benefit both the investors and local people from the natural resources.

Mr Kabuswe said the government wants to run a private sector led economy but will ensure that the interest of the local people is protected hence encouraging Zambians to engage in artisan mining.

He pointed that to this effect, the government is revising the law on issuance of mining licenses to make them accommodative to people planning to engage in small scale mining.