Im­por­tance of min­ing and crit­i­cal­ity of free cap­i­tal flows - Leina Gabaraane

Zambian Business Times - - FRONT PAGE -

“MIN­ING is such an im­por­tant sec­tor of our econ­omy, so vast such that it cov­ers not only ex­plo­ration and sup­port busi­nesses but ex­tends to re­ha­bil­i­ta­tion of the land where min­er­als are ex­tracted from. It has a huge so­cial im­pact on peo­ple res­i­dent in com­mu­ni­ties where ex­trac­tion is done. The op­por­tu­ni­ties it pro­vides are vast,” Stan­bic Bank Zam­bia Chief Ex­ec­u­tive Leina Gabaraane said in a side-line in­ter­view at the on­go­ing 2018 Min­ing Ind­aba in Cape Town. Most of the dis­cus­sions at this Ind­aba are very rel­e­vant to us as Zam­bia from a so­cio – eco­nomic per­spec­tive, he said.

The need for re­spon­si­ble in­vest­ments

Gabaraane em­pha­sized the need for re­spon­si­ble in­vest­ment in min­ing cit­ing ex­am­ples of the au­topsy of Kabwe’s Lead ex­trac­tion where the com­mu­nity is grap­pling with con­tam­i­na­tion and car­bon emis­sion ef­fects. He high­lighted a se­ries of ques­tions on how re­ha­bil­i­ta­tion must be done, how well-func­tion­ing re­la­tion­ships be­tween the mines and the com­mu­nity can be crafted and how down­stream par­tic­i­pa­tion of the com­mu­nity can be catered for. These, he at­tached im­mense im­por­tance to as food for thought.

ZCCM-IH CEO Dr. Pius Ka­solo (left), Zam­bia Rail­ways CEO Mr. Christo­pher Mu­sonda (im­me­di­ate left), Zam­bia High Com­mis­sioner to South Africa - Mr. Em­manuel Mwamba, (mid­dle), Deputy Sec­re­tary to the Cab­i­net - Hon Chris Mvunga (mid­dle), Stan­bic Bank Zam­bia...

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