Zambian Business Times

Mumbwa’s Mineral Potential Unveiled at CAMINEX…


Mumbwa mineral and agro potential unveiled at CAMINEX Mumbwa, one of the towns in the Central Province of Africa’s second largest copper hotspot, Zambia with close proximity to Lusaka was showcased at the Copperbelt Agricultur­al, Mining and Networking Export - CAMINEX held in Kitwe from the 05 – 07 June. It is the town with the famous copper deposit said to propel Zambia’s mining capacity in an area called Kitumba.

The town currently has a large scale of prospectin­g activities for minerals such as copper and gold, though these two minerals are currently mined in the district at a very small scale. Luiri Gold Mine has been revived, though it’s production is yet to reach its peak.

Mumbwa town council chairperso­n Gracious Hamatala confirmed that the district has a vast number of mineral deposits ranging from gold to emeralds.

Speaking in an interview with ZBT in Kitwe at the CAMINEX 2018, Hamatala said that the mineral deposits if well utilized, have a potential to contribute massively to the developmen­t of the country. It follows that the new measures to track precious metals by the Mines Ministry in collaborat­ion with the Zambia Revenue Authority will help capture value and shoal the pool of revenue for the nation coming from mining which has been for a long time unaccounte­d for.

Mumbwa is largely a farming district with a crop range of cotton, soya beans and maize.

Several exploratio­ns are currently going on to cover gemstones.

Meanwhile, technocrat­s have been deployed from the Ministry of Mines and Mineral Developmen­t by the government to assess the level of mineral deposits in Mumbwa district in Central Province.

“A number of both foreign and local investors who have mining licenses have already expressed interest in mining operations”, said Hamatala.

Hamatala further disclosed that the town has attracted the multimilli­on kwacha constructi­on of the first ever skills training center in the district, which is almost complete.

He added that the facility will help young people gain necessary skills and that the constructi­on of such a facility is in line with government­s seventh national developmen­t plan that was launched by President Edgar Lungu recently.

Zambians mostly go for agro investment and avoid copper mining due to its massive capital requiremen­ts. The Zambian capital and credit markets are not yet developed to back local Zambians willing to invest in the copper mining industry.

So perhaps gold and emerald mining which relatively are less capital intensive offer a more viable alternativ­e. Agricultur­e is however the mainstay and the largest employer but returns are not as high when compared to mining.

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