World’s leading copper exporter, Zambia, has received 4.7 million euros (Approximately 5,252,132.50 dollars) from the European Union to enable it to ensure maximum revenue collection from its mines by improving governance in the mining sector reports Lusaka Times.
The EU has provided the funds under a Mineral Production Monitoring Support Project that began in 2015 and is set to go to 2018 to monitor effectively mining activities and mineral production in Zambia.
The project being implemented by the government through a consortium led by Adam Smith International, Zambian and international experts in the Ministry of Mines and Mineral Developments is also engaging the private sector in finding solutions that can help the country deal with some of the problems in the mining sector.
“While Government cannot control the external shocks such as falling commodity prices that have impacted negatively on the country whose economy is copper-export led, continued collaboration amid economic turbulences will help minimise the effects of the shocks,” said President Lungu.
Zambia achieved great break throughs and development as the project launched an online platform for export permit module which went live on June 1st this year which allows the Ministry of Mines and Mineral Development to process and issue mineral export permits digitally. This has increased efficiency and accountability in issuance of Mineral Export Rights and payment.
“With a stronger monitoring system, Zambia will be able to realise revenue taxes in a proper and coordinated system and without declaring false production records by mining houses,” said the Director of Mines Mr Mooya Lumamba, speaking at the Zambia International Mining and Energy Conference (ZIMEC 2016) in Lusaka
Mr. Lumumba said the project will record data on mining activities and miniral productions since the country’s authorities currently rely on the private mining industry for the mineral production data and other related information. Further adding that, the Ministry will re-establish physical presence in the mines to improve monitoring and inspection programmes throughout the mining cycle.
