The future of Zambia’s mining industry is bright and the country could hit the one million tons per annum production target in the coming years, an industry body said on Thursday.
The Zambia Chamber of Mines, however, said this could only be possible if a conducive business environment and a favourable tax regime were in place.
Sokwani Chilembo, the chief executive officer, said the country has a good geological environment for enhanced mining operations, adding that this could be supplemented by creating a favourable fiscal regime.
He said projections that there would be increased demand for copper in the medium and long-term was another factor that paints the bright future of the industry.
According to him, the mining industry is cardinal for the country’s economic recovery hence the need to ensure a conducive environment for its operation.
Meanwhile, the official said the mining firms are still in talks with the country’s revenue agency, the Zambia Revenue Authority (ZRA), on how to dismantle the debt owed in Value Added Tax refunds.