GOVT URGES EMERALD INVESTORS TO BUILD PROCESSING PLANTS

The government has urged the private sector to consider setting up an emerald processing plant in Zambia.
Ministry of Mines Permanent Secretary Paul Chanda says building a processing plan in Zambia would help cut down on movements and transportation costs associated with emeralds.
Addressing about 46 major emerald buyers from overseas mainly Indian and Thailand during Grizzly Mining’s emerald auction in Lusaka today, Mr. Chanda said the buyers should put up a plant in the country to test prospects.
He also expressed happiness that Grizzly mining has continued to host successful auctions in Lusaka bring together some of the major top buyers from across the world.
Mr Chanda noted that while the mining industry in last year and early this year has recorded accidents, Grizzly Mining has not reported any fatalities except for injuries.
And Grizzly Mine chief executive officer Abdoul Ba acknowledged government’s support rendered to the company which has helped it grow over the years from small scale to a large scale mine with 875 employees of which 70 percent are from the local community.
Mr Ba has however reiterated company’s concerns over the intended enactment of the new tax regime which he said will affect his company and the sector in general.
He said Grizzly is concerned because government has not given them assurance on when their concerns will be addressed despite drawing closer to implementation date of 1st April,2019.
Approximately 400 kilograms of emeralds are being auctioned over the next three days.

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News Source: ZNBC