Zambia’s mining sector remains the backbone of […]

Zambia’s mining sector remains the backbone of the country’s economy, driving exports and foreign exchange inflows. Yet, concerns persist among experts that most mining companies are foreign owned, limiting the value Zambia derives from its mineral wealth.

Mining expert Edward Simukonda believes that increasing local ownership in the sector is not only possible, but essential for Zambia’s long-term economic benefits. Speaking to the Zambian Business Times (ZBT), Simukonda emphasized that targeted investments in small-scale miners could significantly enhance local participation and national earnings from mineral exports.

 “Looking at the kind of money allocated through the Constituency Development Fund (CDF), if part of these resources were directed to small-scale miners to mechanize their operations, it would yield positive results,” Simukonda said.

 He noted that small-scale miners already contribute to production, pay taxes, and support the economy, but with greater financial backing, their impact could be much more substantial. Simukonda pointed out that although small-scale miners are making some gains, the lion’s share of mineral export value still goes to foreign-owned companies.

 “We are not even the ones producing these minerals that are being exported, because most of them are foreign owned and government shares are minimal. The value the country is getting is only favourable for now,” he remarked.

He added that empowering local miners with access to capital and technology would position Zambia to derive greater long-term benefits from its mining sector. “Supporting small-scale miners is a direct way to increase local participation in the industry and ensure more profits stay within the country,” Simukonda concluded.

Article by Justine Phiri