Business

Safe production, low profitability, ‘hurting’ mines

KALONDE NYATI, Lusaka
THE Zambia Chamber of Mines says safe production and low profitability have continued to hamper the growth of the country’s mining industry hence the need for the development of strategies that will address the challenges.
Chamber president Jackson Sikamo said safe production due to hazardous nature of the industry and profitability due to high cost of production need to be addressed to keep the industry, which is the country’s main revenue provider afloat.
“Improvements to safe production and industry profitability will ensure that the industry continues on a path of responsible and sustainable mining and this will guarantee a viable mining industry which will satisfy all the stakeholders including shareholders, employees, Government and communities in the areas where mining takes place,” he said in a statement in Lusaka yesterday.
Mr Sikamo said the chamber has since come up with mechanisms aimed at recognising members that are putting in place measures to counter operational challenges.
Among the mechanisms is the annual awards gala dinner, which is slated for June 26 and has attracted about 350 participants including mining executives, Government officials, suppliers and cooperating partners.
He said the annual event is also aimed at providing a platform for players in the industry to showcase their achievements and create business linkages.




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