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SADC members urged to develop mining sector
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MEMBER countries of the Southern African Development Community (SADC) should work together in developing the mining sector in the region, said the Zambian Mines Minister, Dr Kalombo Mwansa. SADC member states should harmonise their policies in order to create an all round friendly investment climate in the region, he said in a recent interview.
They should come up with common approaches to issues like taxation and the environment, which are 'key' to the sustainable development of the mining sector.
Dr Mwansa also stressed the need for creating an investment climate conducive to exploration and mining activities in the SADC region.
Appropriately developed regulations and taxation policies were cardinal in reducing risks to the investor and enhancing the flow of investment funds to the region. He noted that the SADC mining sector was poised for massive growth in the wake of rising copper prices and the cessation of civil strife previously experienced in some countries in the region.
Earlier this month South Africa had its Mining Indaba which aimed at unlocking investment prospects in the mineral industry. The indaba emphasised promoting investment and stimulating economic growth in the country. One of the challenges facing the South African mining industry was to ensure sustainable growth in all parts of the mining sector from exploration to product sale.
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