Zambia is endowed with abundant mineral wealth. The mineral industry is the backbone of the economy of the country, and will continue to be so in the foreseeable future. The mineral export constitutes an important source of country’s foreign currency and gross income. Mineral exploration and production comprise a major part of their economic activities and employment. Further, the African Union’s vision seeks to have a mining sector that is transparent, equitable and with an optimal mineral resources' exploitation level that underpins broad-based sustainable growth and socio-economic development (African Union, 2009). Read On
Zambia is endowed with abundant mineral wealth. The mineral industry is the backbone of the economy of the country, and will continue to be so in the foreseeable future. The mineral export constitutes an important source of country’s foreign currency and gross income. Mineral exploration and production comprise a major part of their economic activities and employment. Further, the African Union’s vision seeks to have a mining sector that is transparent, equitable and with an optimal mineral resources' exploitation level that underpins broad-based sustainable growth and socio-economic development (African Union, 2009).
Currently, however, mining industries in Zambia face challenges with high exploration costs; insufficient numbers of well-trained manpower; inadequate infrastructure for research, development and innovation; and less efficient mining practices. These factors have resulted in less productive and competitive mining and processing operations. Even after more than a century of geological mapping, mineral exploration and mining activities, large tracts of the country is still unmapped, and geological research has not received the needed attention and priority. As a result, mineral resources of Zambia are either under-exploited, or their potential still remains unknown.
A sound investment environment and opportunity in Zambia can bring a greater socio-economic benefit to the broader community, as well as provide good investment returns to investors. What is needed at present is increased investment in research, development and innovation with adequate environmental considerations that are backed by pragmatic policies and legislations to ensure better management of the mining and water resources sectors. To achieve these results, it needs renewed attention on fundamental geoscientific research for advancement in knowledge and understanding of academic interests, which will be able to guide future exploration and exploitation of new mineral and groundwater resources, and address environmental and many other pressing issues in the exploitation of these resources.