New Reforms in Zambia's Mining Law to Boost Copper Output

SEATTLE (Scrap Monster): In support of the government's previously declared objective of increasing the nation's copper output by almost four times from the present levels of 800,000 metric tonnes to reach 3 million metric tonnes by 2031, the Zambian Parliament has enacted two mining reform measures. The president of the nation is anticipated to sign the two legislation into law shortly.

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The industry will be governed by the Mining Regulations Commission Bill, the first of the two bills. It also seeks to offer visibility for investment protection and compliance. Policy issues will also be covered by the Geological and Minerals Development Bill. According to Chaanza Chifwepa, Principal Exploration Geologist at the Ministry of Mines and Minerals Development, these bills taken together will replace the current Mines and Minerals Development Act of 2015.

A Special Purpose Vehicle (SPV) created by the Ministry will work with the newly created Investment Promotion Department to support public-private partnerships (PPPs) for mining projects. SPV will receive more than 40 permits for vital minerals. Attracting private investors is another goal of the government's massive expenditure in high-resolution geophysical surveys.