JAPAN PLEDGES 1.5 BILLION USD INVESTMENT IN ZAMBIA’S MINING SECTOR

By Prudence Chota

The Japanese government has pledged an investment of $1.5 billion to support investment by Japanese companies to boost Zambia’s mining sector.

Japan’s Minister of Economy, Trade and Industry, Saito Ken, says the Japanese business corporation is eager to invest in the country’s mining industry.

And ministry vice Minister, Taku Ishii, says his government will seek support from the Zambian government once the investment becomes materialized and is hoping to conclude the investment agreement as soon as possible.

Mr. Ishii says he has heard of Zambia’s President Hakainde Hichilema’s high hopes for Japan to use its capital and technology to create value addition and jobs for the young people and says his country aims to build a win-win relationship that will create jobs in Zambia, not only through mine development but also through the creation of supply chains for smelting and processing, human resource development, and technical cooperation.

Meanwhile, Minister of Mines and Minerals Development, Paul Kabuswe, says in order to enhance the beneficial cooperation in mineral exploration and mining, government is proposing collaboration and investment with Japan in areas such as geological mapping of the country.

Mr. Kabuswe says this is in order to increase the geological mapping coverage from the current 56.36% which ultimately is expected to increase investment in the exploration and mining sector.

The mines minister is in Tokyo, Japan, where he is attending the Zambia-Japan Investment Seminar in Tokyo organized by the Japan Organisation for Metals and Energy Security (JOGMEC).

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