LUSAKA - Mining expert Charles Mulila has urged the Zambian government to emulate the Democratic Republic of Congo (DRC) by restricting the export of copper and cobalt in raw form and promoting local processing and value addition.
The DRC has announced a ban on the export of copper and cobalt concentrates as part of efforts to encourage domestic processing and retain a greater share of the economic value generated from its mineral resources.
Speaking in an interview with Phoenix News, Mr. Mulila said Zambia should urgently prioritise local processing and value addition of critical minerals instead of continuing to export raw materials.
He said increasing local value addition could generate greater economic returns for Zambia, create employment opportunities and reduce the cost of importing finished products manufactured from the country’s minerals.
Mr. Mulila also said Zambia is well positioned to benefit from growing global demand for electric vehicles and battery technologies because of its abundant copper and other critical mineral resources.
He said the DRC’s decision should serve as a wake-up call for Zambia to reposition its mining sector, maximise the benefits of its mineral wealth and ensure that a greater share of the economic value generated from the country’s resources remains within Zambia.
Source: Phoenix News
By: Raphael Mulenga