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Wednesday, 16 July 2008

Sharing the Proceeds of Mining

Interesting but cryptic comments from Deputy Mines Minister Maxwell Mwale. Apparently government will soon establish trust funds that will make mining companies contribute funds towards the sustainability of local communities. These trust funds would be controlled and managed by the communities themselves (presumably with significant control mechanisms?).

Nkana Member of Parliament Mwenya Musenge recently called for similar fund and we discussed that proposal under sharing the proceeds of mining. This is not the first government has come up with these ideas. A while back the idea of Local Development Fund modelled on the Environmental Protection Fund was suggested (whatever happended to the EPF by the way?). Whatever model is ultimately used, I am pretty sure this is more about shariing the existing cake, rather than generating new resources for communities outside the tax system. Would be interested to hear from others on how this has been done for other countries.

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