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Thursday, 16 May 2013

Minerals Development Commission

Government has created the Minerals Development Commission (MDC) that will independently verify production figures submitted by mining companies (and presumably chase up those who never submit). It will be led by mining expert Pius Maambo.

Mines and Energy Minister Yamfwa Mukanga says the MDC comprises of officials from Bank of Zambia, Ministry of Finance, Ministry of Mines, Chamber of Mines, UNZA and CBU.
"These are key stakeholders in the development of the country and we want to see how best we can reconcile figures by knowing how much copper is coming from the mines on daily, weekly and monthly basis..this way it will be easier for us to tell whether the levels of taxation are enough or not rather than just talking so we need to know actual production figures from the mines. At the moment, we rely on figures from the mines and ZRA has been looking at those but what we are trying to do is for the committee to come up with independent data for the sake of transparency and accountability."
This is desperately needed. It is an excellent development. I like the composition of the committee. Good see both academics and the industry on their as well. Sanity is being restored to this critical sector. In the long term the MDC could be transformed into a commission that does more than check figures. It could be an independent outfit for developing mining policies. Or alternatively an independent regulator of mining activities in general. 

Copyright © Zambian Economist 2013

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