Maravi

Zambia must place mining at centre of infrastructure development – Coates

COMMENT - What did he just say? I don't know if anything of substance has been said in this article. What is 'a proper level of scrutiny'? 'Mining is not a short-term thing although mining itself does not last a long time' huh? 'mining should be made the main engine for developing the country’s infrastructure' - for whose benefit? The mining sector's? 'Mining is not just about adhering to local laws but also the social and economic circumstances' - is it also about paying taxes? Because that would be great.

Zambia must place mining at centre of infrastructure development – Coates
By Chiwoyu Sinyangwe
Mon 16 Aug. 2010, 04:01 CAT

A KEY Canadian investment scout has observed that mining should be at the core of infrastructure development to enable the country to survive post-mining era.

Ken Coates, who is leading a Canadian business delegation, was in the country under the auspices of the Zambia Development Agency (ZDA) to explore business opportunities in mining, education, tourism and medical services.

He said there was need for Zambia to place mining at the centre of infrastructure development.

Canada has one of the world’s fastest-growing mining firms like Equinox Minerals Limited, the biggest investor in the country’s mining sector after the establishment of the US $1 billion Lumwana Mining Company.

In an interview, Coates said mining should be made the main engine for developing the country’s infrastructure. Coates said the growing influence of Canadian mines had helped to prop up infrastructure development in Canada. He said although mining was a short-term venture, infrastructure development ensured its impact lasted longer.

“Mining is not something you just dig the ore, get something and run away,” Coates sad.

“So, Canadian companies are very anxious to ensure that they understand the local scene and operate within expectation. Rules are very easy to follow but expectations of what mining will do…will it be infrastructure development, for example, in Northern part of Canada, mines provide most of the roads, railways, airfields and telecommunication systems. Mining is not a short-term thing although mining itself does not last a long time.”

Coates also explained the growing influence of Canadian mining firms in the global mining industry.

“Mining in some countries is a very delicate issue,” said Coates.

“Mining is not just about adhering to local laws but also the social and economic circumstances. So, when companies from Canada show interest in investing in countries like Zambia, they go through a proper level of scrutiny.”

Labels: INFRASTRUCTURE, KEN COATES, MINING

posted by MrK @ 4:12 AM