Mining investment policy on its way

ORGANISERS of the just-ended international seminar on mining investment in Southern Africa have expressed satisfaction with its outcome.

The seminar held in Windhoek last week was organised by the Ministry of Mines and Energy in conjunction with the International Lead and Zinc Study Group (ILZSG) and the Common Fund for Commodities (CFC). Nine SADC countries together with other international delegates attended the seminar to provide a vision for the region’s base-metal-mining countries to come up with a mining policy that could encourage foreign direct investment.Other matters which brought the delegates together were the continued rise in prices of general commodities, to assess the state of the mining sector and chart a new way forward.Based on the outcome of the conference, the organisers said a common approach for a proposed regional strategy within the SADC framework had been identified.The main issues for this strategy that needed urgent attention were human capital development, harmonisation of regulations and policies, foreign direct investment, value addition and an effective communications plan.On Friday, CFC Managing Director Ambassador Ali Mchumo said: “What has emerged today at the conclusion of the mining seminar is clear awareness based on the information resources that have been harnessed here, that there are tremendous opportunities for the industry and governments to intervene positively to widen the scope of the investment potential for the region.”Mines and Energy Permanent Secretary Joseph Iita told The Namibian that the event had proven that each SADC country had its own expectations and there was competition for each to attract foreign investment.He quickly added, however, that regional mining investment policy was an attainable goal, as long as issues highlighted at the seminar were ironed out.”Basically the conference was a great success.The process (to achieve a regional policy) is a long one but I feel from the presentations made by each country, all regional countries are ready and working towards attracting investment in the (base metals) mining industry.”Namibia mines zinc at Skorpion Zinc in the south and copper at Ongopolo in Tsumeb.Nine SADC countries together with other international delegates attended the seminar to provide a vision for the region’s base-metal-mining countries to come up with a mining policy that could encourage foreign direct investment.Other matters which brought the delegates together were the continued rise in prices of general commodities, to assess the state of the mining sector and chart a new way forward. Based on the outcome of the conference, the organisers said a common approach for a proposed regional strategy within the SADC framework had been identified.The main issues for this strategy that needed urgent attention were human capital development, harmonisation of regulations and policies, foreign direct investment, value addition and an effective communications plan.On Friday, CFC Managing Director Ambassador Ali Mchumo said: “What has emerged today at the conclusion of the mining seminar is clear awareness based on the information resources that have been harnessed here, that there are tremendous opportunities for the industry and governments to intervene positively to widen the scope of the investment potential for the region.”Mines and Energy Permanent Secretary Joseph Iita told The Namibian that the event had proven that each SADC country had its own expectations and there was competition for each to attract foreign investment.He quickly added, however, that regional mining investment policy was an attainable goal, as long as issues highlighted at the seminar were ironed out.”Basically the conference was a great success.The process (to achieve a regional policy) is a long one but I feel from the presentations made by each country, all regional countries are ready and working towards attracting investment in the (base metals) mining industry.”Namibia mines zinc at Skorpion Zinc in the south and copper at Ongopolo in Tsumeb.