President Hichilema Advocates for EU Investment in Zambia’s Mineral Value Addition
President Hakainde Hichilema has urged the European Union (EU) to explore investment opportunities in Zambia’s mining sector, emphasizing the potential for mutual benefit.
Speaking at the EU-Zambia Business Forum held in Kitwe last week, President Hichilema highlighted Zambia’s pivotal role in the future of electric vehicles due to its rich mineral resources.
He stressed the importance of value addition through beneficiation, capital provision and advanced technology.
“We aspire to embrace cutting-edge technology that will not only add value to our minerals but also propel Zambia into a leadership position in Africa,” stated President Hichilema.
He noted that despite significant mineral wealth, only less 50% of the country has been mapped using outdated technology, highlighting the need for modern mapping and exploration methods.
President Hichilema underscored the importance of EU-Zambia partnerships in bringing cutting-edge technology to the mining sector while aligning with Zambia’s economic transition.
“Our partnership with the EU should revolutionize traditional mining practices. We seek and are ready to have shared risks and rewards, moving away from the historical dominance of European-owned mines,” emphasized President Hichilema.
He called for collaboration and partnership between local stakeholders and the EU to drive sustainable growth and development in the mining sector.
The EU-Zambia Business Forum spanned three days and served as a platform for delegates and investors from EU member states to engage with Zambian counterparts on various existing opportunities.
The forum facilitated discussions on many investment opportunities across the mining value chain, fostering collaboration and innovation.
President Hichilema’s call for joint ventures reflects Zambia’s commitment to leveraging external partnerships to advance its mining sector and drive economic diversification.
With the EU’s support, Zambia aims to harness its mineral wealth responsibly while fostering inclusive growth and sustainable development.
