Opposition Leadership Movement Leader Dr. Richard Silumbe has called for the urgent establishment of a minerals reserve agency in Zambia to address the growing challenges faced by local industries and miners.
Neelkanth Cables, a leading local cable manufacturer, has lamented the scarcity of copper despite Zambia’s increased copper production, as the company, capable of producing up to 500 metric tons of cables per month, is currently limited to just 350 metric tons due to unreliable access to the raw material.
In an Interview with Phoenix News, Dr. Silumbe says the creation of a minerals reserve agency would be necessary in ensuring a more reliable and consistent supply of copper for local manufacturers, particularly those in value-added industries.
Dr. Silumbe stresses that a dedicated minerals reserve agency can stabilize the supply of copper by acting as a central body responsible for stockpiling and regulating the distribution of copper within Zambia and help in reducing dependence on imported raw materials.
He argues that this would not only support manufacturers but also create a more favorable environment for Small and Medium-Sized Enterprises-SMES-in the mining sector, particularly artisanal and small-scale miners.
Dr. Silumbe is also of the view that the agency will improve Zambia’s economic outlook by promoting the full utilization of the country’s mineral resources.
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