LUSAKA – A tripartite Memorandum of Understanding (MoU) has been signed to oversee and formalise mining activities in the Kikonge area of North-Western Province. The agreement was executed by the Ministry of Mines and Minerals Development, ZCCM Investment Holdings PLC, and the mining firm Mining Mineral Resources-SAS. Mines and Minerals Development Minister Paul Kabuswe stated that the MoU is designed to ensure Zambia derives greater value from its natural resources.
He emphasized that increased revenue from the sector would strengthen the nation’s capacity to service and settle its national debt. Minister Kabuswe also issued directives to strengthen oversight. He urged the Bank of Zambia to provide clear records on the volume of gold currently being produced in the country.
Furthermore, he called on all partners to support artisanal miners in transitioning into sustainable small-scale operators. The Minister assured trained small-scale miners holding artisanal licences that they will soon be allocated formal mining tenements. Outlining the strategic vision for the site, ZCCM Investment Holdings PLC Board Chairperson Phesto Musonda announced plans to establish a modern gold mine in Kikonge.
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He stressed the necessity of a robust governance framework to deliver an effective national gold strategy. Musonda added that until Zambia establishes its own gold refinery, all gold produced through formal channels must be meticulously accounted for and reflected on the national balance sheet. Elisee Tshibangu, Deputy General Manager of Mining Mineral Resources, said the MoU demonstrates a firm commitment to unlocking Zambia’s gold potential.
He noted that the agreement marks the beginning of a structured journey from exploration to production. Tshibangu affirmed that the process would include support for artisanal and small-scale miners and pledged that his company would operate with transparency in full compliance with Zambian laws and international standards.
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