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LUSAKA - The Government of Zambia has officially appointed ZCCM Investments Holdings Plc (LSE:ZCCM) to lead the transformation of the country’s gold mining sector, according to a press release issued by the company.
The mandate, formalized on August 1, tasks ZCCM-IH with formalizing and developing Zambia’s largely informal gold industry, which has historically been characterized by limited structure and minimal economic benefits for the nation.
As part of the initiative, mineral tenements will be transferred to ZCCM-IH to serve as foundational assets for the program. The company will focus on integrating artisanal and small-scale gold miners into the formal economy while promoting environmentally responsible mining practices.
"ZCCM-IH will lead the implementation of a comprehensive transformation programme grounded in collaboration, sustainability, and inclusive stakeholder engagement," the company stated in its announcement.
The program aims to enhance local value addition and strengthen partnerships with local communities, traditional leadership, civil society, and the private sector.
ZCCM-IH is majority-owned by the Zambian government, with the Ministry of Finance holding 17.25% and the Industrial Development Corporation of Zambia controlling 60.28% of shares. The remaining 22.47% is held by various institutional and private investors.
The company has a primary listing on the Lusaka Securities Exchange and secondary listings on the Paris Euronext (EPA:ENX) Access and the London Stock Exchange (LON:LSEG).
Zambia’s gold sector has remained largely underdeveloped despite the country’s rich mineral resources. The government’s decision to formalize the sector through ZCCM-IH represents an effort to capture more economic value from these resources while addressing environmental concerns associated with informal mining operations.
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