U.S. Launches Program to Strengthen Regulatory and Fiscal Governance in Zambia’s Mining Sector
LUSAKA – The Embassy of the United States is partnering with the Government of the Republic of Zambia to strengthen regulatory oversight and improve fiscal governance in the country’s vital mining sector. The U.S. Department of State Bureau of Energy and Natural Resources, through an 18-month program under its Energy Governance and Capacity Initiative (EGCI), has joined with Deloitte to provide technical assistance to the Ministry of Mines and Mineral Development.
U.S. technical assistance will provide the Ministry of Mines and Mineral Development with a better understanding of the fiscal implications of mineral resource development, including a review of existing revenue frameworks, in order to strengthen Zambia’s international competitiveness and attract greater private sector investment. In addition, the EGCI program will provide an overview of international best practices in regulatory and policy development in the mining sector, including a review of the Mines and Minerals Development Act, in order to support a stable and effective regulatory regime for the mining sector.
Commenting on U.S. assistance to promote economic prosperity in Zambia, Chargé d’Affaires, a.i. David Young stated, “We’re very excited to partner with the Ministry of Mines and Mineral Development on this project. We believe that a stronger framework for regulatory oversight and fiscal governance will help Zambia to attract greater investment into the mining sector, which in turn will support job creation and drive economic growth.”