Japanese Government Pledges $1.5 Billion Investment to Boost Zambia’s Mining Sector
The Japanese government has pledged a substantial investment of $1.5 billion United States Dollars to boost Zambia’s mining industry.
This pledge was made during a bilateral meeting held in Tokyo, as confirmed by Faith Nabeene Chilube, First Secretary Press and Public Relations at the Embassy of the Republic of Zambia in Japan.
Japanese Minister of Economy, Trade and Industry (METI), Mr. Saito Ken, expressed Japan’s eagerness to invest in Zambia’s mining sector, emphasizing the potential for value addition and job creation.
METI Vice Minister, Mr. Taku Ishii, reiterated this commitment during the Japan Zambia Investment Seminar organized by the Japan Organisation for Metals and Energy Security (JOGMEC).
Mr. Ishii highlighted Japan’s interest in collaborating with Zambia in various areas, including mine development, supply chain creation, human resource development, and technical cooperation.
He also emphasized ongoing cooperation in exploration, with JOGMEC providing training and support to enhance Zambia’s exploration capabilities.
In response, Minister of Mines and Minerals Development, Mr. Paul Kabuswe, welcomed the proposed collaboration and investment with Japan.
He outlined areas of cooperation, including geological mapping, geochemical and geophysical mapping, and capacity building in geosciences.
Expressing gratitude for the longstanding relationship between the two countries, Mr. Kabuswe commended Japan’s commitment to enhancing investment in Zambia’s mining sector, especially as the two nations celebrate 60 years of bilateral relations this year.
Chairman and CEO of JOGMEC, Mr. Ichiro Takahara, reiterated the organization’s dedication to increasing investment in Zambia, particularly in the mining sector, further solidifying the partnership between Japan and Zambia in pursuit of mutual economic growth and development.
