‘Gemstone sector lack investment capital’

By ALEX NJOVU

 

EMERALD and Semi Precious Stones Mining Association of Zambia (ESMAZ) general secretary Victor Kalesha says lack of capital investment and modern mining equipments are major challenges facing the gemstone industry in Zambia.
Mr Kalesha said there was very little investment in the gemstone sector because Government had not marketed the industry to potential investors.
“There are investors out there who are willing to pump their money into the development of the sector if only government can come up with guidelines on how to market the gemstone industry.
“Some of our members lack capital investment while others still don’t have the necessary equipment needed in the mining of precious stones,” Mr Kalesha said in Luanshya.
He called on government to put in place regional associations throughout the country that would enable miners’ have access to association equipment.
“Government should provide plant-hire schemes around the country so that miners can be able to access equipment as associations,” he said.
Mr Kalesha also stressed that miners were having difficulties in accessing loans from financial lending institutions because commercial banks had allegedly been misinformed that gemstone mining was a risky business.
He charged that currently there was a company directly involved in the gemstone industry, which was misinforming banks, that the industry was a risky business; in order to reduce competition.