Japan Pledges $1.5 Billion for Zambia’s Mines

Japan has pledged $1.5 billion to support investments by Japanese companies in Zambia’s mining industry. This announcement signals a significant boost for Zambia’s mineral wealth development and a potential win-win for both nations.

The commitment was made during a bilateral meeting in Tokyo between Zambia’s Minister of Mines and Minerals Development, Paul Kabuswe, and Japanese officials. Japan’s Minister of Economy, Trade and Industry, Saito Ken, confirmed the eagerness of Japanese businesses to invest in Zambia’s mines.

Japan is not just throwing money at the problem. Taku Ishii, Japan’s METI Vice Minister, emphasized a desire for a long-term, mutually beneficial partnership. He highlighted Japan’s interest in “value addition and jobs for the young generation” in Zambia. This suggests Japanese investment could go beyond simple extraction, potentially including smelting, processing facilities, and skills training for Zambians.

Ishii also pointed to ongoing cooperation between the Japan Organisation for Metals and Energy Security (JOGMEC) and Zambia’s Ministry of Mines in mineral exploration. This includes past training programs for Zambian officials and a commitment to further technical collaboration.

Zambia is keen to leverage this partnership. Minister Kabuswe proposed joint ventures and investments in areas like geological mapping, a crucial step in identifying new mineral resources. He also emphasized the need for capacity building in Zambia’s geological survey department to equip them with the latest technologies for exploration.

Kabuswe expressed his appreciation for Japan’s longstanding relationship with Zambia, with both countries celebrating 60 years of bilateral relations this year. This new pledge of financial and technical support seems poised to further strengthen this partnership.

This article originally appeared on Diplomatic Watch