•MINES, Energy and Water Development minister Christopher Yaluma interacting with Common Market for Eastern and Southern Africa (COMESA) staff on the sidelines of the “Africa down under “conference in Perth, Australia. Picture courtesy COMESA

By JUDITH NAMUTOWE –

THE Government has assured investors in Australia of its commitment to the review process of mining laws to adopt a clearer policy to make the investment climate more attractive, Mines, Energy and Water Development Minister, Christopher Yaluma has said.
Mr Yaluma said as he invited more investment from Australia that the revision of the legal framework and alignment of policies was aimed at improving transparency in the mining industry.
Mr Yaluma said this during a conference dubbed “Africa Down Under” taking place in the city of Perth in Australia
Mr Yaluma said in a statement issued yesterday that the mining industry contributed 11 per cent to the economy and that his ministry was currently revisiting the law and adopting a policy that would attract more investors in the country.
“The revision of the legal framework and alignment with the policy is aimed at improving on transparency in the industry and generating more benefits to the community,” Mr Yaluma said.
About 23 African countries among them eight from the Common Market for Eastern and Southern Africa (COMESA) region were taking part in the annual conference aimed at attracting sustainable mining investment in Africa.
Western Australia Premier Colin Barnet officially opened the conference which was taking pace from started on Wednesday and ends today
The conference had brought together ministers, business leaders and executives from the mining service industries to discuss investment opportunities, value addition and mineral benefits in Africa.
Mr Barnet said Australia had 240 mining companies operating in 33 countries across Africa.
Of the 240 companies close to 70 were in the COMESA region.
He said Australia’s partnership with Africa was aimed at ensuring fair return from mining for the respective countries.
“Australia is keen to support African states to improve safety in mining and environmental management, ensure security of tenure of mining companies and laws governing the industry,” he said.
COMESA secretary general Sindiso Ngwenya led eight ministers of Mines from member states, among them Kenya, Malawi, Ethiopia, Comoros, Zambia, Seychelles, Sudan and Madagascar in the conference.
This follows the signing of a Memorandum of Understanding between COMESA and Western Australia in January, this year.
COMESA aimed at attracting partnerships and investments to the region in the sectors of mining, petroleum, agriculture, vocational training and capacity building.
The regional bloc also aimed at enabling Africa and Australia to take advantage of the positive changing face of the African continent which is continuing to attract the lion’s share of global exploration, minerals riches untapped arable land as well as low capacity and investments in agriculture.