Zambia is a significant global player insofar as copper output is concerned.

The country's credentials as a copper mining company are reputable. Standing in ninth place as world largest copper producer, Zambia with four per cent of global copper production contains about six per cent of the world copper reserves.

Zambia, which last year produced 675,384 tonnes of finished copper cathodes from 17 privately-owned mines has finally become the ultimate choice for African mining firms to host the mining congress held for the fifth time at the Zambezi Sun in Livingstone from February 5 to 6, 2010 at which Vice-President George Kunda was official guest.

Organised by MiNE LLC, the 5th Africa Mining Congress attracted 50 companies from Africa in all stages of mining development.

The Africa Mining Congress is a meeting for International Natural Resources Enterprise (MiNE LCC) at which investors meet for natural resource, mining and modern energy industries.

MiNE LLC chief executive officer Michele Ashby says this year's conference is crucial because the mining sector globally is at a critical juncture.

Ashby explains that Africa Mining Congress provides an ideal opportunity for mining companies to interact with very targeted and interested group investors.

"It also provides direct access to a number of interested projects," Ashby says. "To meet the mission MiNE LLC, the African Mining Congress is a place where relationships are built that impact the financing of mining companies and projects all over Africa, by bringing together the investors, bankers and analysts with interests in Africa."

Ashby says the value of the conference includes contents on corporate presentations, networking at the many activities, and private one-on-one meetings.

"The companies at this year's congress have projects located throughout Africa mining base metals including; copper, gold, zinc, silver, nickel, uranium, iron ore, diamonds and other precious gems," she says. "The programme for the Africa Mining Congress is unique in that it includes mine tour visits hosted by the presenting sponsor companies. In 2008 seven mine tours were offered and over 80 delegates attended them."

Vice-President Kunda opened the congress with reaffirmation that Zambia has substantial deposits of iron ore, manganese and coal that would form a basis for the development of the domestic steel industry for the regional market.

"The mining sector in Zambia offers great opportunities through a wide range of minerals that can be exploited," Vice-President Kunda says. "Therefore, I urge you not to concentrate only on base metals but on other minerals as well. The country has proven deposits of the best gemstones in the world, a range of industrial and energy minerals."

Vice-President Kunda says mining activities on the continent were hurt last year due to reduced international metal prices and limited investable finances resulting from the global economic crisis.

"In Zambia in particular, some mines were put on care and maintenance while some exploration projects were suspended," he says. "I'm happy to mention that the mines that were put on care and maintenance have since resumed operations. I'm hopeful that through this interaction some of the projects that were suspended will be revived."

He adds that the government is keen to promote investment in the mining sector for both small and large-scale projects.

Vice-President Kunda reveals that the government will this year review the mines and minerals development Act number 7 of 2008 and the gold trade Act under the business licence reformer programme.

Mines minister Maxwell Mwale, who also attended the conference, says it is in the interest of the government to see that investment in the mining sector was increased so as to reverse the negative effects of the global economic crisis on the nation.

"The extractive industries are the key drivers of African economies in general," Mwale says. "Here in Zambia, mining has become the mainstay of Zambia's economy and therefore it is in the interest of government to see that investment in the mining sector is increased. This will reverse the negative effects of the global economic crisis on the nation."

Mwale adds that recovery of international metal prices had made the mining sector to become lucrative and attractive.

"During the global economic crisis mining became unprofitable resulting in a number of mining operations being slowed down or suspended," he says. "With the recovery of the metal prices on the world market, the sector has once again become attractive. It is my hope that during this congress, partnerships to revive projects in order to take advantage of the favourable metal prices have been forged."

A presentation by Mukuba Resources Limited under the management team headed by its president and chief executive officer Trevor Richardson confirmed Zambia as the fourth largest producer of cobalt.

Richardson talks about how Mukuba Resources Limited perceives the business ethics and how the domestic mineral regulation impacts the foreign-owned mines.

"Established and transparent mining legislation introduced in April in 2008 provides firm guidelines from exploration to mineral processing, prospecting licences: maximum landholding packages introduced up to 29,940 cadastre units per licence 100,000 hectares, 1000square kilometres," Richardson explains. "Up to five licences per company including subsidiaries, licences awarded for two years, renewable twice, six year total with renewals and 50 per cent of area to be relinquished at each renewal licence selects retained area. The tax percentage for mining companies includes 30 per cent corporate tax rate and three per cent royalty."

Mukuba Resources Limited, which is a responded issuer in Canada, raised US $5 million in May 2008 for exploration of the northcore and Lunga projects, raised US $1 million in December 2008 to fund further exploration of the northcore project and raised US $2.4 million in May last year to fund the 2009 exploration," the presentation revealed.