Project: Emerald mining
Location: Lufwanyama Emerald Restricted Area, Mitondo South.
Summary: Mining company Nachingwali Enterprises Ltd. holds a gemstone mining licence and intends to exploit emeralds at Lufwanyama. The company has so far invested K780-million in exploration, core drilling and excavation of a trial mining pit. The mine has the potential to produce raw emeralds worth a minimum of US$1.5-million per year, but this projected analysis is only for 20% of the concessioned area. The location is near power supply and road.
Project cost: US$5-million (working capital and equipment)
Documentation: Company has gemstone mining licence, an environmental impact report, exploration report and a core drilling report
Licences: An investment licence will be required.
Fiscal incentives
1. Duty free importation of machinery and equipment. This includes specialised motor vehicles for use in exploration or mining.
2. Mineral royalty of 5% of gross value for base metals and precious metals. VAT is 16%.
The Zambian Development Agency (ZDA) facilitates non-fiscal incentives such as:
1. Investment guarantees and protection against nationalisation
2. Free facilitation for application of immigration permits, secondary licences, land acquisitions and utilities.
For further details on this joint venture opportunity contact the ZDA
Key contact: Florence Mumba
Director: Investment Promotion and Privatisation
Zambia Development Agency
Email: fmumba@zda.org.zm
