The Zambia Development Agency (ZDA) says it will use the Shanghai Metals Market (SMM) platform hosting more than 3.8 million subscribers to aggressively Market Zambia’s investment potential in China.
ZANIS reports that ZDA Director General, Albert Halwampa says the Agency will leverage its collaboration with Shanghai Metals Market to promote value addition in critical minerals such as cobalt, copper, lithium, manganese and other metals.
“The Shanghai Metals Market has huge network of subscribers that connects upstream and downstream industries, notably in metals and electric car batteries which is crucial for our minerals value chain,” he observed.
Mr Halwampa noted that President Hakainde Hichilema would like to see a quick shift from the continued export of raw materials to value addition in resource areas for the growth of local economies.
He said President Hichilema has been working hard to ensure that Zambia’s investment climate is conducive and that this should be supported by a robust investment program.
The ZDA chief disclosed that the Agency’s partnership with Shanghai Metals Market will lead to an actualization of an agreement and signing of a Memorandum of Understanding with SMM that will help unlock Zambia’s mineral wealth and position the country for greater competitiveness on the global stage.
“We aim to bring investors listed on the SMM platform to Zambia, our plan is to establish factories closer to the source of these critical minerals. This approach will significantly lower production costs and stimulate local economies,” he said.
Mr Halwampa said this when a delegation of officials from the Presidential delivery unit (PDU), Ministry of Energy, National Assembly and ZESCO met top management officials at the Shanghai Metals Market in China.
And Shanghai Metals Market Chief Executive Officer Logan Lu said his company will soon set up offices in Lusaka to facilitate Chinese investment in manufacturing especially in areas that include energy and electric car batteries.
Mr Lu emphasized that SMM’s engagement with Zambia will play a significant role in promoting investments, particularly given the historical ties between the two nations in sectors such as infrastructure and energy.
“With approximately 800,000 daily page views from Chinese manufacturers, SMM is well-positioned to act as a communication bridge between Zambia and potential investors,” he said.
The Shanghai Metals Market is one of the most comprehensive intelligence company benchmarking the prices of non-ferrous, ferrous and new energy materials.
