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The mine, which is located in the central province of Zambia, is expected to be one of the largest gold mines in Zambia and a significant contributor to the gold market once operating at full capacity.
The Mumbwa Gold Mine in Zambia has the potential to significantly boost the country’s economy, with an estimated US$5 billion in revenue expected. The mine, which is located in the central province of Zambia, is expected to be one of the largest gold mines in Zambia and a significant contributor to the gold market once operating at full capacity.
The impact of the delay in reopening the Gold Mine has however been felt by the government in terms of lost revenue. With the potential to generate over US$5 billion, the mine could have been a significant source of income for the country especially at a time when the country is still working on its debt restructuring.
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According to the former Central Province Minister and Mumbwa Central Member of Parliament Credo Nanjuwa, the Mumbwa Gold Mine has the potential to generate a significant amount of revenue for Zambia. However, delays in reopening the mine have hurt the government and the local community. The Gold mine has minerals worth over US$5 billion which would be great for the country as it would positively contribute to the appreciation of kwacha which is still struggling. It is expected that the mine would be given a license for investors to start working and bring in the much-needed development in the District and the country at large. Mumbwa Gold Mine can be a significant development for Zambia with the potential to provide much-needed economic stimulus for the country.
