Japan pledges financial aid to Zambia
JAPAN has pledged financial assistance to Zambia in the exploration of oil and gas.
Mines and Natural Resources Minister Wylbur Simuusa disclosed this in Cape Town, South Africa, Wednesday where he is attending a Mining Indaba conference.
Mr Simuusa said Japan has assured Zambia that the funds were already available to do the exploration.
The Mines Minister was confident that the project once successful would help improve the country's economy.
Mr Simuusa who has also taken the opportunity to meet several mining companies at the conference said new technology was required to tap into the minerals that have remained idle.
He said North-western province had a lot of iron deposits but remained under utilised mainly due to lack of power in that part of the country.