 So we have a distinguished panel. We're going to start with, I think Andrew is going to talk for the joint paper with Steve, and I'm going to allow them 18 minutes each to disseminate their wisdom to us. Thank you very much, Andrew. Thank you. Thank you, Alan. As you can see, this is a joint paper that we did with Steve. A longer vision of the paper is available online. But for now, we'll just do a summary of the main takeaways. That's in the paper. The paper was done in 2022, really at the height of the pandemic. So we did mainly by virtual consultation. Steve was in DC, I was in Osaka. So some of the data may have shifted, but the message, I think, would be consistent. So that's the outline. What are the key issues? What are the developments in the metal markets, many copper, trends in output, and then moving news. And then we discuss the options to expand moving news with the main conclusions. Okay, what are the key issues? Well, Zambia is a mining country. And mining has provided the bulk of the revenues for almost the last 100 years. So it's key to the country's economy. But Minotrax policy remains contentious for many stakeholders who feel that the country does not benefit from which it sources adequately to its full potential. Going to the paradox of rising copper prices and output without corresponding boosting revenues and reserves. In fact, one international civil-side network puts it more bluntly. They said that Zambia is notorious for ending the hydrofumic minerals. That's a thesis which is out there. So we have had many changes in tax policy over time. But with not much success. In fact, the Minotrax Act of 2015 is currently under review with the possibility of increasing the benefits of both parties, the developers, as well as the government. What are the global developments in the markets? Consumption of copper is projected to increase by an average of 2.5% over the next decade and beyond. And it's expected to reach 20 million tons in 2026. And 20 million tons by 2030. This is driven mainly by the new green energy requirements. And it presents a good opportunity for countries like Zambia and other metal producers in copper and cobalt to take advantage. So the market is so attractive that a lot of developers are coming into the market for new exploration, including countries which were at one time seemed to be quite risky. So the opportunities are out there. What are the trends locally in Zambia? You know, after a steep decline in the 90s, there was a stalemate in the mines. The government was trying to privatize the mines, but there was a protracted negotiation with companies. As a result, output grounded almost zero. And you know, there wasn't much output coming out and there wasn't much revenues in terms of mining. But in the mid-2000s, they finally struck a deal where new investors came into the country to invest and improve the mining conditions. So production has been increasing ever since. In fact, in 2015 it was just over 7,000 tons and this rose to almost a million tons in 2021. It has stabilized around that level for now and that's those figures are working with. Mino prices also rose rapidly. In fact, in 2021 it exceeded 10,000 tons per ton, but it has come down a bit. I think the latest figure I was seeing were about 8,000 dollars per ton, but it's still quite fired to be described as the new oil. So what are the issues in mining revenues? You know, Zambia is leaving from copper and other minerals has not matched the trend in rising production. I already mentioned that. The country has accumulated little reserves in the first of higher prices and the local currency the quarter, you know, all at the same period depreciated significantly. There was a slight appreciation when the country was nearing a debt roof package. And you know, on the news of that, the quarter rose quite a bit, but the generator has been depreciating. Now, what are the options to expand new revenues? The first one is to have a comparative tax regime. By that we mean that a tax regime that enhances revenues, but also sustains production and investments from developers. We use the example of Botswana a lot in our paper because Botswana is seen as one of the success stories in terms of expanding revenues from mining as well as generally avoiding the resource case to which many countries have succumbed. So, you know, Botswana receives large revenues in terms of royalties, dividends, and also corporate taxes, you know, because Botswana, apart from mining, the government has a large tech in the major company there, so they participate in the royalties. So we feel that Zandia could adopt some of these best practices from our neighbor. There was an amendment to the Mino's Act in 2020 which focused mainly on the treatment of royalties. Now, our assertion also is that no amount of taxation can bring in enough revenues because of issues of tax avoidance and so forth. So we feel that ownership of the asset is also quite important. So we are advocating in the paper that the government and other local actors could burden ownership of mines to increase the local asset ownership through a strategic acquisition, not by mass nationalization or whatever, but strategic acquisition, market-based operations to make sure that this is done by mutual consent. Again, I come back to Botswana. You know, in Botswana, the mining, the diamond giant, the bears and the government have a 50% joint venture between them, which allows both parties to access, when the revenues increase, both parties share equally and so forth. In Zambia, of course, the local hoarding companies, this is CMIH, already holds an average of 20% share in mining assets, which provides a good basis for building strong joint ventures going forward. But a share hoarding of 50% is really ideal, both in terms of living use as well as in decision-making, when it comes to investments and also other key decisions. The issue of capacity, capacity bordering not only on institutions, but also on governance. We propose that there should be efforts to revamp capacity for monitoring the flow of mining resources in and out of the country, and adopt policy reforms to ensure effective and fair taxation for both parties. There should also be investment in capacity across relevant agencies governing the mining sector, including government ministries, the tax authority, and so on. So the general need for capacity, especially at the legal level, I understand that in terms of fiscal, it has been improving, but at the legal level, there is need to have capacity, which can certain quantities and quantities of exports at exit. So that you know what the country is pushing out and what revenues are coming in. Finally, on the options for expanding revenues is the fact that now the country should enter in an aggressive manner, the mineral and green value chains, which are coming up. In order to enter the mineral value chain created by the ongoing shift to green energy and electric vehicles, and also to expand alternative uses of metals locally with the goal of boosting the role of metals in industrialization. We are talking about value addition in this context. The only way to exit the resource case is through industrialization to convert the minerals that we produce into sophisticated products which can compete internationally. So again, I'll give an example. You know in Botswana what they do, over time, whenever they renegotiate the contracts with the bears, the government puts up some demands. One of the things they kept hitting on was to have as much as possible local beneficiary of diamonds. And at every stage they were increasing the local content into the diamonds. So this is one aspect that in Zambia they can also use. When you negotiate with the mines you discuss how they can expand value addition. We have in Zambia a number of companies which are already into metal fabrication. They have been producing cables and other components from minerals for some time. But they could go beyond that and get more sophisticated to tap into the new products, especially the EV components which are coming up. And last but not least, between Zambia and DRSC they produce almost 70% of the minerals, especially cobalt and copper. So as neighbors they could enhance collaboration to develop a mineral industrial complex. Whenever I talk about this, I say, look, we are a common border. Let's use that no man's land to do this. And we hope that this will be followed through. They have started already the efforts. I think some memo use have started, but speed is really essential. Yeah, these are the main recommendations. I've already outlined them. The first one is to adopt a mineral tax regime which will enhance every new. The second one is to expand log ownership because we think that taxation is a necessary but not sufficient condition to improve the revenues. And also to revamp the institutions to monitor and ensure effective step taxation including strengthening mining surveillance in the main tax authority, the Zambia region authority. And also deepen participation in growth minerals, value chains, adding value to Zambia's copper and cobalt that are key to renewable energy technologies. Thank you.