 Okay, thank you very much chair for that humbling introduction and also thanks for tips for inviting us to this annual forum, we are really grateful for that. We are presenting a paper, regional mean of value chains implications for Zambia's copper sub-sector industrialization oriented beneficiation. I will present starting with the introduction to set the stage then my colleague Wisdom will come in to continue with the presentation. And sorry for the delay, understand why Bain doesn't like using PowerPoint. That is the outline of our presentation, of course we are starting with the introduction and background. Then we move on to Zambia's contribution to global copper production chain and finally we look at conclusion and policy implications. In terms of the background and the introduction, I just want to emphasize the fact that Zambia relies on copper for the growth of the economy to a large extent. Copper has contributed immensely to the development of the country and this mineral has been mined for almost 100 years in Zambia. I also want to state that initially copper mining was done in a province called copper belt province near the border with the Congo, Deara. But I want to mention also that recently new copper deposits have been discovered in the northwestern province of the country which we are calling now new copper belt. And soon we shall show you why the new copper belt is becoming a very important area in terms of copper mining in Zambia. The mining industry in Zambia as I have already said is very significant. It is the major foreign exchange energy for the country. Mesa round with the copper, the economy of Zambia is affected negatively. At the end of 2014, copper exports were around 66% of Zambia's total exports. That shows how significant this mineral is to Zambia. Also in terms of contribution to GDP, 11%. Taxes and other revenues to the government treasury from the mining companies around 16% in the same period. Now, when you look at the contribution of these mining companies to the government revenue, you will see that before 2000, especially between 1990 to 2000, the contribution of the mining sector to the government revenue was limited. The rise started emerging after the mines were privatized starting in 1997. Prior to that, the mining sector was nationalized. And I think my colleague will come and explain the major critical points in the history of the mining of copper especially in Zambia. So I've seen the increase in the contribution of this sector to the government revenue, especially beginning 2005. 2011 is a critical point. This is because the government introduced what was called wind for tax. It was introduced I think around 2009, but the mines or the mining houses were resistant in paying this tax. This was only paid around 2011. So this is why you see that red bar. Again, I want to emphasize the importance of the new copper belt. According to the projections by the World Bank, the red part represents new copper belt, the blue, the odd. You will see that there is a bright future in terms of both the mining tax revenues and the mining production coming from the new copper belt. This shows that we are shifting from the original copper belt to the new copper belt in terms of relying on copper production in Zambia. At this point, I will invite my friend Wisdom to come and continue with the presentation. Okay, basically as Dr. Hampwai has mentioned, you will understand that Zambia has had several critical moments or watershed moments. These could be summarized in this way whereby we have at independence in 1964, Zambia inherited the mining sector which was basically private owned. We had basically two multinational corporations at that time that run selection trust as well as the Anglo-American. So these were the two big foreign companies owning the mining sector. So that went on for a number of years until in the 60s, the late 60s, the Zambian government decided to nationalize the mining sector. From that moment we had some kind of decline, actually it was a decline in copper production coupled with decline in copper demand and other challenges in the global economy such as the oil crisis as well as the debt crisis. Then we come to the early 90s where we had a reintroduction of democracy which set the pace again for economic liberalization. And then in the late 1990s we had the reprivatization of the mines. So from this we've had different effects which are outlined there as the first one being institutional change. From there we've had the increase in the role of multinational corporations as well as foreign direct investment. So what has happened with this increase in foreign direct investment is that there has been an effect on production, copper production. You would understand that Zambia also has been able to contribute to the overall global copper production and as you may know the copper demand has been rising over the years basically because of China and India. So we've had institutional change in that regard affecting so many things. When there are changes for instance in the fiscal regime governing the mining sector it tends to affect production as well. Summarizing the institutional change that has taken place would argue that in a period of about 7 years there have been revisions to the fiscal regime about 4 times. So this has had different effects on copper production in that when you revise the fiscal regime in a short period of time mining as you know when one invests in mine in mining production it takes a number of years to start harvesting what they invested. So if you revise within a short period of time it means this instability it affects planning and many other aspects. Foreign direct investment has increased but this graph here would be able to show you that from 1963 just a year before Zambia became independent the production trends were in that regard but there was a steep decline until somewhere around 2000 then mining production copper production rather started rising. This also is reflected in terms of the contribution to global production for Zambia especially. There has been an increase from 2003 2004 to 2013 but what you would note here is that there has been an increase but the difference is that Congo which was the second major copper producing country in Africa overtook Zambia in 2013. So Zambia has been struggling even to increase production levels since 2013. In terms of regional demand for copper if we look at 2001 South Africa used to import quite significant quantities of copper about 20 percent but currently actually South Africa imports nearly negligible copper from Zambia. Here what you would be able to note is that whereas later on we will see that South Africa exports so much to Zambia in terms of copper production as in capital equipment which is used to produce copper and many other inputs it imports less copper from there. So the value chain where copper is concerned and South Africa's participation is kind of weak as in the production aspect. In terms of the value chain and beneficiation what you would be able to see is that in as much as Zambia is able to export copper to many other countries including South Africa at a negligible level the participation in that mining sector by Zambian companies is minimal. So many South African companies participating in terms of supplying equipment many other inputs this then means that Zambian companies still have a challenge and this would then mean that to be able to improve and assist Zambian companies to benefit meaningfully from the mining sector government probably has to empower them with capacity or capabilities in different ways. It could be financing, it could be a capital equipment, it could be skills training that would then enable them contribute meaningfully even to the regional value chain for the minerals. So in general to conclude would argue that Zambia needs to promote copper revenue beneficiation that yields economic growth and human development by fostering the development of stronger mineral linkages. What this means is that there has to be a correlation between the institutional change taking place in terms of changing the fiscal regime, in terms of increasing copper production, in terms of increase in the tax revenue collection as well as projects programs which are meant to improve for instance local content which would go into encouraging the industrialization process of the country. Thank you.