| Zambia to revoke mining rights of non-performing foreign firms |
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| World Affairs Talk | |
| Monday, 11 June 2007 | |
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He ordered his ministry to terminate such firms’ licences. The President ordered the minister to terminate the mining rights of investors who are not using their licences. He said the policy will allow the country, one of the world's leading copper producers, to retrieve some of the mining areas, which will be given to Zambian businessmen in order to promote citizen empowerment. A cross-section of Zambians already demanded that foreign mining giants should not be granted large-scale mining rights without going into partnership with local businessmen. The Republic of Zambia, a landlocked country in south-central Africa, covers over 752,614 square kilometres and shares its borders with Angola, the DRC, Malawi, Mozambique, Namibia, Tanzania and Zimbabwe. Zambia has been a mining country for more than 1,000 years, and an exporter of refined copper to Asia, the Middle East and Europe for at least 400 years. The country rests firmly astride the Central African plateau, a great repository of mineral wealth which stretches from Shaba in the north to the gold and diamond fields of South Africa. Zambia has one of the most important metallotects in the world containing massive reserves of copper-cobalt ore as well as gold, uranium, nickel, lead-zinc, iron and manganese. It is presently the world’s fourth largest producer of copper and has around 6 percent of the world’s known reserves. The country is believed to hold some of the highest quality gemstone deposits in the world including emeralds, amethysts, aquamarine, rubies, garnets and diamonds, which are still unexploited. The Ministry of Mines and Mineral Resources is responsible for the issuance of permits and licences relating to investment in the mining sector. The licences and permits issued include large-scale mining, small-scale mining, prospecting licences, prospecting permit, retention licences, gemstone licences, gemstone sales certificate, artisan’s mining rights and the reconnaissance permit. Huge potential still exists for developing a local, regional and export market for both marble and granite, and probably many other similar minerals that can be used in the building of quality floors and wall facings in residential premises as well as commercial buildings. Other minerals that can be mined profitably are clay, limestone, gypsum and phosphate. The first three minerals make up the main ingredients in the manufacture of Portland cement for the building industry. Phosphate and lime are key elements used in preparing some soils for agriculture use. Despite having a tremendous export market, Zambia lost a good sum of revenue from its mining industry. Government’s new stand will surely encourage local business houses to come forward. Share & Bookmark             |
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