Zambia has handed back an iron and gold exploration licence it withdrew from mining giant BHP Billiton and Blackthorn Resources to boost mining sector growth, Mines Minister Maxwell Mwale said earlier this week.
The government last week cancelled the exploration licence it awarded BHP Billiton and Blackthorn on grounds that it was in a military security zone but Mines Minister Maxwell Mwale said he overturned the decision after the joint venture appealed.
“BHP Billiton is the largest mining house in the world and to have them invest in Zambia has a lot of benefits for us. We are increasing competition in the local mining sector and competition brings international best practices,” he said.[pullquote]The government last week cancelled the exploration licence it awarded BHP Billiton and Blackthorn on grounds that it was in a military security zone[/pullquote]
Mwale said the government hoped BHP Billiton’s exploration activities in north-western and central Zambia would help diversify mining activities away from traditional mining belts like the Copperbelt.
Zambia is Africa’s largest copper producer and the mines are the country’s economic mainstay.
Foreign mining companies operating in Zambia include Canada’s First Quantum Minerals, London-listed Vedanta Resources Plc, Equinox Minerals, Glencore International AG of Switzerland and Metorex of South Africa.
[Reuters]
Indecision happening everywhere !…No security concerns then. It was a mistake!
Well Done BHP.
You are a great company that will do well in Zambia.
You will end up with a reputation that puts Chinese owned mines to shame.
A GREAT AUSTRALIAN Co.
BHP Billition have been in Zambia for many years with no results yet. I wish them all the best though.
But why are we giving exploration rights in a military zone?That clearly shows lack of leadership.What happens in say 20yrs time if neighboring rebels decide to attack and your military zone is a mine.Lord help us!
H.E MC SATA was this afternoon welcomed by millions if nt billions of people in CHOMA-southern province. VIVA PF………………..
# 5,Please don’t paste this nonsense on every story.You are starting to irritate me with your nonsense.
Cant you see we are trying to discuss development here?
BHP is a powerhouse in the mining world its a step in the right direction. Though as a Zambian I know that it is not so until the right president signs the right deal(tax rates) with the right people then we will reap the benefits.