The Southern African Resource Watch has pleaded with the Zambian Government not to sell its twenty percent shareholding in its joint venture with First Quantum Mine.
SARW Executive Director Edward Lange said his organisation is very concerned at the news that the Zambian government is considering selling its twenty percent shares in Kansanshi mine to First Quantum Minerals.
Mr. Lange said this would be a mistake and a departure from what is happening elsewhere on the continent.
He said the Zambian government’s intended sale contradicts the aspirations of the African Mining Vision (AMV), which encourages African countries to increase state participation.
“We are fully aware that the Zambian Government is supportive of the AMV and would not want to go against the continental initiative to ensure full ownership and control of minerals. State participation in mining, through outright ownership or share participation, either on a mandatory basis or through the exercise of option rights, remains common practice on the continent,” Mr Lange said.
“Since independence, copper in Zambia has had special strategic significance. The state has always believed that it needs to maintain a high degree of control over its strategic minerals. This is not unique to Zambia. It would therefore be a mistake for the government to give away the limited control that it still has over Zambian minerals.”
Mr Lange said in Africa today, many countries are considering how to increase state shares in all licenses.
“We, therefore, strongly urge the government of Zambia not to go ahead with such a transaction, but instead to work towards increasing its stake in the many mining licenses and maintain some control over its minerals.”
In Zambia when you hear about something “especially in lazy visionless Lungu’s government” its more likely that the deal has already being done, no dought about that
The shares have probably already been sold.
When you see Lungu smiling and dancing all over the place, just know that he is a very happy man.
Lungu’s bank balance is so big, they had to build more banks just to accommodate his loot.
Exactly…last time we heard about the $500 million sovereign deal which they denied now something similar has re-emerged !!
Let’s roll …
We had the same usual clowns on LT brushing it as fake news…is this not the same thing…where are you to congratulate your govt busy leveraging strategic assets
Where is that homo BR BAMBA JR to tell us about the benefits of lungus PF
” special purpose vehicles ”
In offloading Zambian assets…
LT why have you pulled the headline….
” 8000 jobs created by Chinese economic zones ”
Is it because we asked to be told what are those businesses , what do they make ??
Maybe ka chanda decided another lie is pushing it too far ??
That headline was there this morning , now it is nowhere on LT ???
We want to know what the Chinese are making in those economic zones kaiylee……
It is a SAD STATE OF AFFAIRS WITH THIS PF AND LUNGU!! Unfortunately, the current alternative when it comes to issues with Mining could even be worse. WE NEED A REVOLUTION, NEW THINKERS THAT WILL COME WITH A TRUE NATIONALISTIC SPIRIT, NOT THE CURRENT CROP OF RULING AND OPPOSITION POLITICIANS WHOSE INTEREST IN POLITICS IS PERSONAL GAIN and REGIONALISM!! Like others have said, when they are talking like this, it means they have already sold the shares and are preparing the minds of Zambians! SADLY NO UNION, NO OPPOSITION PARTY, NO CHURCH no NGO has spoken accept now, the SAWR!!The country is finished with this crop of selfish visionless politicians!!
When HH and the UPND tell you PF and lungu have or are in the process of selling , you call them bitter ……there you have it
@4.1 Spaka, But HH’s approach to the Mining sector is NOT different from PF, I have never heard of him talking about increasing ZCCM shareholding but only pledging to bring Anglo American and opposing increasing taxes on mines!! He may even be worse when it comes to mines!! In 2016 campaign he was talking of bring “friends from the Private Sector to run ZESCO efficiently” so how different is he?? I WOULD RATHER WE HAVE SOME ONE TO REVERSE THIS DAMAGE THAN ONE TO WORSEN IT,HOWEVER LONG THEY MAY BE IN OPPOSITION!!WE NEED FRESH MINDS THAT WILL MOVE THE POPULATION FROM THE UPND-PF TUSSLE and bring real development ideas!!
It’s not only of increasing taxes of mines ……the bottom line is good governance.
With good pragmatic governance everything falls in place…..now if you have a corrupt theiving violent regimes like lungus , nothing works…..you start taxing to plug holes…..
Even if they tax the mines, and tax everyone until kingdom comes, they just steal and mis use the money…..how can you use GRZ money to go inspect 2nd hand fire trucks , a trip codtoling 10 times the value of those same trucks and protecting corrupt ministers like chitotela ???
That would be fatal. …worse than what FTJ. HH, valentine Chitalu did.
There will be no need to sell these shares as they will be grabbed by lenders when we fail to pay all the nkongole.
So useless this SARWatch or SARS whatever they are – they can’t present the pros and cons of such a transaction going ahead or not. Who said that if you are not the majority shareholder then you cannot have have control, especially as Government?
Abena abilima , the
” special purpose vehicle”
Supporters of lungu…..is that all you know , borrowing and selling state strategic assets ???
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