Zambia is not thinking of taking over mining firms by force, assures minister
Bwalya Ng’andu’s comments may ease concerns among investors in companies including First Quantum Minerals and Barrick Gold
Lusaka — Zambia isn’t looking to take over more mining companies, nor is the government planning to nationalise the industry, according to finance minister Bwalya Ng’andu.
The government has acquired Glencore and Vedanta’s local operations in the past two years. Remarks by President Edgar Lungu in December that Africa’s second-biggest copper producer wanted to take “significant stakes” in unspecified mines led to fears of a fresh wave of nationalisation...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.