Watch out Zambian miners! Here comes another one...
By Jon Nones
21 Sep 2006 at 01:04 PM
Michael Sata, tipped to win next week's presidential election in Zambia, said new foreign investors would be limited to 51% ownership and copper mines would have to pay new taxes.
He said the remaining 49% share in firms owned by foreigners would be divided with 25% awarded to workers and 24% floated on the Lusaka Stock Exchange to “enable more Zambians to be shareholders.”
Miners currently operating or exploring in Zambia include: Adastra Minerals, Aldershot Resources Ltd, Caledonia Mining Corporation, Equinox Minerals Limited, First Quantum Minerals Ltd, Motapa Diamonds Inc and Teal Exploration & Mining Incorporated".
http://www.resourceinvestor.com/pebble.asp?relid=24045
Comment: Not worthwhile operating there!
Gerry
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