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The
Zambian Chamber of Mines said on Friday it welcomed the lifting of a ban
ordered this week by the government on metal exports.
Zambian President Michael Sata, who was elected to office in September, had ordered the ban to be in place until October 15, as part of efforts to fight corruption and boost tax revenue collection in Africa's largest copper producer.
However, on Thursday, just two days after the announcement, the government reversed its stance.
Chamber of Mines general manager, Frederick Bantubonse has said he mining companies welcome the lifting of the suspension as it was going to hurt them if it had stayed for too long.
Zambian President Michael Sata, who was elected to office in September, had ordered the ban to be in place until October 15, as part of efforts to fight corruption and boost tax revenue collection in Africa's largest copper producer.
However, on Thursday, just two days after the announcement, the government reversed its stance.
Chamber of Mines general manager, Frederick Bantubonse has said he mining companies welcome the lifting of the suspension as it was going to hurt them if it had stayed for too long.
The
government wanted the ban to give it time to put new export regulations in
place, but it appeared it would take longer than a week to draw up the plans,
and concern mounted that the vital mining sector would be damaged.
Mining accounts for more than three-quarters of Zambia's export earnings however their contribution towards the national resource basket is a paltry 3 per cent.
Mining accounts for more than three-quarters of Zambia's export earnings however their contribution towards the national resource basket is a paltry 3 per cent.
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