Thursday, October 6, 2011

GOVERNMENT LIFTS BAN ON COPPER AND OTHER METALS EXPORTS

The ban on metal exports has been lifted after 2 days of its imposition.
Mines Permanent Secretary, Godwin Beene has confirmed the development.
The ban had been imposed following a Presidential order that al exports will have to be approved by the Bank of Zambia.
The order was meant to facilitate the resolving of irregularities and to formulate new export guidelines as well as increasing transparency.
Last week when issuing the order, President Michael Sata made the order in a perceived move to have state oversight on the mining sector, which is heavily operated by foreign companies.

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