Zambia to Issue Uranium Mining Licenses

Source:

"Zambia is to start issuing uranium mining licenses to interested firms following the realignment of the country's mines and minerals act. . ."

Zambia is to start issuing uranium mining licenses to interested firms following the realignment of the country's mines and minerals act, deputy minister of Mines and Minerals Development, Boniface, Nkhata has said.

He said government will soon issue uranium mining licenses to two of the four investors who applied for them under the new legislation.

Nkhata said at the ongoing Mining Indaba conference in Cape Town that the two licenses will be granted before the end of the current quarter.

He explained that four mining companies have applied for uranium mining permits under the recently established legislation and that two of them would be granted the licenses in the first quarter of this year.

Nkhata explained that the developments in the world financial market have affected production in Zambia's mining industry.

Zambia expects copper production to fall to around 600,000 tonnes this year from a planned 700,000 tonnes because of shutdowns in the sector grappling with low copper prices.

According to Miningmx.com, the Zambian Government had to back down from its higher tax regime because of the reversal of high copper prices, canning the windfall tax introduced last year and increasing capital allowance to 100% to promote investment in the country.

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