"King Cobra" May Scare Copper Miners After Zambia Vote Win

Source:

"Michael Sata's victory in Zambia's presidential election may unsettle mining companies facing the prospect of higher taxes."

Bloomberg, Brian Latham and Anthony Mukwita

Michael Sata's victory in Zambia's presidential election may unsettle mining companies facing the prospect of higher taxes.

While the 73-year-old leader, known to his supporters as "King Cobra" after one of the world's most venomous snakes due to his aggressive campaigning style, has pledged to extract more money from miners in Africa's biggest copper producer.

"Sata's upset will have dramatic consequences for the country's copper-dominated mining sector, as well as for the foreign policy and mining-sector policy direction of the southern Africa region," Sebastian Spio-Garbrah, managing director of DaMina Advisors LLP. . .View Full Article

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