Levy launches US $100m nickel mining project
Levy launches US $100m nickel mining projectBy Carol Jilombo in Mazabuka
Tuesday April 03, 2007 [18:02]
PRESIDENT Levy Mwanawasa has launched a US $100 million nickel mining project by Albidon in Zambia's Mazabuka district. And President Mwanawasa has charged that those interested in hampering development should go to hell. Speaking at the official ground-breaking ceremony for US $100 million Albidon Nickel Mine project in Mazabuka, President Mwanawasa charged that there had been people saying that the local people were against the project and that the venture would see about 50 families relocated to another area.
He said contrary to what some people were saying, one of the resettled families who he spoke to yesterday during a tour of the area where the families have been relocated said they were happy with the move and many other families were willing to move. "So whom are you cheating when you say the people are being disadvantaged?" President Mwananwasa asked. "Those of us who want to facilitate development want to do so. You can go to hell with your politics."
He said Zambia had been independent for 43 years and wondered why those complaining did not exploit the nickel. "The nickel has not fallen from heaven like manna, it has always been there. Stop wasting our time here," President Mwanawasa said. He commended the Mazabuka councillors who had voted for the investment to be approved. "Eighteen councillors were for the idea while six were against. So who are you speaking for when you say this investment is not wanted?" President Mwanawasa asked.
And President Mwanawasa said the Munali Nickel project marked another milestone in the development of the Zambian mining industry. "I am very pleased that Albidon is investing more than $100 million in the development of the project," he said. President Mwanawasa said the government wanted to see more developments like the Munali Nickel project in the country.
In his speech under the theme; "Revival and diversification of the mining industry," President Mwanawasa acknowledged that it remained a fact that Zambia was under-explored. He said the fiscal changes as announced in the 2007 national budget should not be seen as signalling departure from the government's strong belief on the importance of mining as an economic engine.
"With the measures announced by the minister of finance, Zambia remains very competitive worldwide in attracting mining investment. The effective tax rate as a consolidation of all taxes paid by an investor in our mining sector has remained very competitive compared with the regional and worldwide average," he said. President Mwanawasa also called for increased participation of Zambians in ownership of large-scale mines.
Labels: MINING, MINING CONTRACTS, NICKEL
posted by MrK @ 11:03 PM
3 Comments:
" He said Zambia had been independent for 43 years and wondered why those complaining did not exploit the nickel. "The nickel has not fallen from heaven like manna, it has always been there. Stop wasting our time here," President Mwanawasa said. "
Because then they would have to pay 30% taxation? Because then they wouldn't get help from the government?
But then, the money would stay in Zambia. Can someone explain to me the benefit to the country, of having this nickle mine 100% foreign owned, and not being obliged to pay taxes?
Oh yeah, right, it's a '$100 million nickle project'. Why isn't the government helping indigenous miners again?
" In his speech under the theme; "Revival and diversification of the mining industry," President Mwanawasa acknowledged that it remained a fact that Zambia was under-explored. "
...
" "With the measures announced by the minister of finance, Zambia remains very competitive worldwide in attracting mining investment. The effective tax rate as a consolidation of all taxes paid by an investor in our mining sector has remained very competitive compared with the regional and worldwide average," he said. President Mwanawasa also called for increased participation of Zambians in ownership of large-scale mines. "
I'm sorry, but I can't applaud the exploitation of yet another Zambian mine for the benefit of western corporations. And how do you explain that to an individual whose economic understanding seems to be 'come and get it'.
Nobody in their right mind will ever say no to development. The problem I have with Bwana LPM is that he is still not able to see that all these nice sounding projects have not and are not having any real bearing on the people on the ground. Yes the Nickle has always been there just like there are minerals we are yet to exploit. As has already mentioned these companies are being given incentives to mine these minerals meantime we are not doing anything about empowering our own people.
Yeah I will go to hell hot as it is...
" Yeah I will go to hell hot as it is... "
Hardly. :)
He happily forgets about the 15 year tax holidays, while Zambian companies pay at least 30%, plus VAT, PAYE, etc.
Why does he have no concept of development with Zambia at the center? Why does he have no ideas of his own?
He should be stepping down, and make way for the younger generation. But then they'd still be neoliberals.
There are still 4 years, for a real nationalist to step up to the plate.
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