(LUSAKATIMES) Nationalisation of mines opposed
Nationalisation of mines opposedJanuary 8, 2009
The Mine suppliers and contractors Association of Zambia says nationalizing the mines is not the answer to the current problems in the sector. Association president Fanuel Banda is of the view that mines can still operate buoyantly in private hands.
Mr. Banda said Zambia has learnt a number of lessons from nationalizing industries and can therefore not afford to gamble with mining conglomerates. He observed that the benefits of having mines in the hands of the private sector are enormous.
Mr. Banda told ZNBC in the Copperbelt Province mining town of Kitwe that Government should instead address some of the grey areas affecting the mining sector.
He has advised Government to revisit the laws on the Investment Act which should dis-allow the externalization of money raised from the mining industry.
ZNBC
Labels: MAZ, MINING, NATIONALISATION
posted by MrK @ 5:21 PM
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