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UPDATE 1-Zambia to resume issuing new mining licences

Published 2016-02-04, 09:50 a/m
© Reuters. UPDATE 1-Zambia to resume issuing new mining licences

(Adds details)
LUSAKA, Feb 4 (Reuters) - Zambia has resumed issuing new
mining licences, and granting renewal and transfer of rights
which it had suspended in August last year, its mines minister
said on Thursday.
Under the new rules, the government has increased the area
of exploration for mining investors, raising the possibility of
finding meaningful deposits and justifying larger capital
investment, mines minister Christopher Yaluma said.
The new regulations had also increased the period of
exploration to 10 years from a renewable period of two years,
giving investors ample time to search for deposits, he said.
"In view of this development, I wish to declare the
resumption of the issuance, renewal and transfer of mining
rights and non-mining rights with effect from Monday," Yaluma
told a media briefing in the capital Lusaka.
Yaluma said the new regulations would also encourage the
development of local communities in areas surrounding the mining
areas with anticipated larger capital investment.

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