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June 21, 2015

Zambia wants to introduce law to ban export of unfinished mineral products

Zambia is seeking to create a new law that bans the export of unfinished mineral products from the country.

Zambia is seeking to create a new law that bans the export of unfinished mineral products from the country.

Reuters quoted Zambia Mines Minister Christopher Yaluma saying at a mining and energy conference that Zambia should get all exports to be beneficiated within the country.

According to him, without complete processing, a lot of copper was being exported by the mining companies.

"My intention is to come up with an statutory instrument to compel these mines not to take any raw or semi-raw or 95%completed copper."

The companies are extracting other minerals to make additional incomes and are said to be insisting on exporting semi-processed completed copper.

Yaluma told The Post: "My intention is to come up with an SI [statutory instrument] to compel these mines not to take any raw or semi-raw or 95%completed copper.

"It has to be finished here. If we did it before, we can do it again."

If the country wishes to benefit from its mineral wealth, the government will have to become tough on mining companies.

For a long time, the Zambia Government had been talking about local processing and the latest law will make companies legally bound to process them in the country.

Yaluma further said that local processing would also ensure proper accountability of exports of minerals.

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