[miningmx.com] – ZAMBIA has suspended the award, renewal and transfer of mining rights whilst it examines the regulatory framework following adjustments in mining-related legislation, said Bloomberg News.
“The suspension, we assume, would be taken to give the ministry time to align its procedures to the new law,’ Chamber of Mines CEO Maureen Jangulo told Bloomberg News in emailed replies to questions.
The government will resume issuing mining rights after completing the review of related regulations and procedures, Mines Minister Christopher Yaluma said in a statement published in the state-owned Zambia Daily Mail on Monday.
Zambia recently lowered royalties payable on open cast and underground mining activities following complaints from foreign investors that earlier increases in the royalties would harm current and future investment.
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