President Mwanawasa has instructed Mines Minister, Kalombo Mwansa to terminate mining rights of investors who are not using their licences.
Mr. Mwanawasa said the minister will strictly implement the policy of “use it or lose it”.
He said this in a speech read for him by Vice President, Rupiah Banda at the official opening of the 50th copperbelt mining, agricultural and commercial show in Kitwe.
The President said the action will free some areas for allocation to new investors as government is in a hurry to develop the country.
He said government will not allow a situation where some people hold on to mineral areas without undertaking the expected economic activities.
Mr. Mwanawasa said government is deliberately promoting ownership of large scale mines by Zambians on their own or in partnership with foreign investors.
Zambian Chronicle 
June 4, 2007 at 2:20 am
Is this good or what?
June 4, 2007 at 3:18 am
Kabwe,
… I think that it would not benefit the nation to have leasehold of mineral rights in the hands of investors that are not currently involved in economic activities at all. On the other hand it will also be necessary to review some of the mineral rights that are already out there.
Take for instance the uranium rights that belong to Zambezi Resource and Zambia Nickel … these rights were offered for parity $5,000,000.00 if my memory serves me right. We are talking about uranium for crying out aloud.
Future power plants around the world will be powered by this mineral, future spacecrafts will be powered by this mineral, submarines use it presently as fuel and any country (Zambia included) which has this resource in abundant supply will be the envy of the world fifty years down the road.
In our case, we have sold our birthright for a morsel of bread in the name of expedited economic activities … thanks a trillion.