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By Shapi Shacinda

LUSAKA, Jan 11 (Reuters)

Zambia said on Friday it had discovered more oil and gas reserves and had set up a petroleum committee to outline regulations for foreign investors.

President Levy Mwanawasa said the government would also award a 30 percent stake to a foreign equity partner Zambia’s only refinery, Indeni.

Mwanawasa said soil samples from eastern Zambia had shown the existence of oil and that other samples from the western parts also showed encouraging results for oil and gas.

Zambia first announced oil in its northwestern province in early 2007.

“Further investigations were extended to the eastern province in 2007 where 153 soil samples were collected (and) whose laboratory results are very encouraging,” Mwanawasa said in an address to parliament.

Mwanawasa said the government will create a separate regulatory framework for oil exploration and production for foreign investors who would have to obtain different licences for the two undertakings.

“As a result, the government has suspended the process of invitation to tender until the Act (legislation) is repealed and replaced. A new Bill is expected to be tabled in (parliament) within the first quarter of this year,” Mwanawasa said.

The government had planned to call for bids early this year for foreign companies to start major exploration work.

He said the current law had weak provisions for the exploration and production of oil and also on environmental protection and that these would be strengthened in the revised legislation.

Mwanawasa said he had already appointed a petroleum committee to oversee the development of the oil sector.

“The committee is already spearheading formulation of policies and guidelines relating to petroleum and its development in Zambia,” Mwanawasa said.

Mwanawasa said Zambia will invite a third equity partner in the Indeni Oil Refinery, which it jointly owns with French oil major, Total (TOTF.PA: Quote, Profile, Research), on a 50-50 basis.

“The government and the oil company, Total, who are the two shareholders in Indeni have agreed to invite a third shareholder to take up 30 percent of the shares. The process will commence in the first quarter of this year,” he said but gave no further details.

The move was aimed at attracting fresh capital investment in Indeni Oil Refinery and revamp its operations, Mwanawsa said. (Reporting By Shapi Shacinda)

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By JAMES MUYANWA

levy.jpgPRESIDENT Levy Mwanawasa has told Zambians to prepare themselves to participate in global economy as Government increases citizens’ access to investments through the programmes of the Citizens’ Economic Empowerment Commission that kick off this year.

Addressing the nation on ZNBC radio and television on the even of the New Year, President Mwanawasa said that Government would increase the Zambians’ access to investment through the CEEC, which would enable all citizens, including women and the youth to have an opportunity to fully exploit their entrepreneurial abilities.

Dr Mwanawasa said the creation of multi-facility economic zone in Copperbelt and Lusaka provinces was another way of empowering the local people and uplift their standards of living through job creations.

He said Government on its part would continue implementing prudent macro-economic policies to safeguard gains made so far while ensuring the economic activities benefited the people. The focus for this year would, therefore, to grow the economy by at least seven per cent, he said.

Dr Mwanawasa said Government was keen to ensure that Zambians fully participated in the economic affairs at all levels including the international one, and urged the Zambian private sector to actively participate in the procurement and exploration of petroleum.

Dr Mwanawasa said Government had worked hard to overcome the challenges, which had been causing the intermittent disruptions in the supply of petroleum. Government had now introduced a long-term supply system, he said.

“As regards petroleum exploration, I am pleased to note that in the past year, Government has engaged stakeholders in order to finalise proposed amendments to the Petroleum Exploration Act of 1985,” he said.

Dr Mwanawasa said as soon as amendments to the Act were effected the nation would witness exploration activities in some provinces particularly North-Western Province where selected blocks had already been demarcated.

On mining, he said, the sector had made tremendous achievements and attracted huge investments but the onus was now on the Government to ensure that full benefits were derived from the ventures.

He said it was for that reason that this Government had engaged mining companies to re-negotiate the mining development agreements, which he said, would be concluded soon.

“Fair-minded and objective people will agree that so far, our economic, political and social programmes are on the right track. This is evidenced by the positive economic developments. “At the macro-economic level, the economy has continued to perform very well,” he said.

Source: Times Of Zambia

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LUSAKA, November (28) – A unit of South Africa’s Standard Bank has tendered to finance a $1.07 billion crude oil feedstock purchase deal for mineral-rich Zambia, a senior government official said on Wednesday.

Energy and Water Development acting permanent secretary, Oscar Kalumiana, said Stanbic Bank Zambia Plc and Finance Bank Ltd., another local bank were competing for a two-year financing contract for Zambia’s 1.4 million tonnes crude oil requirements.

Zambia, which has faced intermittent fuel shortages due to problems in procuring crude oil for its vast copper and cobalt mines and other sectors of the economy will announce the successful bank by mid-December, Kalumiana said.

“The two banks submitted technical financial proposals through the Zambia National Tender Board (ZNTB). We are evaluating the proposals and will select one of them before mid-December,” Kalumiana told journalists from state media.

Officials say the government is currently scrutinizing tender documents for five foreign oil trading firms which want to start procuring oil for the country.

Kalumiana said the government had requested local banks to participate in the financing to pay for the feedstock supplied in order to access funds quicker, especially for upfront costs.

“It (oil deal financing) will be a revolving facility with each shipment to last one and a half months at $67 million per oil shipment at current prices and we need eight shipments in a year. The banks have other charges and their bids will be graded depending on who has the best structure,” Kalumiana added.

He said Zambia and French oil major Total, which are equal shareholders of the country’s sole Indeni Oil Refinery, had agreed to get a local bank to finance the purchase of oil.

“We agreed with Total that instead of the two shareholders providing the money, we should let the money come from the private sector because the business is profitable. The local banks will be getting their money (after) the fuel is sold,” Kalumiana said.

In October, Zambia — which uses huge amounts of diesel to run its vast copper mines, the country’s economic lifeblood, and other industries — faced severe fuel shortages after Total stopped crude oil imports for the country over a pricing dispute.

Commoditex International of the United Kingdom, Russia’s Lukoil International Trading and Supply Company, Trafigura of Italy, Addax and Oryx Group of France and Independent Petroleum Group of Kuwait are the firms that tendered to procure oil for Zambia.

According to ZNTB data, the oil traders have submitted bids with prices ranging from $65.69 per tonne for crude oil from Iran to $76.15 per tonne of Oman.

Officials say the government turned to local banks for financing after Citi Bank of the United States in October declined to provide financing for crude oil Zambia wanted to purchase from Iran due to an embargo for U.S firms against dealing with Iran.

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$200m sugarcane project launched
By ANGELA CHISHIMBA
 

PRESIDENT Mwanawasa yesterday launched the Nakambala sugarcane expansion project estimated to cost US$200 million. President Mwanawasa said the expansion project had put Zambia in the league of the major sugar producers in the world.

“It is good that Zambia will not only be known by its production of copper but sugar as well,” he said.

The project would expand the country’s sugar exports mainly to the European Union.

He said the project would ensure increased income and creation of more jobs.

The President said the production of ethanol by Zambia Sugar would also help reduce the import bill for petroleum.

He was confident that most of the US$200 million to be pumped into the expansion programme would come from Zambian banks, which would in turn derive profits out of it.

Mr Mwanawasa urged Zambians to position themselves and ensure they benefited from the project.

He appealed to the Zambia Sugar management to continue supporting indigenous Zambians in order to support the Citizens Economic Empowerment Act.

He urged management to assist local people to take advantage of business opportunities that may arise following the launch of the expansion programme.

He was glad that Zambia Sugar Company decided to invest in Zambia at a time when most investors feared to invest in the country.

He said Zambia was an investor-friendly country.

He paid tribute to traditional leaders in Southern Province for releasing land to put up the Albidon Nickel Mining and Zambia Sugar expansion projects.

Mr Mwanawasa also urged investors to pay attention to concerns of local communities.

“Investors should ensure that they take the owners of the land on board,” he said.

President Mwanawasa also held a meeting with the company to discuss labour matters.

He could not, however, disclose what had been discussed.

And Zambia Sugar managing director, Paul de Robillard, said the sugarcane expansion project was approved at a cost of K840 billion on March 28, 2007.

The project is based on a 50 per cent increase in cane crushing capacity of the factory, linked to expanded sugar cane growing and the construction of new canals to deliver irrigation water to new areas of sugarcane development.

The project will also result in Zambia Sugar becoming fully self-sufficient in its own electricity requirements.

Mr de Robillard said the anticipated growth in production would come from a combination of Zambia Sugar’s own estate operations, commercial out-growers and small-scale grower schemes, both new and existing, totalling 10,500 hectares.

He said the first phase of the expansion had started and would be completed in time for the sugar season in April 2008.

Mr de Robillard said as an alternative market, the unrestricted European market access entitlements for least-developed countries (LDCs), including Zambia, to be effected in 2009, would provide a minimum underpin price for the increased production.Under the EU reformed sugar regime, the price for bulk raw sugar would be guaranteed at a level that is 33 per cent lower than the existing price.

Mr de Robillard said the unrestricted nature of this initiative for sugar exporters in LDCs would also enable Zambia access the full value chain existing in the EU sugar market.

This would open opportunities to earn commercial premiums currently not available to exporters due to the EU’s restricted quota system.

He said molasses production would increase to 95,000 tons by the end of the project and at that stage, a feasibility study to investigate the production of alcohol for national fuel pool would be undertaken.

“It is envisaged that if viable, an ethanol plant would be able to supply approximately 10 per cent of the country’s fuel requirements,” he said.

Source: Zambia Daily Mail

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HOPING TO BOOST FOREIGN INVESTMENT

 

Zambia is to defer payments on a 30% customs duty for mining equipment for one year to allow foreign mining companies time to get operations running smoothly.

LUSAKA (Reuters)  – 

Zambia will defer payments on customs duties in a bid to boost foreign investment in its mining industry, finance minister Ng’andu Magande told Reuters in a weekend interview.

Magande said Zambia’s Treasury will defer payments on a 30 percent customs duty on imported mining equipment for up to one year to give companies a chance to get operations going smoothly and gain profits from copper and cobalt projects.

“I can’t tax somebody who is not making profits,” he said.

The Treasury has said it would raise mineral royalties to 3.0 percent from 0.6 percent and corporate tax to 35 percent from the current 30 percent for mining companies following a rise in global metals prices.

Magande said negotiations on royalties, which were scheduled to start in September because Zambia was hiring foreign consultants on the talks.

“We should be able to start this process by the end of September or October. Everybody thinks that perhaps within three months we should be through with the negotiations,” he said.

Copper mining earns the bulk of Zambia’s foreign exchange but analysts say the country does not reap enough benefits becaue the mines are owned by foreigners.

He noted there was no fresh investment from new foreign companies but that existing projects were expected to raise output.

“Most of the big companies that have already had (investment) plans are saying to us that the highest curve of investments is this year and then next year we will see production coming up,” said Magande.

Foreign firms operating in Zambia include London-based Vedanta Resources Plc , Canada’s First Quantum Minerals , Swiss firm Glencore International AG and Australia’s Equinox Minerals Ltd.

Most of Zambia’s big copper mines are majority-owned by foreign firms, with the government holding no more than a 14 percent stake in any one venture.

Zambia forecasts finished copper output to hit 670,000 tonnes in 2007 from 515,000 tonnes the previous year.  

http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=25358&sn=Detail

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China, Filling a Void, Drills for Riches in Chad

Ruth Fremson/The New York Times

Chinese and Chadian workers at an oil site in southern Chad, part of China’s growing economic presence in Africa. 

By HOWARD W. FRENCH and LYDIA POLGREEN

Published: August 13, 2007

KOUDJIWAI, Chad — The small plane flew in low over a scorched, peppercorn scrubland, following a broad, muddy river that was all elbows on its run to the southeast.

New Power in Africa

The Pursuit of Oil

This series explores China’s deepening economic and political ties with Africa.

Drilling for Oil, No Strings Attached

The New York Times

Koudjiwai, a small village in Chad, is surrounded by a Chinese oil exploration zone. 

The first hint of humanity came with the appearance of an immense grid for seismic testing, laboriously traced through the brush. Finally, a lonely, hulking steel drilling platform popped into view.

Chad is as geographically isolated as places come in Africa. It is also among the continent’s poorest and least stable countries, the scene of recurrent civil wars and foreign invasions since it gained independence from France in 1960.

None of that has put off the Chinese, though. In January, they bought the rights to a vast exploration zone that surrounds this rural village, making the baked wilderness here, without roads, electricity or telephones, the latest frontier for their thirsty oil industry and increasingly global ambitions.

The same is happening in one African country after another. In large oil-exporting countries like Angola and Nigeria, China is building or fixing railroads, and landing giant exploration contracts in Congo and Guinea.

In mineral-rich countries that had been all but abandoned by foreign investors because of unrest and corruption, Chinese companies are reviving output of cobalt and bauxite. China has even become the new mover and shaker in agricultural countries like Ivory Coast, once the crown jewel in France’s postcolonial African empire, where Chinese companies are building a new capital, in Yamoussoukro, paid for by Chinese loans.

Surging Chinese interest in this continent has helped bring about what many Africans believe is the most important moment since the end of the cold war, when democracy was spreading in Africa and Western nations spoke of a “peace dividend” that might ease African poverty.

That blush of interest in Africa quickly faded, though, as did several of the new democracies, and Africans and Westerners have regarded each other warily ever since. Westerners complain about chronic corruption and ineffective government, while Africans lament broken promises on aid and a hostile international economic system.

The Chinese have stepped into this picture, coming to struggling countries like Chad with deep pockets, fewer demands on how African governments should behave and an avowed faith in everyone’s ability to prosper.

As Beijing’s ambassador to this country, Wang Yingwu, said at his residence in Ndjamena, Chad’s capital, where the electricity repeatedly failed, “We are exempting Chadian goods from import duties.” When the interviewer noted that Chad produced almost nothing besides oil, Mr. Wang was undaunted, saying, “If they don’t produce things today, they will tomorrow.”

To help make that happen, China plans to build the country’s first oil refinery, lay new roads, provide irrigation and erect a mobile telephone network, for starters.

With such intensive efforts across the continent, China’s trade with Africa topped $55 billion in 2006, up from less than $10 million in the 1980s. To achieve this growth, it has bypassed multinational institutions like the World Bank and the International Monetary Fund and flouted many of their lending criteria, including minimum standards of transparency, open bidding for contracts, environmental impact studies and assessments of overall debt and fiscal policies.

In some ways, the new Chinese model of doing business in Africa is a throwback to an earlier era of Western involvement that is now widely seen as disastrous. In that era, borrowing countries typically had to work with companies from the lending nation, limiting competition and giving priority to business over development. Today, China takes things even further, signing long-term deals for rights to natural resources that allow countries otherwise unworthy of credit to repay their debt in oil or mineral output.

“In what manner has Africa progressed, in what sector?” said the Chadian president, Idriss Déby, referring to decades of close ties to the West. “Whatever the good will of Africa’s old friends and the old partners in its development, it has not progressed at all.”

Still, major doubts hang heavily in the air. Will China’s hunger for raw materials enable this continent to take off? Or will Beijing’s willingness to spend whatever it needs in Africa, without regard to fiscal prudence, democracy, honest business practices and human rights, produce a replay of booms past, enriching local elites but leaving the continent poorer, its environment despoiled and its natural resources depleted?

A Test Case for China

There are few better places than Chad to watch for signs of how China’s African gambit will pay off. Chad ranks just four places from the bottom on the United Nations scale of human development, yet it is emerging as a critical piece in China’s economic push in a broad swath of sub-Saharan Africa, beginning with Sudan and extending in virtually every direction.

Despite advanced prospecting by French and other Western firms dating back to the 1970s, Chad’s oil had never been tapped. The nation was simply too unstable and the price of oil too low to justify investing much here. The oil that had been found was of low quality, and there was no practical way to get it out.

Ruth Fremson/The New York Times

A young man selling expensive imported gasoline in Ndjamena, Chad’s capital, where little oil revenue has reached the people. 

Drilling for Oil, No Strings Attached

That changed in 2000, when the World Bank agreed to help finance a $4.2 billion, 665-mile pipeline connecting Chad to Cameroon on the condition that oil revenues be used to fight poverty.

Chad’s revenues quickly outstripped expectations, but have not gone into quelling its immense poverty. Mismanagement and fraud have beset the World Bank plan from the start.

Beyond that, Chadian rebels with bases in Sudan have been trying to depose Mr. Déby, so he pressed the World Bank to relax its rules on how to spend the country’s oil money. A compromise was reached, and he went on a military spending spree, buying guns, aircraft and armored vehicles for his troops, along with a fleet of armored Humvees that stop traffic as they zoom about Ndjamena’s dusty, potholed streets.

Seeking an even freer hand with the country’s oil bonanza, Mr. Déby’s government also hinted that it could find other partners willing to invest in Chad, especially with the price of oil so high.

Then, in 2006, Chad ended a relationship with Taiwan and recognized mainland China, and the floodgates opened. China bought the rights to several oil exploration zones in the country from a Canadian company and has gone from bit player to center stage in Chad’s affairs, confident that it can wring smart profits from the most inhospitable conditions.

“The Canadians and the Americans are only interested in really big finds,” said a veteran Western oil production engineer who works under contract here for the China National Petroleum Company, the C.N.P.C. “Anything else they think is not worth their time. The Chinese have a different approach. They are happy with the smaller finds, just lots of them. “They seem to have a different time frame, too,” the engineer added. “They plan to be here for a while.”

Indeed, the Chinese dream in this region consists of making finds here and there, using the World Bank financed pipeline to transport the oil and eventually building new pipelines to connect with a Chinese-built grid in Sudan.

This vision requires not only finding more oil, but establishing peace between Chad and Sudan. Darfur, the chaotic western Sudanese region where at least 200,000 people have died and 2.5 million been displaced in a government-backed counterinsurgency campaign, lies next to China’s exploration zones. Human rights groups maintain that Chinese weapons have played a major role in the carnage in Darfur.

Beijing’s recent diplomatic activity in the region may be explained by these Chinese oil interests as much as by American pressure on China to help stop the killing in Darfur.

“It used to be that when we had problems with our neighbor sending mercenaries to invade us that none of our complaints before the United Nations would pass, because China blocked them,” said President Déby. Since breaking relations with Taiwan and opening the door to Chinese investment, he added, “we have been able to raise our concerns without taboo.”

One topic that neither side was willing to say much about was the World Bank’s foundering efforts to ensure that petroleum revenues were well spent here. “I know the current pipeline is part of a project involving the World Bank and Esso,” said Dou Lirong, the general manager of C.N.P.C. International in Chad, calling the authority over revenues “a very complicated” matter. “I don’t know too much about it,” Mr. Dou continued, “but I’ve read a little bit on the Web.”

In fact, the very idea of the World Bank project is anathema to China’s deeply held noninterference policy, which has for decades governed China’s foreign policy and development. Underlying both is a kind of golden rule — China considers other countries meddling in its affairs unacceptable, and it assumes its friends feel the same way.

Cao Zhongming, deputy director of the Department of African Affairs, in the Chinese Foreign Ministry said: “China won’t interfere with Chad’s internal affairs. As a policy, that doesn’t change. If C.N.P.C., World Bank and Chad reach an agreement, it’s between them.” But, he added, if Chad does not accept the World Bank arrangement, “neither C.N.P.C. or the Chinese government would impose it.”

“The Chinese government,” he said, “won’t enforce something that Chad thinks interferes with their internal affairs.”

To China’s new African allies, this notion is a breath of fresh air. After years of hewing to the latest fads in international development doled out by the World Bank, the International Monetary Fund, Western donors and the United Nations, African governments have grown weary of the strings attached to foreign aid.

Thérèse Mekombe, vice chairwoman of the committee that monitors Chad’s oil money to make sure it is used properly, expressed surprise about the Chinese executive’s uncertainty about how oil revenues would be handled. Brandishing a copy of the law, she said all of the country’s oil earnings fell under the control of the World Bank arrangement. “The Chinese need to understand that they cannot arrive in a country and just impose their way of thinking,” Ms. Mekombe said.

A ‘Win-Win’ Business Plan

Chinese officials almost invariably describe their relationship with African countries as a win-win — based on mutual respect, aimed at joint prosperity and free of the overtones of exploitation and paternalism that critics worldwide say have governed much of the West’s postcolonial relationship with Africa.

China plans to build a petroleum refinery and a cement factory in Chad, both desperately needed in a landlocked country forced to import basic goods. Indeed, lowering gas and cement prices, which are among the highest in Africa, could do more to reduce poverty than the efforts of the World Bank and other donors combined, Mr. Dou suggested. “We can make a contribution to Chad,” he said.

Asked for an example of what win-win relationships look like, Mr. Dou offered what might seem an unlikely choice: Sudan. In its capital, Khartoum, he said, signs of China’s impact are everywhere.

“If you go to Sudan, you see paved roads,” he said. In the past, “the cars in Sudan had no turn signals, they point directions by hand. Now there are many good cars.”

Asked whether the oil money was really benefiting the Sudanese people, not just their rulers, Mr. Dou replied: “It is difficult for me to say. I am an engineer.”

To some critics, the answer is clear. “China’s no-strings-attached approach is problematic, particularly if its effect, if not its intent, is to undermine others’ efforts to change situations on the ground,” said Kenneth Roth, executive director of Human Rights Watch. “Often what is happening,” he added, “is underwriting of repression.”

Few Benefits for the People

Even with binding arrangements governing the use of oil revenues, Chad’s people have largely missed out.

In the Mayo-Kébbi region, where much of China’s feverish oil exploration is happening, the city of Bongor hardly looks like the capital of the booming oil region it is set to become. Along its tree-fringed main avenue, the briskest business is preparing the city’s signature dish — a chicken so scrawny it can be grilled whole in a few minutes.

At the lone hospital, a moldering colonial-era structure, a handful of workers tended to dozens of patients suffering from the classic ailments of poverty: hunger, diarrhea, malaria, tuberculosis, AIDS, pneumonia. Civil servants were on strike, seeking to force the government, which according to World Bank estimates will collect $1.2 billion in oil money this year, to increase their meager salaries.

Pauline Maratangou, a 53-year-old midwife, did show up to work, and it was a good thing. Half a dozen pregnant women with bellies fit to burst patiently awaited her services.

“Vas-y, vas-y, vas-y!” she cooed, urging an 18-year-old mother to push. The maternity ward had only a padded bench for deliveries and no stirrups. The floors and walls were caked with dirt — the orderlies were on strike. Ms. Maratangou worked with quick, efficient motions, pouring iodine over the crown of the baby’s head as it emerged, trying to keep mother and child free of infection.

At last a little boy popped out, his head slightly misshapen, like a peanut shell.

“Ah, he’s a handsome boy,” she said, holding him aloft, feet first, waiting for his first bellowing cries. There was only time to snip his umbilical cord, weigh him — five and a half pounds, not too bad for this part of the world — and swaddle him in rags before the next mother, also 18, was ready to hop on the table still slick with afterbirth slime.

The grim conditions help explain why Chad has among the highest maternal and infant mortality rates in the world. One of every five children will die before age 5.

“We hear that our country has oil, but we see no evidence of it here,” said Ms. Maratangou, the midwife.

Officials in Bongor say money from Chinese investments could fix schools and hospitals, or provide jobs and new roads. Under Chadian law, 5 percent of the oil revenue is supposed to go back to the community where the oil was drilled.

“We have very high hopes,” said Khalifa Malloum, the secretary general of Bongor’s regional government. “If the West does not want to invest in us, let the Chinese come. We welcome them. They don’t tell us what to do and they bring development. They are good partners.”

But Limassou Saleh, a community organizer in Bongor, said he was deeply skeptical. “Chad is maybe the most corrupt country in the world,” Mr. Saleh said. “We have a long history of human rights violations, of lack of transparency, of exploitation. China has a reputation for corruption. They are one of the worst human rights abusers. They have no record of transparency. What would we want with a country like that? Only to make our own problems worse.”

http://www.nytimes.com/2007/08/13/world/africa/13chinaafrica.html

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Oil and gas exploration licenses have been put on hold until the end of December 2007 because the current laws are of a lower design than those prevalent to similar nations on the global scale where such prospects are carried out.

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According to media reports issued in Lusaka this week, Minister of Mines and Mineral Development, Dr. Kalombo Mwansa disclosed that the 1995 Petroleum Act was too weak to handle current exploration prospects thus the need to draw up policies and guidelines to facilitate oil and gas exploration by private companies. 

The first-ever reserves of oil and gas whose microbial analysis showed that 12 sites were positive for oil and six for gas have been discovered in Zambia near the border with Angola. The exploration was initially started in 2004 after prolonged fires that affected the areas, which prompted the government to launch an investigation.  

Zambia‘s northwestern region is becoming the country’s economic mainstay after the recent huge foreign investment at Lumwana Mines, which has one of the world’s largest reserves of copper ore. Lumwana also has a higher grade of uranium than initially thought. Other precious metals at Lumwana include large reserves of gold as well as cobalt.

Should all go as anticipated, the Zambian Enterprise will be set on a path to economic prosperity similar to what the United States of America experienced soon after the Great Depression. Our economy is slated to have exponential inexorableness similar to no other in Africa.

Dr. Mwansa who is also head of the special cabinet committee appointed by the president to oversee these drafts has been doing a fabulous job at the ministry and deserves some kudos from our team at the Zambian Chronicle; Britain, Russia and United States of America have shown interest in prospecting for oil and gas … thanks a trillion

Brainwave R Mumba, Sr.

CEO & President – Zambian Chronicle

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