LUSAKA Feb 22 Zambia has increased the cost of
its mining licences in order to bring them in line with other
countries, its mines minister said on Friday.
The fees for large-scale mining and change of control
licences have been increased to 28,800 kwacha ($5,400) from
1,800 kwacha ($340) from this month, Yamfwa Mukanga said in a
The increase is also expected to deter speculators from
buying land in Africa's top copper producer.
"We want to ensure that only serious investors get these
licences," Mukanga said.
Foreign mining companies operating in Zambia include
Canada's First Quantum Minerals, London-listed Vedanta
Resources and Glencore of Switzerland.