Not my mantra, but those of the mining companies that appear to be overjoyed with the election of Rupiah Banda. According to the National Post, many see the the election of Rupiah Banda as potentially good news for mining companies like First Quantum Minerals Ltd. (FM/TSX) and Equinox Minerals Ltd. (EQN/TSX). In the words of Greg Barnes : "It appears that the onerous tax rates enacted into legislation in Zambia earlier this year are likely to be significantly watered down. And this should enable the country's copper producers to regain a stable economic footing.." Which got me thinking, I never really heard RB say anything during the compaign about the fiscal regime. Could it be that the mining companies know something that we don't?
Wednesday, 5 November 2008
2 comments:
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Most certainly, as secrecy has always been MMD's preferred method of doing business. Whatever happened to FTJ's "Transparency" buzzword during the 1991 elections?
ReplyDeleteSurely the opposition should have had some intelligence on these deals and should have pressed govt on it, if they really had people's interests at heart.
I think we need more whistle blowers in Zambia...
The problem we have in Zambia is twofold: while the government is incomptent, the opposition is led by cadres. The two add up to zero sum. Sata's PF and even HH's UPND oppose not as governments in waiting but as movements driven only by the desire to get to Plot1 for the purpose of having a chance to distribute jobs to friends and relatives. Government lacks intelligent plans, which is made worse by oppositions lack of brains in their midist. Consequently the country is moving on auto pilot. When you don't have an intelligent driver, inevitably you end up crashing.
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