The election of Michael Sata to president of Zambia is not sitting well with copper miners who fear the 73-year-old, known as “King Cobra” for his aggressive style, will pick the pockets of mining companies, Bloomberg reports.
Among the foreign companies with copper interests in Zambia are Vancouver-based First Quantum Minerals; Glencore International Plc; London-based Vedanta Resources Plc; and Barrick Gold, which owns Lumwana Mine, Africa’s largest copper mine, through its acquisition earlier this year of Equinox Minerals Ltd.
See http://www.mining.com/2011/09/23/copper-miners-in-zambia-fearful-of-king-cobra/.