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 Periodical article |
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| Title: | The mining multinationals and the Zambian economy |
| Author: | Okafor, F.O.E. |
| Year: | 1990 |
| Periodical: | The African Review: A Journal of African Politics, Development and International Affairs |
| Volume: | 17 |
| Issue: | 1-2 |
| Pages: | 66-79 |
| Language: | English |
| Notes: | biblio. refs. |
| Geographic terms: | Zambia Central Africa |
| Subjects: | multinational enterprises nationalization mining copper industry Economics, Commerce Mines and mineral resources economic development Copper |
| Abstract: | The copper industry has a dominant position in the economy of Zambia. Until 1969-1970, the Zambian copper industry was controlled by two multinational corporations - the Anglo-American Corporation Group producing c. 52 percent of Zambia's copper, and the Roan Selection Trust Group, which produced the remaining 48 percent. Through their control of the copper industry, these two corporations had much power over the State. This paper is concerned with the balance of power between the Zambian State and the multinationals in the period after independence in 1964. In the early postindependence period, there was no real attempt to challenge the pattern of ownership of the mining industry. However, Zambia's economic dependence on the white-ruled States of southern Africa was considerable, and her principled stance against the illegal regime in Rhodesia and apartheid in South Africa in part explains Zambia's lack of progress on other issues in relation to the economy and public ownership. In 1968 a series of reforms affecting expatriate enterprises was announced, and in 1970 the mining companies were partly nationalized. After 1970, Zambia'a economic problems tended to get worse, amongst others, as a result of a fall in the price of copper. Presently, Zambia seems to have gained control of the now dubious prize of the copper industry, but is so tied up with indebtedness that 'complete economic independence' seems to be far away. Notes, ref. |
