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Matero Reforms of 1969: Difference between revisions
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Roan Selection Trust became Roan Consolidated Copper Mines (RCM), comprising [[Mufurila]], [[Luanshya]], [[Chibuluma]], [[Chambishi]], [[Kalengwa]], and [[Ndola Copper Refinery]]. The Zambian arm of Anglo American Corporation became [[Nchanga Consolidated Copper Mines]] ([[NCCM]]) and was in charge of [[Rhokana Mine|Rhokana]], [[Nchanga Mine|Nchanga]], and [[Konkola Mine|Konkola]] mines. | Roan Selection Trust became Roan Consolidated Copper Mines (RCM), comprising [[Mufurila]], [[Luanshya]], [[Chibuluma]], [[Chambishi]], [[Kalengwa]], and [[Ndola Copper Refinery]]. The Zambian arm of Anglo American Corporation became [[Nchanga Consolidated Copper Mines]] ([[NCCM]]) and was in charge of [[Rhokana Mine|Rhokana]], [[Nchanga Mine|Nchanga]], and [[Konkola Mine|Konkola]] mines. | ||
The Matero reforms were implemented in January 1970 | |||
and the government was to pay for those shares over a | The Matero reforms were implemented in January 1970 and the government was to pay for those shares over a period of roughly 10 years (SARPN, 2015). However, in 1973, the government decided to redeem all the outstanding bonds and made the following changes in the management structure. MINDECO was no longer in charge of RCM and NCCM, but other small mines in the country. INDECO, MINDECO, RCM, and NCCM all fell under the management of an overarching parastatal Zambia Industrial and Mining Corporation (ZIMCO). All the managing directors of RCM and NCCM as well as the chairman of ZIMCO were political | ||
period of roughly 10 years (SARPN, 2015). However, in | appointees. The [[Minister of Mines]] was the chairman of RCM, NCCM, and ZIMCO. In the same year, the country changed its constitution and became a [[one-party state]].<ref>[http://www.scielo.org.za/pdf/jsaimm/v116n6/03.pdf Copper mining in Zambia - history and future by J. Sikamo, A. Mwanza, and C. Mweemba]</ref> | ||
1973, the government decided to redeem all the outstanding | |||
bonds and made the following changes in the management | |||
structure. MINDECO was no longer in charge of RCM and | |||
NCCM, but other small mines in the country. INDECO, | |||
MINDECO, RCM, and NCCM all fell under the management of | |||
an overarching parastatal Zambia Industrial and Mining | |||
Corporation (ZIMCO). All the managing directors of RCM and | |||
NCCM as well as the chairman of ZIMCO were political | |||
appointees. The Minister of Mines was the chairman of RCM, | |||
NCCM, and ZIMCO. In the same year, the country changed its | |||
constitution and became a one-party state.<ref>[http://www.scielo.org.za/pdf/jsaimm/v116n6/03.pdf Copper mining in Zambia - history and future by J. Sikamo, A. Mwanza, and C. Mweemba]</ref> | |||
==See also== | ==See also== | ||
