An Economist has advised the government not to sale 20 percent stake in First Quantum Minerals (FQM) for US$700 Million.
First Quantum Minerals has reportedly offered to buy Government’s 20 percent shares stake in the mine for US$700 million.
Noel Nkhoma tells Money FM News by telephone that Zambia is not desperate to forego that mining asset for US$700 million.
Mr. Nkhoma says for FQM to offer to buy that government’s stake, it means they have seen value in the asset and will be able to return whatever they have spent soon.
He says the government should hold on to that mining asset because of its value and that FQM pays dividend to the state.
“For QFM to be able to offer the Zambian Government US$700 million for its 20 percent stake in the mine, it means the mine firm has seen very high value in that mining operation. So that US$700 million may look attractive now but we are not in a desperate situation to forego that asset at that much,” he said.
Mr. Nkhoma, who also former Economic Association of Zambia President, says the government should hold on to that asset and not selling its stake in FQM.

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