New Zambia president halts all copper exports

Zambian President Michael Sata has halted all metal exports from the copper-rich state until new rules are put in place, in another shake-up by the new leader, according to documents seen Thursday by AFP.

"All current permits issued by my ministry are immediately suspended pending issuance of new guidelines by the government," mines ministry permanent secretary Godwin Beene said in a circular to all mining firms in Zambia.

Beene said new rules on metal exports should be ready by October 16.

As Africa's largest copper producer, the metal is the state's main export earner, but cobalt, lead, gold, silver and emeralds are also mined.

Since taking office on September 23, after defeating incumbent Rupiah Banda in presidential elections, Sata has wasted little time in upending the top levels of government which the Movement for Multiparty Democracy had run for the last 20 years.

On Monday, Sata canceled a $5.6-million sale of a private bank to South Africa's First Rand.

He has also removed the respected Bank of Zambia governor Caleb Fundanga, unsettling the financial sector, and named a new director for the national power utility ZESCO