The southern African country of Zambia is ready to start issuing licenses for uranium mining, dpa quoted Mines minister Maxwell Mwale as announcing on state radio Today. The mineral-rich country, which is Africa's largest copper producer, has discovered huge deposits of uranium but mining was initially delayed due to weak legislation. The International Atomic Energy Agency (IAEA) nuclear watchdog sets out strict conditions on uranium mining, including legislation for extraction, storage and transportation of the mineral. Zambia's mines ministry says it has now met the IAEA requirements. The resurgence of global interest in nuclear energy has led a fresh scramble in recent years for uranium, a key ingredient in the production of nuclear fuel. Uranium deposits have been discovered in several southern African countries. Uranium mining offers hope of a boost to Zambia's economy, which has been squeezed by falling demand and prices for copper caused by the global economic slowdown. The central bank has revised its GDP growth forecast for this year from 6 per cent to 4 per cent at the start of the year. A number of foreign firms have expressed interest in mining uranium in Zambia. Australia's Equinox Minerals, which has just commissioned the largest open-pit copper mine in Africa in Zambia, has also announced large uranium deposits at its mine in North-Western province.
