The Zambian government warned Saturday that it will repossess the idle mines from investors.

Mines and Minerals Minister Kalombo Mwansa issued the warning in Copperbelt province, saying that some investors are holding pieces of mines only for prestige.

The minister told the investors to use it or lose it.

Meanwhile Zambia Daily Mail Saturday quoted the country's Finance Minister Ng' andu Magande as saying that his country will review most agreements with investors in the mining sector following the copper price hike in international market and the appreciation of local currency kwacha against U.S. dollars.

Magande said the government would soon negotiate an increase of mining royalties.

The southern African country is the fourth biggest copper- producing country in the world. Its peak annual output reached 700, 000 tons in mid 1970s and then dropped gradually to 300,000 tons in 1990s.

To reverse the situation it started privatization of its copper mines in 1996 by selling most of the mines to foreign companies.

In recent years due to more foreign investment, good management and advanced technology and increased prices in the international market its output has gradually picked up to 450,000 tons in 2005 and is expected to rise to 700,000 tons in 2008.

Source: Xinhua