ZAMBIA

A four-hour power cut hit Zambia's capital and main mining region on Wednesday, although it was not clear what if any impact there was on output from Africa's biggest copper producer.

Chinese mining companies in Zambia, Africa's biggest copper producer, are routinely flouting laws designed to protect workers' safety and the right to organise, Human Rights Watch (HRW) said on Thursday.

Abuse of Zambian workers is widespread in mines owned by Chinese companies, according to a new report from Human Rights Watch.

Zambia's central bank slashed its reserve ratios on Tuesday to cut the cost of borrowing for commercial banks and consumers in a bid to stimulate economic growth in Africa's biggest copper producer.

For the small club of companies who trade the food, fuels and metals that keep the world running, the last decade has been sensational. Driven by the rise of Brazil, China, India and other fast-growing economies, the global commodities boom has turbocharged profits at the world's biggest trading houses.

Zambia has suspended the issuance of new mining licences to root out potential corruption and clean up the process, the mines minister in Africa's top copper producer said on Thursday.

Zambia's new President Michael Sata announced plans to overhaul the constitution on Friday, the latest step in his top-to-bottom review of the way Africa's top copper producer is run.

Swiss investment bank UBS disclosed Friday its top 10 commodity stock picks, all of which fall into one of four categories, thermal coal, iron ore, gold and merger and acquisition opportunities.

Zambians striking over poor pay at Chinese mines went back to work on Monday after winning a nearly 100 percent pay rise, just over two weeks after a new president took office on the promise of improving mining conditions.

Zambia has lifted a ban on metal exports, just two days after imposing it to sort out irregularities and increase transparency in Africa's top cooper producer, a minerals ministry official said on Thursday.

South Africa and Zambia have approved the $1.1 billion bid by China's Jinchuan Group for copper and cobalt producer Metorex, bringing closer prospects for the deal to be finalised by November.

New Zambian President Michael Sata launched a probe on Friday into last year's sale of telecoms operator Zamtel and vowed to keep a close eye on copper exports, while finance minister Alexander Chikwanda told banks to cut interest rates.

New Zambian President Michael Sata fired his respected central bank governor on Thursday and his new mines minister floated plans to boost tax receipts from mining companies, rattling investors in Africa's biggest copper producer.

Africa is starting to appear on the radar screens of western retailers as they look for the next growth opportunity in emerging markets while having to cope with subdued consumer spending at home.

Zambian opposition leader Michael Sata, a critic of Chinese investment, was sworn in as president on Friday after an upset poll victory that ushered in a smooth handover of power in Africa's biggest copper producer.

Banda conceded to Sata on Friday, ending three days of riots and protesting. The presidential vote was held nationwide on Tuesday, but the government had been slow to tally the votes, a fact which angered eager Zambians.

Sata has long complained about undue Chinese influence upon the Zambian economy and political life.

Zambia's opposition leader Michael Sata held on to his lead over incumbent Rupiah Banda, the election commission said, as counting moved beyond a halfway point on Thursday in the race to become the next president of Africa's biggest copper producer.

After 85 of 150 voting districts have been tallied, Sata leads the race with 43 percent of the vote, compared to President Banda's 36 percent. However, Banda still leads in the most recent opinion polls.

Youths went on the rampage on Thursday in northern Zambia's Copper Belt, a stronghold of opposition leader Michael Sata who is leading the race to become the next president of Africa's biggest copper producer.

Zambia held presidential elections Tuesday, but two days later only 85 of the country's 150 constituencies have reported results, sparking wide-scale unrest in the country and again bringing up fraud allegations. While all eyes are on Zambia, one nation's gaze is especially fixed: China.