Rhodesia and Nyasaland pound British colonies. In the second half of 1964, Nyasaland became independent as Malawi, Northern Rhodesia became independent as Zambia, and Southern Rhodesia declared a name change to Rhodesia. Each issued their own pounds, at par with the Rhodesia and Nyasaland pound. See Malawian pound, Zambian pound and Rhodesian pound. The Federation also issued its own coinage. In 1955 a full new set of coins were issued with the Mary Gillick obverse of the Queen and various African animals on the reverse. The denominations followed those of sterling, namely halfpennies and pennies, which had a hole in them, threepences (known as
Northern Rhodesia cattle farming in Barotseland, but Northern Rhodesia had attracted little white settlement, in contrast to its southern neighbour. Unlike Southern Rhodesia, which had seen a flood of fortune-seeking prospectors seeking to set up independent mines, Northern Rhodesia's mining policy was to agree large-scale deals with major commercial mining companies. Large-scale mining on the Northern Rhodesian Copperbelt started after 1924 and was mainly financed from the United States of America and South Africa. Chester Beatty's and Sir Edmund Davis's Selection Trust already had an interest in the fairly small Bwana Mkubwa copper mine, which had opened in 1901 on the site