During a media briefing in Lusaka, Barrick Gold Corporation made a clear pronouncement that speculations about the company’s intention to sell Lumwana Copper Mine are false.
The Chief Executive Officer and President of Barrick Gold Corporation, Mark Bristow rather highlighted its eagerness to continue engaging with the government at how best the 2019 fiscal regime can be addressed especially with the newly appointed Minister of Finance Bwalya Ng’andu.
Bristow says his firm has had constructive consultations with the government and is hopeful that a lower standard rate may be considered for Lumwana Copper Mine since it does not produce high grade quality of copper as compared to other mining companies in the country.
“Lumwana is a low-grade mining company which is why it is important to further engage with the government in how the new fiscal regime can affect the low-grade miners,” added Bristow.
Bristow further added that though the mine company is still owed over 60million dollars of tax refunds,it has appealed to the government to put a waiver on importation of concentrates.
“The Zambian economy and infrastructure is one of the best in Africa and government has the right to benefit from the economic gain in Lumwana because it owns the mine on behalf of Zambians.”