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FINANCIAL and banking expert Makesa Kalifungwa says Cabinet’s decision to do away with the 2015 mining tax speaks volumes about the lack of direction and policy inconsistencies of the PF government. Last month, President Edgar Lungu directed finance minister Alexander Chikwanda and his mines counterpart Christopher Yaluma to review the …
Read More »Berkeley shifts gears on Kabwe processing plant
London-listed Berkeley Mineral Resources (BMR) has scrapped the definitive feasibility study- (DFS-) recommended multispiral gravity separation in favour of leach processing for its Kabwe project’s pilot plant, in Zambia. The shift in methodology for the recovery of zinc and lead from the washplant tailings (WPT) and leach plant residue …
Read More »HH speaks out on mine royalty tax
By Obert Simwanza Zambia’s leading opposition figure Hakainde Hichilema has asked the government to collect what is currently owned by mining investors before seeking to change the taxation system. Hichilema, who leads the largest opposition party – United Party for National Development (UPND) said the government should collect what …
Read More »Zambia backs down over mineral tax
By Hicks Sikazwe Government has backed down over the controversial eight and 20 percent mineral tax effected in January after concerted pressure from mine owners. Following an order by President Edgar Lungu on March 28 to the Ministry of Finance and Mines, Cabinet on Monday approved the changes to the …
Read More »Triton Minerals establishes strategic alliance to explore graphite in Mozambique
Australian company Triton Minerals has signed an agreement to establish a strategic alliance for Mozambique with the AMG Mining AG group through its subsidiary GK Ancuabe Graphite Mine, the company said in a statement issued Tuesday. The strategic alliance has an initial validity of two years, during which the parties will …
Read More »Barrick will not pull out of Lumwana
Barrick Gold Corporation of Canada will after all not pull out from Lumwana in Solwezi Northwestern province following government decision to review the 2015 mineral tax. According to mining.com, “Barrack will continue operations at its Lumwana copper mine in Zambia while the government tweaks a new royalty regime.” Last week …
Read More »DRC Congo copper lead over Zambia
Zambia’s neighbour, the Democratic Republic of the Congo, formerly Zaire is a vast mineral rich country and one of the world’s wealthiest, yet its population wallows in unimaginable squalor of poverty. The Central African nation is host to a variety of minerals such as, Diamonds, Gold, Coltan (vital material for …
Read More »Rival unions toast review of Zambia’s mineral tax
It is rare that Zambia’s rival unions representing miners in the country agree to eat from the same table though they belong and represent on industry. But over government move to review the 2015 mineral royalties’ tax, the Mine Workers Union of Zambia (MUZ) and its opponent the National Union …
Read More »Aurecon clinches US 200m Zesco power upgrade contract
Zambia Electricity Supply Corporation (ZESCO) has awarded Aurecon a $200m contract to provide engineering, design and construction supervision services. The World Bank funded project will improve Transmission and Distribution Rehabilitation in Lusaka.The Zambia capital is regarded as the second fastest growing city in Africa. Its electricity demand has grown at …
Read More »New mineral tax under review
Government is to review the mineral tax, if possible defer the implementation of the controversial 2015 increase. President Lungu ha since directed the ministries of Finance and Mines respectively to ensure changes are effected by April 8 to forestall a possible crisis in the mining sector. Last year mineral tax …
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