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Glencore pays $1.3bn to SA government in 2019

Diversified miner Glencore made payments of $7.7-billion to the governments of countries in which it operates in 2019. This includes $96.6-million paid to the South African government in taxes, royalties and other payments. It paid Argentina $21.6-million, Australia $1.6-billion, Bolivia $10.9-million, Cameroon $5.3-million, Canada $51.4-million, Chad $88.6-million, Chile $235.6-million, Colombia …

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ZCCM-IH and NDOLA LIME

I have learnt that ZCCM-IH has decided to dissolve Ndola Lime and form a New Company out of the assets called Limestone Resources. Ndola Lime was practically insolvent; it had liabilities of more than K1bn (accumulated over the last 8 years). This is a company at its best was bringing …

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Zambian Ministry of Mines on warpath against undervaluation of minerals

The Zambian mines ministry has disclosed that mineral exporters deliberately submit low-grade samples to the state laboratory, causing an undervaluation of mineral exports and depriving the government of mineral royalty tax revenue. Mines ministry officials said starting next month, it will personally collect samples from mine sites around the country …

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Ndola Lime retrenches all employees

All Ndola Lime company employees are set to be jobless effective 31st July as the company reportedly issued an internal retrenchment notice. According to a source, a memorandum signed by the interim business rescue administrator, Stephen Bwalya, employees will receive letters of retrenchment together with computations of amounts due to …

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Govt tensions with power firm CEC bad for investment- Zambia Chamber of Mines

The Zambia Chamber of Commerce believes that the government’s attempt to force Copperbelt Energy Corp (CEC) to open up its infrastructure to other power producers has dented the country’s image as an investment destination. Energy Minister Matthew Nkhuwa issued a decree last Friday compelling CEC to allow others to transmit …

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