Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
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 »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 »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 …
Read More »Chamber of Mines, manufacturers join hands over equipment
The source of mining equipment continues to be a concern in Zambia especially now with the fall in the value of the Kwacha, the local currency, against the US dollar. Other than those suppliers to the industries have also complained of a drop in contracts fearing that many of them …
Read More »Mines seek return to old tax regime
MINING companies want the 2015 mining fiscal regime abolished and a shift back to the double tier taxation system. And independent economic consultant Professor Oliver Saasa has wondered why finance minister Alexander Chikwanda and his mines counterpart, Christopher Yaluma, had to wait for presidential directive over a tax regime that …
Read More »Chamber of Mines, manufacturers join hands over equipment
By Hicks Sikazwe The source of mining equipment continues to be a concern in Zambia especially now with the fall in the value of the Kwacha, the local currency, against the US dollar. Other than those suppliers to the industries have also complained of a drop in contracts fearing that …
Read More »New mineral tax under review
By Hicks Sikazwe 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 …
Read More »Mines still required to produce export documentation – ZRA
ZAMBIA Revenue Authority commissioner general Berlin Msiska says mining companies pushing for the accumulated VAT refunds will still have to produce export documentation because “law is law”. Last month, the government relaxed its rules on the documentation mining exporters need to claim tax refunds. The row over how mining companies …
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