News

As could be expected, the Zambian government’s recent raising of mining royalties – replacing the 30% corporate income tax on mines – has been the focus of much media attention. However, little of this coverage has touched on the essential issue of building a more constructive relationship between mining companies …

MINE suppliers and contractors have warned mining companies against using the new tax regime to penalise them. Mines Suppliers and Contractors’ Association president, Augustine Mubanga, said the new tax regime should not be used as an excuse to delay payment as well as discard local suppliers and contractors. The Chamber …

Further cutbacks and overall production stagnation are anticipated in Zambia’s mining industry in 2015 if global copper prices do not recover, says a latest Standard Chartered research report. According to Standard Chartered’s On the Ground report following the 2015 mining indaba held in Cape Town last month, Zambia’s new royalty …

At least $14.5 million has been realized at the seventh Kagem local auction of precious stones held in Lusaka last month, Gemfields, has announced. Chief Executive Officer Mr. Ian Harebottle said the stones auctioned were of lower quality rough emerald and Beryl from Kagem mine in Ndola rural. “”We’ve set …

The Jesuit Centre for Theological Reflection says government lacks the fiscal discipline required to manage VAT refunds to mining companies and other exporters. Last Thursday, finance minister Alexander Chikwanda announced in Parliament that the government had realigned the provisions of VAT Rule 18 on proof of export requirements to ensure …

FIRST Quantum Minerals says the mining fiscal regime will put the company’s ability to meet various debt financing obligations at risk, which would curtail expansion programmes and halt further investment. And FQM, the owners of Kansanshi Mine in Solwezi, has recorded a decrease in gross profits for the 2014 financial …

ZEMA has deferred the approval of KCM’s slag dump project because the mining giant has failed to provide information on radioactive materials associated with the project. And the Zambia Environmental Management Agency has approved 43 projects, deferred 13 in mining and quarry-related projects and rejected two project proposals. In a …

“THE revised mines and minerals Act will guarantee participation of Zambians in mining”, says mines minister Christopher Yaluma. Yamula plans to present the revised law to Parliament, which resumes its sitting today.“We have concluded everything and it will be tabled before Parliament,” he said. The revised law was due to be presented …

THE Jesuit Centre for Theological Reflection has called for good leadership and consistent economic policy from the new government over mine taxes.JCTR stated that leadership exhibited on the impasse surrounding the new mining tax regime does not inspire confidence and is a source of concern. JCTR wondered if the new …

NATIONAL Council for Construction executive director Charles Mushota says the government should this year award more contracts to local contractors in the road sector to help salvage the falling kwacha. And Mushota says the National Council for Construction (NCC) has this year put aside K8 million for 21 training programmes …