Zambian Mining News The Premium Source of Information on The Zambian Mining Industry
THE Kwacha is expected to gain against the United States (US) dollar due to inflows of the greenback on the market, Zanaco Bank says.In its daily treasury newsletter, the bank says the local unit was yesterday anticipated to trade in the range of K7.30 and K7.45 against the dollar in the …
Read More »Revised mineral royalty tax hailed
By Obert Simwanza THE Zambia Chamber of Mines is elated by the government’s decision to peg the mineral royalty tax at nine per cent from the proposed 20 per cent in the 2015 national budget. The adjustment in the taxes is expected to end the long stand controversy between mining investors …
Read More »KCM AND PEPZ TO BROADEN LOCAL ACCESS TO MINING SUPPLY CHAIN
LUSAKA, ZAMBIA – One of Africa’s largest copper mining companies, Konkola Copper Mines (KCM) has joined with the Private Enterprise Programme Zambia (PEP-Z) to explore ways to include more local entrepreneurs in its supply chain. The two signed a Memorandum of Understanding (MoU) today, in which both organisations agreed to further …
Read More »Power outages disrupt Zambian mine operations
By Hicks Sikazwe Mining operations on the Copperbelt were severely hit and disrupted by power outages caused by suspected faults at zesco substations in Kitwe and Luano. The supply that ceased around 19 hours on Monday running through to Tuesday has left after effects in the country’s key foreign exchange …
Read More »Adapt to local culture, Chinese investors urged
By Hicks Sikazwe Collum coal mine in Sinazeze, Southern province shut in 2013 for poor safety standards has been opened with a warning to Chinese management to adapt to local culture to avoid conflict. President Edgar Lungu threatened government would withdraw the operating license if the firm did not comply …
Read More »‘Changes to mining taxes to affect 2015 Budget’
By Obert Simwanza The Zambia Council for Social Development (ZCSD) has said that the proposed amendments to the controversial mining taxes will adversely affect the estimated revenue from the 2015 national budget. ZCSD executive director Lewis Mwape said that his organisation had maintained that the 2015 budget was a disaster …
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 »Struggling Zambia’s copper economy: The need to diversify
The turbulence copper, Zambia’s foreign exchange earner, has found itself in, sounds an alarm for the urgent need for the country to enhance policies and programmes that will help to move away from this metal economic over reliance. Those born before independence in 1964 and shortly after will never forget …
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 »