Zambian Mining News The Premium Source of Information on The Zambian Mining Industry

MINES minister Christopher Yaluma says the anticipated K2.3 billion revenue loss from the reversed 2015 mining tax regime is ‘not real’.    The government expects a revenue loss of about K2.3 billion from its decision to reverse the 2015 mining tax regime to the double-tier system. Cabinet recently agreed to …

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 …

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 …

LUSAKA – Barrick Gold Corp, the world’s biggest gold producer, said on Thursday it will not suspend operations at its Lumwana open-pit copper mine in Zambia now that the country’s government has reduced mining royalties.Zambia’s cabinet set the royalty tax rate for open-pit and underground mining at 9% on Monday. The corporate income …

LUSAKA – Zambia’s fiscal deficit will exceed the targeted 4.6% of gross domestic product in 2015 due to weaker copper prices and changes to the mining tax regime, a senior Treasury official said on Friday. Mike Masiye, the director of budget in the ministry of finance, said copper prices had collapsed …