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Mines in US$500 million windfall?

Zambia, Africa’s leader in copper production may refund mining companies over US$500 disputed repayments in Value Added Tax (VAT) over a staggered period; the post reported citing finance minister Alexander Chikwanda. Earlier reports by Bloomberg News say the Zambia Revenue Authority had last year stopped tax repayments to mines that …

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Mopani Copper Mines’ revenue up 18 percent

Revenue for Mopani Copper Mines, a unit of Switzerland based commodity trader, Glencore Xstrata rose 18 percent by December last year as copper sales rose, the company says. In a report for the 12 months period to December 31 last year, Mopani Copper Mines, Zambia’s second leading producer of copper …

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Tanzania’s mining industry seeks to diversify to maximize profits

Tanzania, renowned for gold production seeks to diversify from the mining industry’s over-dependence of gold business into other minerals in the market such as coal, nickel and uranium to maximize on its direct foreign investment in the Eastern African State, a report said. The British market intelligence firm, Business Monitor …

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Zimbabwe’s platinum mine faces fall in production

Bimha mine, Zimbabwe’s leading platinum producers dropped production of the metal by 50 percent recently after a major collapse occurred underground in Zimplats, Ambriefonline reported. The collapse art one of the operations underground cist the company 50 percent of the total metal production. The report did not elaborate when the …

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