Yamfwa Mukanga, Zambian mines minister

Zambia hikes mine licence fees to global levels

Zambia has managed to increase the cost of its mining licences in order to bring them in line with other countries, stated Minister of Mines, Energy and Water Development, Yamfwa Mukanga.

The fees for large-scale mining and change of control licences has been increased to 28 800 kwacha from 1 800 kwacha with immediate effect from this month. The increase is also expected to deter speculators from buying land in Africa’s top copper producer.”We want to ensure that only serious investors get these licences,” Mukanga said.

Foreign mining companies operating in Zambia include Canada’s First Quantum Minerals, London-listed Vedanta Resources, Barrick and Glencore of Switzerland.

 

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