The new rules only apply to future payments and not amounts already owed.
The situation may soon change, as authorities have began talks with the country’s top miners, signalling the possibility of a compromise over the country’s new tax regime.
The 56 year old who built Xstrata into one of the world’s biggest mining firms and then sold it to Glencore, is tipped to be on the verge of landing his first big fish.
Report shows there are 39 assets in production within the Ebola-affected region.
The miner beat estimates after logging a 16% jump in Q3 nickel production, taking total output of the metal this year to 201,400 metric tons.
The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.
The miner, Zambia's largest foreign investor, operates Kansanshi mine, the eighth largest copper mine in the world, as well as the country's biggest.
Underground mining royalties will go up from 6% to 8%; underground taxes now 20%.
Zambia’s mines minister says the company has not officially communicated the government its intentions as required under the country's law.
The company is cutting 169 jobs at the mine.
Deutsche Bank warned Friday that gold producers are the most vulnerable to a further spread of the deadly disease.
The standoff marks a major setback for the miner, which is in the process of upgrading its copper assets in Zambia hoping to increase output by at least 50% by 2017.
The business group argues the sector must be nurtured to generate the revenues needed for the country’s economic diversification.
Shanghai Metals Market warns slim profits and continuous declines in steel prices have dampened Chinese mills’ appetite for iron ore.
Rule requiring exporters to produce import certificates from destination countries in order to claim tax refunds will be waived beginning Sept. 8.
Following a meeting with BHP’s China boss, Beijing issued a statement saying it believed that “BHP and other iron ore suppliers should avoid abusing dominant market positions."
There’s a death match among iron ore producers, with the big Australian miners and Brazil's Vale increasing pressure on their high-cost Chinese rivals.
Good news for the country's copper miners that have been seeking more than $600 million in unpaid tax refunds.
The project is considered vital for Vale as the miner has been losing market share to Rio Tinto and BHP Biliton.
Tighter border controls are set to disrupt the flow of essential supplies and even workers trying to get to work at the African country's mining operations, companies say.
After the WHO declared the current outbreak an “international public health emergency.”
Write-downs also hurt bottom line, yet production robust.
Cuts will occur because the sector is switching from the job-heavy construction stage to the operational phase, which requires fewer workers.
The country's mining industry has lost 6,600 workers in the three months to May.
Vale said the tribe wants to modify an agreement to mitigate the mine's impact on its community's development.
The Japanese firm is said to be looking to either acquire the project, or restart it as partner of Vale.
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