Zambia

Zambia to slash royalties, reinstate mining tax

Cecilia Jamasmie | June 24, 2015
Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

Zambia sells stake in state-owned copper miner

Cecilia Jamasmie | June 10, 2015
Zambia sells stake in state-owned copper miner

The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.

Zambia cuts mining royalties once again

Frik Els | June 5, 2015
Zambia cuts mining royalties once again

Underground mining royalties cut to 6% from 9%.

Zambia mulls cutting mining royalties even further

Cecilia Jamasmie | June 3, 2015
Zambia mulls cutting mining royalties even further

Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.

Zambian mines may lose four days’ copper output after power cuts

Bloomberg | April 28, 2015

Africa’s second-biggest copper producer, may lose as much as four days’ output of the metal after the country’s power grid went down on Monday, the mines chamber said.

Barrick changes plan to halt Zambia mine over royalties row

Reuters | April 23, 2015

Barrick Gold Corp. has backtracked on its decision to suspend operations at its Lumwana open pit copper mine in Zambia after the cabinet reduced mining royalties.

It’s official: Zambia scales back mining royalties to 9%

Cecilia Jamasmie | April 20, 2015
It’s official: Zambia scales back mining royalties to 9%

The announced changes will be effective on July 1, once parliament has approved them.

Zambia dumps mining royalty hike, settles at 9%

Cecilia Jamasmie | April 14, 2015
Zambia dumps mining royalty hike, settles at 9 percent

The government intends to set its mining royalties at 9% for both open-pit and underground mines.

Zambia goes after First Quantum over layoffs

Cecilia Jamasmie | April 3, 2015
Zambia goes after First Quantum over layoffs

Government claims it was not notified according to the law.

IMF in favour of Zambia mining tax changes

Cecilia Jamasmie | March 31, 2015
IMF in favour of Zambia mining tax changes

But the fund warned that only further tightening of fiscal and monetary polices would contain the country's large deficits.

Barrick to keep operating Zambia Lumwana mine

Frik Els | March 27, 2015
Barrick to keep operating Zambia Lumwana mine

Zambian government rethinking steep royalty hikes that went into effect on January 1.

Zambia eases tax rules, to start refund talks on a ‘company-by-company basis’

Cecilia Jamasmie | February 23, 2015
Zambia eases tax rules, to start refund talks on a ‘company-by-company basis’

The new rules only apply to future payments and not amounts already owed.

Zambia’s new leader to keep polemic mining tax

Cecilia Jamasmie | January 26, 2015
Zambia’s new leader to keep polemic mining tax

Newly elected President Edgar Lungu wants to keep mining royalties at 20%, as opposed to the 6% companies were paying a month ago.

Most copper producers in Zambia losing money — Chamber of Mines

Cecilia Jamasmie | January 19, 2015
Most copper producers in Zambia losing money — Chamber of Mines

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.

First Quantum kicks off operations at Zambian copper mine

Cecilia Jamasmie | December 31, 2014
First Quantum kicks off operations at Zambian copper mine

Despite the government announcement Tuesday that it will push ahead with plans to more than triple mining royalties.

Zambia won’t reverse mining royalty hike

Cecilia Jamasmie | December 30, 2014
Zambia won’t reverse mining royalty hike

Move will leave up to 12,000 jobless and it is likely to sour the already fractious relationship between the government and mining companies.

Barrick to halt Lumwana mine in Zambia after tax hike

Cecilia Jamasmie | December 18, 2014
Barrick to keep operating Zambia Lumwana mine

The Canadian giant had earlier said it would consider such a move in the event the new tax regime was approbed.

Zambia may be backing off 20% open pit mine royalty rate – Barrick

Zambia Post | November 2, 2014

There are indications Zambia may be backing away from plans to impose a 20 per cent royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday.

Mining firms urge cuts in Zambia's new royalty rates

Kitco | October 26, 2014

The increased mining tax framework included in Zambia's 2015 Budget earlier this month has been subject to criticism as, according to the Chamber of Mines of Zambia (CMZ), it will reduce the country's attraction for mining investment and reduce employment.

First Quantum warns Zambia tax hike will cost jobs, investment drop

Cecilia Jamasmie | October 14, 2014
First Quantum warns Zambia tax hike will cost jobs, investment drop

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.

Illegal gold miners face arrest

Times of Zambia | October 12, 2014

Energy and Water Development Minister Christopher Yaluma says security wings have managed to trace some illegal gold miners and dealers on the black market in the ongoing investigations.

Zambia launches major overhaul of mining tax, increases royalties

Cecilia Jamasmie | October 10, 2014
Zambia launches major overhaul of mining tax, increases royalties

Underground mining royalties will go up from 6% to 8%; underground taxes now 20%.

Zambia tells Glencore mine closure, lay-offs ‘illegal’

Cecilia Jamasmie | October 6, 2014
Zambia tells Glencore mine closure, lay-offs ‘illegal’

Zambia’s mines minister says the company has not officially communicated the government its intentions as required under the country's law.

Glencore now idles zinc mine in Zambia over tax refund row

Cecilia Jamasmie | October 3, 2014
Glencore now idles zinc mine in Zambia over tax refund row

The company is cutting 169 jobs at the mine.

Glencore halts copper projects in Zambia over tax row

Cecilia Jamasmie | October 1, 2014
Glencore halts copper projects in Zambia over tax row

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.

Zambian chamber urges gov't to speed up tax refunds for miners

Cecilia Jamasmie | September 25, 2014
Zambian chamber urges gov't to speed up tax refunds for miners

The business group argues the sector must be nurtured to generate the revenues needed for the country’s economic diversification.

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