Zambia

Barrick to halt Lumwana mine in Zambia after tax hike

Cecilia Jamasmie | December 18, 2014
Barrick halts Lumwana mine in Zambia after tax hike

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.

Zambia removes tax rules on copper exports, makes refunds easier

Cecilia Jamasmie | September 3, 2014
Zambia removes tax rules on copper exports, makes refunds easier

Rule requiring exporters to produce import certificates from destination countries in order to claim tax refunds will be waived beginning Sept. 8.

Zambia to ease tax rules on copper exports

Cecilia Jamasmie | August 26, 2014
Zambia to ease tax rules on copper exports

Good news for the country's copper miners that have been seeking more than $600 million in unpaid tax refunds.

Accusations of Glencore-Zambia tax probe cover-up

Frik Els | August 4, 2014
Accusations of cover-up of Glencore-Zambia tax probe

The European Investment Bank will not make public the findings of a 2-year tax-avoidance investigation into the Swiss giant's Zambian copper operation.

First Quantum defers $1B Zambia investment

Jeffrey Richmond | June 24, 2014

Zambian fiscal regime highly uncertain.

Copper price slump tilts Zambian economy into crisis

Frik Els | June 8, 2014
Copper price slump tilts Zambian economy into crisis

Africa's number two copper exporter seeks IMF assistance.

Zambia miners can’t afford 29% power price hike — chamber

Cecilia Jamasmie | April 4, 2014
Zambia miners can’t afford 29% power price hike — chamber

Mining companies in Zambia use about 68% of the country’s electricity, while less than a quarter of the population has access to it.

South Africa Grindrod to build copper railway in Zambia

Cecilia Jamasmie | February 3, 2014
South Africa Grindrod to build copper railway in Zambia

It will connect the landlocked country's vast copper mines to the Atlantic coast.

Vedanta to replace 1,500 Zambian workers with machines

Ana Komnenic | November 2, 2013
Vedanta to fire 1,500 workers in Zambia

Zambian government wants to talk it over.

Zambia restores 10% tax on unprocessed copper exports

Cecilia Jamasmie | October 28, 2013
Zambia restores 10% tax on unprocessed copper exports

Now the duty is on all semi-processed base metals, including copper.

ABB wins $32 million contract to power Africa’s biggest copper mine

ABB | August 8, 2013
Copper production in Zambia on track for 1.5m tonnes

New substation to facilitate reliable power supply to copper mining operation in Zambia.

Zambia lets First Quantum restart dam project halted since May

Cecilia Jamasmie | July 22, 2013
Zambia lets First Quantum restart dam project halted since May

The dam is key for the supply of water to the company’s Sentinel copper mine and the planned Enterprise nickel project.

Vedanta halts plan to cut jobs in Zambian mines

Cecilia Jamasmie | June 6, 2013
BHP chooses to keep Australian coal mine

Measure is expected to reduce tensions with the Zambian government, which threatened to take over the mine in May.

Vedanta raises $1.7bn, India’s largest ever offshore bond sale

Cecilia Jamasmie | May 24, 2013
Vedanta raises $1.7bn, India’s largest ever-offshore bond sale

This is a landmark transaction for Vedanta, which is joining domestic peers in catching the flood of US dollars being unleashed by central banks.

Transfer pricing: resource nationalism’s new battleground?

Moves to tighten tax collection and enforcement are a natural accompaniment to more stringent fiscal and local content regimes.

Zambia corners mining companies to stop tax evasion

Cecilia Jamasmie | April 29, 2013
Zambia corners mining companies to stop tax evasion

New rules likely to come into force by mid-May.

Gemfields falls 27% as Zambia imposes ban on gemstones sales

Cecilia Jamasmie | April 8, 2013
Gemfields falls 27% as Zambia imposes ban on gemstones sales

World’s No. 1 emerald producer hits steepest decline in more than four years.

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