[miningmx.com] – A TAX dispute with miners meant Zambia was unlikely to produce more copper this year than last, said Bloomberg News which cited the country’s mines minister, Christopher Yaluma.
“There’s been a lot of uncertainty for four or five months,’ Yaluma said in an interview with Bloomberg News. “That will give us a knock with regards to production. I don’t see production figures beating last year. It’s going to be low,’ he said.
Zambia introduced a new tax regime in January that scrapped profit tax for mining companies and lifted royalties to as high as 20% to boost state revenue from the industry. Following threats of job losses and closures, the government said it will lower royalties and reinstate the profit tax from July 1.
Click here to read the full article
