Zamiba may cut royalties further

[] – ZAMBIA may further reduce royalties payable on underground mining activities, said Reuters which cited a report on the southern African country’s state broadcaster ZNBC.

According to the report, Zambia mines minister, Christopher Yaluma, was considering lowering the current 9% royalty in order to make underground mining more cost effective. ZNBC did not give further details.

Zambia’s government set the royalty tax rate for open cast and underground mining at 9% in April, rowing back from earlier plans to charge as much as 20%, said Reuters.

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