[miningmx.com] – ZAMBIA’S Chamber of Mines called for a single royalty rate for all types of mining operations in the country instead of the current 6% and 9% rates applicable for underground and open-cast mining respectively, said Reuters.
“A two-tiered rate, differentiated by mining method, is not conducive to the long-term health of the industry and government revenues,” the chamber said in a statement cited by the newswire service.
“It does not address the need for continued investment in the country’s mines, nor does it address the fact that there are some open cast mines with higher operating costs than underground mines and vice versa,” the chamber said.
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