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Vol 56 No 7

Published 3rd April 2015


Zambia

Mining companies get their way

On 26 March, President Edgar Lungu ordered Mines Minister Christopher Yaluma and Finance Minister Alexander Chikwanda to make a change to the new mining taxes by 8 April. Mining companies have been up in arms over the 20% royalty for open cast mines and 8% for underground mines and they look to have got their way, as Africa Confidential predicted. The mining media have hailed the announcement as a U-turn by the government and Barrick Gold, which threatened to suspend operations at its Lumwana copper mine, has promised to stay.

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