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Vol 48 No 25

Published 14th December 2007


Zambia

Copper-clad deals

Under opposition pressure, the government seeks better terms from the latest set of investors in its copper mines

The world price of copper has taken a tumble. Despite the talk of a never-ending Chinese-driven boom, the price of the metal on the London Metal Exchange has fallen by about 25% since October, to roughly its December 2006 price. Zambia has not noticed. On 4 December, its Finance Minister, Ngandu Magande, announced that his government would next year adjust upwards the royalties and taxes it levies on the mining industry.

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