Business

Mine royalties hitting copper

MINERS processing copper at one of the mines on the Copperbelt.

KALONDE NYATI, Lusaka
ZAMBIA may this year lose about US$140 million in revenue from the mining sector because of the new tax regime.
In this year’s national budget, Government increased mineral royalty rates by 1.5 percent at all levels and Government has also introduced import duty on copper and cobalt concentrates at the rate of five percent.
Government has also introduced a fourth tier rate at 10 percent on the sliding-scale mineral royalty regime. CLICK TO READ MORE

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