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‘State only receives $600 million from copper’

MUSUKWA

CAROLINE KALOMBE, Lusaka
TOTAL annual export earnings from copper amount to between US$6 billion and US$8 billion but Government only receives between US$300 million and US$600 million.
Minister of Mines and Minerals Development Richard Musukwa said the justification for increasing the mineral royalty on copper is because Government receives low revenue from the mining sector.
The increase will be marginal because mineral royalty is dependent on commodity prices.
Mineral royalty has also been made non-deductible because it is not a tax but a payment in consideration of the minerals being mined.http://epaper.daily-mail.co.zm/

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