Government has projected an increase in mining taxes next year. Finance and National Planning Minister Situmbeko Musokotwane says negotiations are already underway.
Dr Musokotwane however said Government will not re-introduce the Windfall taxes on revenue from the mines.
He was speaking at a press briefing in Lusaka yesterday. Dr Musokotwane explained that the country is already benefiting from taxes on profits made by mining firms. He regretted that some politicians want to mislead Zambians on the issue of windfall taxes.
Meanwhile, The new investor of Maamba Coal Mine, Nava Bharat, has begun revamping the Colliery.
Chief Executive Officer Kalunga Mumba has said the demolition of the old coal processing plant is underway.
The old plant will be replaced by a modern one, at a cost of twenty-four million United States dollars.
Mr. Mumba told ZNBC news in Maamba that the new coal processing plant is being designed in South Africa.
He explained that the new plant will be installed at the mine in the next quarter of 2011.
Mr. MUMBA also said the mine has acquired new drills while the clearing of the rubble is underway.
The Mine is Zambia’s leading supplier of Coal.
ZNBC
Musokotwane dont fool us, you are just bowing to pressure of the many Zambians who are calling for introduction of windfall tax. call a spade a spade, the tax increment you are talking about is being implemented in view of the increased copper prices.
@1 LT has hiden the wor
@1 LT has hidden the word F.O.O.L, it is not an insult.
Just what is wrong with the Windfall Tax!!
Reasons given so far are a load of bollocks by this learned Minister and his colleagues. Just tell the trueth,,,its much easier to remember that a lie
@1 LT has hidden the word F.O.O.L it is not an insult
Dr Musokotwane knows best.!
I am saying BYE to you all fellow bloggers, I will be going back to my beloved country next week for the festival season. I encourage you all to join me and get back to Zambia if you can.Dont stay too long in a foreign country,you will feel like a stranger when you finally decide to go back.
All your fiends will forget about you which is not good. BYE BYE FOR NOW AND MAY GOD BLESS YOU ALL. I HAVE ENJOYED ASSOCIATING WITH YOU ALL. I JUST WISH THERE WAS A WAY OF MEETING PEOPLE LIKE SENIOR CITIZEN AND HAVE SOME FUNNY WHILE RECALLING THE GOOD MOMENTS OF EXCHANGING VIEWS ON LT. PLEASE TAKE CARE AND REMEMBER THAT ZAMBIA IS OUR COUNTRY IRRESPECTIVE OF OUR POLITICAL ASSOCIATION. MERRY XMAS AND PROSPEROUS NEW YEAR TO YOU ALL.
Its called erections fever, just accept bwana minister that windfall tax was the way to go, i hope you wont scare the infestors by your so called negotiations. Whoever bestowed that doctrate on you must be very sorry for you!!!! PIMP
#7
I think you can blogg even from back home, a quick dash in an internet cafe wouldnt be a bad idea
Happy Holidays to you and your Family
#7 happy festive season, why all the goodbyes? we are just a computer screen away, and your friends can be reached with skype and other cheap phone options from abroad much cheaper than zain and all local z networks. I wish i could be in z this festive season , i miss the mangos and pyrated DVDs, masuku, kapenta, and even the flirty HIV positive z chicks lol!
Regarding the windfall tax… just how much are you negotiating for Mr minister man? increase from the current 0.06 % to 0.07% ,well done ! chi k a l a !
” Chief Executive Officer Kalunga Mumba has said the demolition of the old coal processing plant is underway. The old plant will be replaced by a modern one, at a cost of twenty-four million United States dollars. ”
Thank you Minister, in informing us how much we are going to pay for it.
Uku shishita fi Rupiah
Finally they have conceeded to doing the right thing. People must learn to listen and go with the prevailing logic.
It is very sad indeed that we’ve missed an opportunity as a country to get something meaningful out of our resources. Hon. Musokotwane you’re a big let down. Its not just the opposition that is taking about raising taxes old man … the IMF, World Bank. US and European embassies. You’re just alone with you ka dirty mines minister who are opposing it. We know how Mwale has accumulated wealth in a short period of time from his chinese investors!
Thieves in disguise – I mean Musoktw*** and his crowd at finance ministry.
Does the minister mean in next year’s budget? Badaala get a grip of your job,this is just a cheap political gimmick,desperation i guess,stop advancing these lisholi’s agendas
i certainly don’t think that raising tax for employers is a good thing. this notion that the country can only benefit from tax is wrong. the nation will benefit from high employment rates, acquisition of skills, small businesses opportunities that that come with big institution like KCM. if more people are employed they’re able to buy goods and service from municipalities, supermarkets, zesco street vendors etc. thats how a country benefits. these high taxes only chase away business and we end up with high unemployment.
So, the new taxes will be introduced in the 2012 budget. Is the minister aware that copper prices are predicted to fall drastically in that year?
HE IS TELLING LIES, THIS IS A SIMPLE ELECTION GIMMICK!!!
It is now dawning on them that PF-UPND are a tour-de-force & are unlikely to break-up just before elections. THESE ELECTIONS ARE FOR THE PACT TO LOSE!!! People are geared to give the pact an overwhelming majority!!
SATA & HH now more than any other time, NEED TO SIT DOWN AND DECIDED THE PACT REPRESENTATIVE or CALL FOR A PACT-CONVENTION with equal numbers of representatives. They should accept that only one of them can represent the pact, the other will have to be appointed as de-facto VP – then during their term pursue a change in constitution to allow for “VP running mate”,
& at same time erase the crap that MMD have enforced into this “hopeless” new constitution!!
I feel bad and pity for all ZAMBIANS who have guarded the minerals for years or centuries only to be giving them out for free…
Dont understand the business behind
If not prepared lets stop selling the metals and concetrate on AGRIC
Mining seems a problems! Returns for Zambian not meaningful!
Do not believe any slight statement from Musokotwane or his fellow MMD animals. He probably was just reading a statement made for his which he can not even remember the contents if you asked him. These monkeys are BIG JOKERS
20, aren’t you tired of listening to yourself? I mean this tired thing of Pact, you are probably the only person who thinks that the PF/UPND Pact still exists, have you been in the country last few months?
Sata doesn’t believe in it and does not even mention it anymore, Sata’s vuvuzela Post has put it in no uncertain terms, even H.H. does not believe in it either, he is only posturing like a headless chicken in order to save face.
Iwe ka kangwa, ubusushi uleke!! Ule lyafye impiya shesu uko ba kutuma – inshiku shobe shili mupepi!
Pumbafu!!
The stars above are for the word “ule” “U.L.E” how is that profanity?? I guess for LT, its the closest spelling for the word prostitute – it isn’t surprising their vocabulary is so narrow, though so narrow, they can’t even master spelling the few words in their vocabulary!!