Sunday, June 16, 2024

Economist happy with First Quantum Minerals

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An economist has praised First Quantum Minerals limited the owners copper and Gold mine in Solwezi in North Western Province for the flouting 40,000 shares on the Lusaka Stock Exchange.

Mr Lubinda Habazoka a lecturer at the Cooperbelt University in Kitwe predicated that more mining firms in the country will follow the same trend.

He says this is as result of stable market price for copper on the London metal stock exchange.

Mr. Habazoka pointed out that the First Quantum Minerals limited’s listing its shares on the Lusaka Stock exchange will result in the increase money for investment and Zambians will have an option of investing their money in a profitable company.

He noted that the move will First Quantum to improve on its production capacity and more taxes for the country will raised.

7 COMMENTS

  1. 51 intellectual says:Fri Jul 22 at 6:21 pmContd… listed on LuSE). Right? if that is correct, just by giving even FREE 100% free to Zambians, FQM will be saving millions of dollars every year on corporate tax, 5% of 500 million dollars is 25 million dollars and with their expansion plans they might be reaping over a billion dollars profit every year and 5% of that.What economists, what accountants, what advisers?

  2. I might be very dull to seek the following clarifications:1.) 40, 000 shares issued to Zambians through LuSE.2.) what price per share?3.) Are these 40,00 shares equivalent to 132,679 (125,679+ 7,00 shares) underlying shares issued and listed on Toronto Stock Exchange? Please go to the following site to get these figures.http://www.marketwatch.com/story/first-quantum-minerals-ltd-announces-issuance-of-shares-2011-07-19-925110?reflink=MW_news_stmp4.) What premium/discount applied on Zambian Shares? Kwacha conversion rate used?5. ) Now comes my idiocracy and real question to the socalled economists who are bragging on another article where I will cut and paste this as well. Do the mining houses get 5% Tax reduction (instead of 35% corporate tax a rate o

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