Zambia Consolidated Copper Mine Investment Holdings -ZCCM-IH- has given government K219.5 million dividends for its shares in the company.
Presenting the cheque to Finance Minister Alexander Chikwanda in Lusaka this morning, ZCCM Chief Executive Officer Pius Kasolo says his company is happy to have given its major shareholder its contribution.
He has expressed happines that the Minister has given an ear to mining firms in view of what he described as an impasse in the sector.
Dr. Kasolo has however says there is need for mining firms to give government its deu tax and uphold high levels of transparency.
But Mr. Chikwanda says there is no impasse in the mining sector except that some firm just have issues with the new mining regime.
He says the change from the corporate profit tax route to the royalty based taxes makes it easier for the Zambia Revenue Authority and Mining firms to plan.
Mr. Chikwanda says government has had useful discussions with Lumwana mine and notes that they need to engage the Zambia Revenue Authority -ZRA- as the Mines Act provides for recourse.
He has since advised stakeholders to allow the ZRA deal with the tax matters as its mandated to do so and not allow themselves to be trojan horses fro foreign interests.
Meanwhile Mr. Chikwanda has revealed that plenty of work has been done for the Industrial Development Corporation -IDC- noting that 2015 will see it operate full throttle.
He says government is in the process of moving shareholding of state owned enterprise from his Ministry to the IDC as part of spearheading the much talked about industrilizaton and job creation strategy.
The Minister has further expressed optimism that the taking up of 35percent into Mamba Collieries and the 300Meggwatts power project being worked on will come on stream this year and mitigate power needs that for the country and region.
Meanwhile Mr. Chikwanda is concerned that Zambia has not moved in the last 50 years because the Gross Domestic Product Growth has been very minimal.
He says while many people have kept on talking about Zambia having the potential, it is meaningless unless converted to reality.
The Minister says Zambia should be ashamed for failure to pull the intellectual prowess for development in view of good rainfall patterns, fertile soils and plenty of natural resources.