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Alba Iulia
Friday, February 21, 2020

Government wont change Mine Taxes on account of falling Copper prices-Yaluma

Economy Government wont change Mine Taxes on account of falling Copper prices-Yaluma

Christopher Yaluma.
Christopher Yaluma.

Government has said that it has no intentions of changing the current mining taxation policy on account of the fall in Copper prices on the international market.

Mines Minister Christopher Yaluma said that government cannot adjust mine taxes without engaging sector players. Mr. Yaluma said that government wants to maintain and promote consistence in its mining tax policies in order to promote predictability and confidence among investors in the mining sector.

The Minister said that any changes to mining taxes will result in investors in the sector being skeptical to put their monies in mines. Mr. Yaluma was speaking in an interview with ZNBC News in Lusaka.

And Mr. Yaluma said that government will engage in talks with Mopani Mines whose parent company Glencore recently announced that it will suspend operations at some of its mines in Africa.

The Minister said that government is concerned at the recent announcement by Glencore which is also running mines in Zambia to and intends suspend its operations.

He said that government’s takes such threats of suspending operations seriously because it could affect jobs for many Zambians. Mr. Yaluma who stressed that Government will not respond to Glencore but will chat the way forward with Mopani mine over the matter.

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2 COMMENTS

  1. Yes Zambia isn’t a kanthemba country where they can change taxes to suit an individual. If they are not interested, they should leave.

Comments are closed.

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