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Alba Iulia
Friday, August 7, 2020

New mining tax regime is a major boost to the Country’s mining sector-KCCI

Economy New mining tax regime is a major boost to the Country’s...

Mopani Mines
Mopani Mines

The Kitwe District Chamber of Commerce and Industry (KCCI) says the new mining tax regime being implemented by Government is a major boost to the Country’s mining sector.

KCCI Vice President for Commerce Emmanuel Mbambiko says President Edgar Lungu and the PF government’s decision to implement a floating tax regime for the mining sector has provided a Win-Win situation for mine investors and the Government.

Mr. Mbambiko was speaking at a press briefing in Kitwe today ahead of the third edition of the Copperbelt Mining Trade Expo that opens in Kitwe on Thursday, May 12.

And Mining Expo Convener Nicole Smith said the event will help to find solution to some of the challenges facing the sector.

Meanwhile KCCI President Allan Nyirenda says the commissioning of the multi million US dollar Synclinorium shaft at Mopani is an indication that foreign investors are upbeat about the future of the sector.

4 COMMENTS

  1. Hi Kasali, I’m happy to help with this is a corporate finance term. Understanding Float:As you know doubt know, the amount of money you have according to your checkbook can be very different from the amount of money that your bank may think you have. The reason is that some of the cheques you have written haven’t yet been presented to the bank for payment. The same this is true for a business. The cash balance that a firm shows on its books is called the firms book or ledger balance. The balance shown in its bank account is called its available or collected balance. The difference between the available balance and the ledger balance is called the flat, and it represents the net effect of cheques in the process of clearing (moving through the bank system).

  2. The difference between the available balance and the ledger balance is called the *float*, and it represents the net effect of cheques in the process of clearing (moving through the bank system).

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