Kansanshi pays over US$3 billion in taxes over the last10 years

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Mr Matt Pascal First Quantum Minerals Director of Operation with President Edgar Lungu during the Tour of Kansanshi Mine PLC in Solwezi on Friday 15-05-2015 Picture EDDIE MWANALEZA /STATE HOUSE.
Mr Matt Pascal First Quantum Minerals Director of Operation with President Edgar Lungu during the Tour of Kansanshi Mine PLC in Solwezi on Friday 15-05-2015 Picture EDDIE MWANALEZA /STATE HOUSE.

First Quantum’s Kansanshi Mines says it has paid in excess of US$3 billion in tax contributions from 2005 to 2015.

First Quantum Minerals Limited Government Affairs Director John Gladston said the bulk of the tax contribution was from Corporate Tax which accounted for US$1.91 billion while Mineral Royalty Tax made up US$0.75 billion of the final tax bill.

Mr Gladston revealed that Pay as You Earn (PAYE) made up of US$0.22 billion while Customs and import Duties accounted for US$0.22 billion and US$0.06 billion was generated from Withholding Tax.

Export Levies made up the least continuation with US$0.03 billion.

And Mr. Gladston says First Quantum Minerals Limited says it has spent US$5.7 billion on various capital projects in Zambia up to 2015.

He said Kansanshi Mine has gobbled US$2.6 billion while US$1.0 billion was spent on the Kansanshi Smelter.

Mr Gladston revealed that the Trident Project which included the Sentinel and Enterprise saw US$2.1 billion invested.
He said First Quantum Minerals is planning to construct two Multi-Facility Economic Zones (MFEZ) with significant interest by the private sector to sign-up.

Mr Gladston also disclosed that through the Kansanshi Foundation, First Quantum has released a total of US$30m to finance Corporate Social Responsibility Programmes while US$43m has been utilised at Trident Foundation.

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13 COMMENTS

  1. And that is just tax. Now you can imagine where we would be as a nation if we did not sell the mines and all the financial resources from the minerals were going into the Zambian coffers. Not just getting into our national coffers but also prudently used and equitably distributed. We have indirectly re-colonized our Country but we do not know it.

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    • and who the hell is it that sold those mines, at what price and how rich could they be by now? am sure its easy to know who by checking through the Zambian Rich People’s list. My heart breeds.

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  2. And where has that tax gone? Solwezi road am told is a nightmare. Mulusa is now comfortable and cant walk in protest from Solwezi to Chingola

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  3. So what?What is $3BILLION IN 10 YEARS?THATS IS WHY IS LEVY SOLD THE MINES FOR $23M AND WE WANT TO HAVE AN EXCUSE WE COULD NOT RUN THEM.WE CAN MAKE MUCH MORE THAN 3BILLION FROM THESE MINES.NATUKULA!UBUTUTU BUFWILE BWAPWA!

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    • @3 Ichishinka, WE ALL WISH what YOU HAVE SAID BECAUSE WE WANT GOOD FOR OUR COUNTRY but the REALITY IS WE ARE STILL A VERY INDISCIPLINE LOT that is why WE TOLD OVER THE MINES,FAILED TO RUN THEM AND SOLD THEM AWAY and WE HAVE NOTHING TO SHOW FOR THE PROCEEDS FROM MINES WE SOLD and OTHER PARASTATALS. IF you are IN DOUBT,Please CHECK OUR INDISCIPLINE BY THE WAY WE ARE RUNNING ZESCO,ZAMTEL and ANY OTHER REMAINING PARASTATAL! WE ARE STILL SELFISH,SHORT SIGHTED AND VERY UNPATRIOTIC to the CORE! That is why FOREIGNERS TAKE ADVANTAGE OF US!!

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  4. To put this tax paid figure into perspective, FQM should also tell us how much they earned over the same period.

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  5. You add all the taxes then brag about it…we are only interested in the tax you pay for copper not the tax that any bussiness pays!!

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  6. I am fine with the hours, since we have a GENUINE PROBLEM ON OUR HANDS. But please try not to do your LOAD SHEDDING IN THE EVENING OR AT NIGHT. I DON’T LIKE THAT. Gives me the HEBBI GEE BEES. I love my movies and my BRAIN GAMES, having quality time with family thank you.I Don’t drink , and i don’t smoke and not a fun of parties or Clubs. VERY INTROVERTED. Expect my call ZESCO.

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  7. First quartum u are crooks here u want show has if u pay a lot.
    Give us those figures per month,year etc why give for 10 years has if u pay every 10 years.it means something is being hinden in those figures.? How much did u pay from 2011 to 2016

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  8. These *****s…must leave our nation they have stolen more than enough… what about the gold minning area…where no zambians are allowed…Just go we are not interested.

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