The Zambia Chamber of Mines has appointed Goodwell Mateyo as its new president.
He succeeds Nathan Chishimba, who is retiring after two consecutive terms.
Seasoned industry veteran Nicolas Bowen will serve as Vice President.
Mr. Mateyo takes over the policy lobby group at a time when the mining industry is facing an imminent change in its fiscal regime, as outlined in the 2019 National Budget, announced by the Finance Minister, the chamber said in a statement issued on Tuesday.
He also disclosed that members of the chamber were reviewing their operations and might have to consider scaling back substantially while reducing capital expenditure by over $500-million over the next three years.
He added that this was likely to result in about 7 000 direct jobs, and more than 14 000 indirect jobs, coming under threat.
“While feedback on our representations to the Ministry of Finance is awaited, the membership remains hopeful of averting such an outcome and are strongly committed to robust engagement above and beyond the process outlined by the Minister in which the reconstitution of the Tax Policy Review Committee was announced,” Mr. Mateyo said.
No turning back, we’ve been exploited for far too long. We have a huge National debt and reputation to repay and repair. This is the only way out.
How can sharing of windfall revenue be a bone to chew with the people of Zambia? You don’t even plan for that windfall bonus in your budgets, how can giving 10% of the same to the country affect your investment or production or employment levels? Selfish investors, pure selfishness!!! Rather than try and intimidate and blackmail the nation just sell to others….there is a long queue of investors waiting out there. In Congo you cannot even yap, you just obey the same taxes and repeat yes Sir, yes Sir!
Just ensure the mines pay their taxes, they owe a sh!t load of money to Zambians
THESE SO-CALLED PRESIDENTS ARE JUST MOUTH PIECES OF THE REAL BENEFICIARIES OF THE MINERAL WALTH OF ZAMBIA. NAMELY THE VEDANTA CHAPS, MOPANI SWISS-BASED CHAPS AND THE PASCALS OF THIS WORLD.
IT’S ABOUT TIME THE PF GOVERNMENT STOPPED MOLLY-CODDLING THESE PEOPLE. GOVERNMENT SHOULD NOT BE THREATENED BY THE MINING OUSES AND ZAMBIANS SHOULD NOT BE MADE TO SUFFER.
IT WILL BE WORSE UNDER HH.
Making investors pay realistic taxes is only one side of the story; the other side relates to how the taxes collected are used. Congo may be collecting a lot of taxes but there is very little to show for it. Look at the quality of life in the country that is endued with such a lot of mineral wealth.
Honorable Finance Minister Mrs Mwanakatwe , please revoke subsidies on electricity and fuel to the Mines, in addition to sticking to your proposed Taxes on them. They are huge profit making entities, why on earth should a poor nation still subsidize a mega multinational firm? There are enough people lining up to take over the mines if they want to leave, Copper is a depreciating resource, let’s maximize income from it while we can like Tanzania has done. let’s not be held to ransom by their threats of worker retrenchment. We need the money to pay down debts and repair our international reputation financially.