A local contractor in Solwezi has implored government and the mines in the province to come up with a solution which will benefit all affected parties in relation to the increased mining taxes.
Chesterfields Chief Executive Officer, Mathias Mutupa told ZANIS in an interview yesterday that government and mining firms that intend to lay off workers once the increased taxes are implemented should address the issue as partners to continue growing the country’s gross domestic product.
Mr. Mutupa, who is also former North-Western Chamber of Commerce president, said the talks which are anticipated to be held should strengthen the partnership which government has with mining firms in the country.
He also called on Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) to consider increasing their shares in some privatized mines above the current 20 percent.
Mr. Mutupa stated that there are a lot of benefits which can result from ZCCM-IH increasing its shares in privatized mines which can increase the country’s economic growth.
He disclosed that ZCCM-IH has been holding the 20 percent rate of shares in the privatized mining firm for too long despite the mines registering growth in terms of profits.
Mr. Mutupa urged ZCCM-IH to come up with ways in which it can start operating mines like private mines are doing.
This is what happens when you think reading speeches about economic diversification is just that a speech…
You are still an AR$SE HOLE in 2019 badala
Gay Jerk
…kwekwekwekwekwe…Kudos wanjipaya…..kwekwekwekwe…
Who exhumed Kudos from his grave kanshi?
Even if they take up more shares, very little will be meaningfully achieved. The problem is not company ownership but fraudulent declarations of profits by the majority shareholders and overstating losses. What is needed is to increase monitoring and evaluation of these multinationals, ZRA ,Mines ministry, Finance and perhaps an independent bodies such as ZICA should be empowered to tackle pilferage of resources from small to large mines.
zccm should come back and run own mines….no share holding…
Not possible because institutions like ZCCM IH do not have the money. They simply got that 20% from negotiations when setting up operations. And if they ever have the money, they better get the engineers working in those mines to be their technocrats.
WHAT IS THE ROLE OF SCHOOL OF MINES IN FRAMING POLICY AND STRATEGY. WE CAN’T HAVE COUNTRIES WITH NO MINERALS TELLING US WHAT TO DO AND REPEAPING IS OFF OUR NATURE RESOURCES.