The Lumwana copper mine is located about 100 km west of Solwezi in Zambia’s Copperbelt. (Image courtesy of Barrick Gold.)
The Lumwana copper mine is located about 100 km west of Solwezi in Zambia’s Copperbelt. (Image courtesy of Barrick Gold.)

Barrick Gold Corporation, owner of Lumwana Copper Mine, has dismissed speculations that it intends to sell the mine in North western province.

Barrick Gold Corporation President and Chief Executive Officer Mark Bristow says the firm is committed to continuing engaging with the government to look at how best the 2019 fiscal regime can be addressed.

Mr Bristow says his firm has had constructive consultations with the government and is hopeful that they will continue with the newly appointed minister of Finance Bwalya Ng’andu.

Mr Bristow told journalists at a media briefing in Lusaka today that his firm is encouraged by the appointment of Dr. Ng’andu because he is a technocrat.

He said Lumwana does not produce high grade quality of copper as compared to other mining companies in the country and it should not be given a standard rate with bigger companies.

Mr Bristow said Lumwana is a low-grade mining company which is why it is important to further engage with the government in how the new fiscal regime can affect the low-grade miners.

He said the Zambian economy and infrastructure is one of the best in Africa and government has the right to benefit from the economic gain in Lumwana because it owns the mine on behalf of Zambians.

Mr. Bristow also appealed to the government to put a waiver on importation of concentrates

Meanwhile Mr Bristow said Lumwana is still owed sixty-six point seven million dollars in tax refunds.

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6 COMMENTS

  1. The people in Lumwana are already ready …
    Just sale this thing and give them their loot. Too much speculation and sh88t!
    SMFH!!!

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  2. When in the country, its one story. Elsewhere the story is different. Give a clear indication to remove uncertainties.

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