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New mines tax regime under review

BUUMBA CHIMBULU writes

GOVERNMENT will accept proposals regarding the recent changes to the mine tax regime, minister of mines and minerals development, Mines and Minerals Minister Richard Musukwa has said.

Mr Musukwa said Government had a duty to develop Zambia and ensure that resources were available.

He was speaking when he met, First Quantum Minerals (FQM) directors at the on-going mining 25th Africa mining indaba at the Cape Town International Convention Centre.

Mr Musukwa said that all particular concerns should be brought to the attention of Government.

Meanwhile, FQM director, Philip Pascal said the mine would submit concerns regarding the new tax changes especially regarding Kansanshi that had unique circumstances.

Mr Pascal said FQM had invested US$5billion over the years at Kansanshi and Lumwana mines in North Western Province.

He said over the years, FQM had paid over US$3.5 billion to government in taxes.

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