Reuters report today that Mines Minister Mwansa has confirmed that First Quantum is renegotiating its tax regime and that other might follow.
Mines and Mining Development Minister Kalombo Mwansa told Reuters in an interview the government was in advanced talks with Canada's First Quantum Minerals, which has raised serious objections to the new fiscal regime. "There have been discussions between First Quantum and the ministers for justice and finance over the tax issue," Mwansa said.
"We are ready to dialogue to keep mining viable so that they (mining companies) keep expanding and remain profitable." Mwansa said negotiations to cut some taxes would be extended to other mining investors who approach the government over their operational difficulties. "We are open to dialogue if there are problems at individual mines because the taxes were introduced to benefit the government while they (firms) remain viable," Mwansa said.
2 comments:
Mines threaten to sue State
By CHARLES MUSONDA and NKWETO MFULA
SOME foreign mine owners have threatened to sue Government over the new tax regime for the mining sector.
Hi Alastair.
It looks like Glencore (Mopani) is behind RP Capital Partners, which is about to be paid $2 million by the Zambian government to value ZAMTEL.
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