CNMC Luanshya Copper Mines says it’s mineral royalty tax contribution to the Zambian government is expected to increase from the current $25,500 to $46,900 once shaft 28 becomes operational.
Speaking when Water Development and Sanitation Minister Collins Nzovu conducted a site visit of the shaft 28 dewatering project yesterday, Company Deputy Chief Executive Officer Technical Robert Kamanga explained that input vat is expected to increase from the current $18,000 to $33,400 while pay as you earn is anticipated to increase from the current $3,670 to $6,520.
Mr Kamanga says customs duties are also expected to increase from the current $500 to $750, with property rates expected to increase from the current $150 to $250 once additional copper production at shaft 28 which will be known as Luanshya new mine is at its peak.
And Water Development and Sanitation Minister Collins Nzovu has pledged government’s support to the mine on its new project, saying it is a strategic partner in Zambia’s target to increase copper production to 3 million tonnes by 2031.
President Hakainde Hichilema recently commissioned the dewatering of the flooded shaft 28 at Chinese-owned CNMC Luanshya copper mines, to pave way for the commencement of actual copper mining at the site which has been dormant for over 20 years
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