RELAXED FISCAL RESTRICTIONS CHEER MINESBy SANFROSSA MANYINDABARRICK Gold Chief Executive Officer Mark Bristow says the normalisation of Zambia’s fiscal restrictions is a significant event in the country’s efforts to attract fresh investment.Zambian tax policies have been revised in the 2022 national budget.This means that mining royalties are now deductible from corporation tax under new laws.Barrick Gold operates the Lumwana copper mine which is on course to contribute roughly 20 percent of the group’s annual earnings before interest, tax, depreciation and amortisation owing to the improvement in the copper price.Mr Bristow said the real reward the company would give to the government was that the mine was delivering.” Lumwana estimated would deliver $400m a year, and possibly even more with the relaxation in Zambia’s fiscal regime.” But Zambia ought to consider further relaxation of fiscal regulations miners face such as the sliding scale used to calculate royalties to en-courage investment,” Mr Bristow said.He said Zambia had […]
RELAXED FISCAL RESTRICTIONS CHEER MINES
