Sun, 25 Dec 2016 10:37:26 +0000 THE decision by Government to remove the budgeted 7.5% levy on imported copper concentrates was made after an elaborate consultative process with the Parliamentary Estimates Committee and Stakeholders. This was a decision in the right direction. The reasons advanced by the Chamber of Mines and other stakeholders were compelling under the prevailing circumstances in the mining industry. Had the 7.5% proposal been maintained, it could have had a crippling effect on the sustainability of the mining industry. The Zambia Chamber of Mines requested for a waiver of duty on imported concentrates for a number of reasons: They explained that Mining companies with excess processing capacity procure copper concentrates from DR Congo with the aim of utilizing capacity of their respective smelters. However, Zambia’s own concentrate production does not meet processing capacity. Some smelters are in ramp up mode and are yet to reach design capacity. Smelter operations need […]
WHY WAIVER OF DUTY ON IMPORTED COPPER CONCENTRATES IS PROGRESSIVE
