Zambia will increase mining royalties; New royalties could lead to closures and job losses

摘要

ZAMBIA'S MINES Minister Christopher Yaluma announced that Zambia will proceed with plans to increase royalty rates on openpit and underground mining from Jan. 1. The hike will increase royalties for openpit mines by 14 percent to 20 percent and to 8 percent from 6 percent for underground mines. The move comes despite industry fears of shaft closures and up to 12,000 job losses, Reuters reported.