Zambia may be backing off steeper mine royalty rates – Barrick

There are indications that Zambia may be backing away from plans to impose a 20% royalty rate on open pit mining in the country, a top executive with Barrick Gold Corp said on Thursday. "Our sense is that the government realizes that the numbers they have imposed will be very challenging for the industry," Barrick co-president Kelvin Dushnisky said on a conference call to discuss the company's third-quarter results.