MINING ROYALTIES
Zambian President Edgar Lungu on Wednesday directed the finance and mining ministers to change royalties on mining firms by April 8, saying the copper-producer could consider temporarily reverting to the tax regime in 2014. The decision to increase royalties in January for open pit mines to 20% from 6% and those for underground mines to 8% from 6% has rattled unions and miners in Africa's second-largest copper producer.
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