Zambia sets mining royalties at 9% – presidency source

Zambia has proposed to set its mining royalties at 9% for both open-pit and underground mines, a source in the presidency said on Tuesday, in an attempt to prevent looming job cuts and mine closures. Zambia's decision to increase royalties for open pit mines to 20% from 6% and those for underground mines to 8% from 6% in January had rattled unions and miners, forcing the government to review the plan.