Zambia's President signals aim to change 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.