Zambia's chamber of mines backs new price-based mineral royalty - CNBC Africa

Zambia's chamber of mines backs new price-based mineral royalty

Southern Africa

by Reuters 0

Zambia's chamber of mines backs new price-based mineral royalty. PHOTO: Wikipedia

Zambia's new price-based mineral royalty will enhance the collection of revenue by the government rather than compromise it, the Chamber of Mines said on Tuesday.

The chamber's president Nathan Chishimba was reacting to a statement by civil society organisations advising against the new tax regime on the grounds that it is investor-led and will not maximize revenue in times of commodity price booms.

"One cannot separate mining tax revenue from mining investment, because it is the mining investment which ultimately produces the tax revenue," Chishimba said in a statement.

 

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