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Why Zambia is pricing itself out of the global mining market

PUBLISHED: Thu, 20 Dec 2018 14:02:55 GMT

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LUSAKA (Reuters) – Zambia is pricing itself out of the global mining market with proposed increases in mining taxes, the head of the local mining body said on Thursday.

Some mines would become loss-making as a result of the Zambian government’s plans to impose new mining duties and increase royalties to bring down mounting debt, Zambia Chamber of Mines President Goodwell Mateyo told a news conference.

Reporting by Chris Mfula; Writing by Alexander Winning; Editing by Susan Fenton