Royalties hikes

Zambia is pushing ahead with its plans to more than triple royalties on open-pit mines in a move that will leave up to 12,000 jobless and which is likely to sour the already fractious relationship between the government and mining companies. Mines minister Christopher Yaluma said Tuesday it would raise rates from 6% to 20% for open pits and from 6% to 8% for underground operations on Jan.1 as planned, because it was in the best interests…

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