Africa Mining: Barrick mulls selling Zambia copper mine over higher taxes

Africa Mining: Barrick mulls selling Zambia copper mine over higher taxes

Gold giant Barrick (TSX:ABX)(NYSE:GOLD) said Monday that while it continues to engage with the Zambian government and community stakeholders about a mutually-beneficial way forward for its Lumwana copper mine, it would consider selling the operation given the “challenging conditions” it’s facing. Advertisements

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Africa Oil & Gas: State Oil company said to owe $25 Billion to Nigeria Government

Nigeria’s Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has tagged NNPC’s bill to the federal government for 2011 through 2015 at $25 billion. According to  RMAFC, the state oil firm failed to transfer the necessary funds to the federal government.

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Zimbabwe Mining: Cabinet mulls ending tax on diamonds

The government of Zimbabwe plans to eliminate a 15% value added tax levied on diamond miners as part of measures to stimulate production and attract investment in the sector, Mines Minister Walter Chidakwa announced last week. Authorities are also planning to remove tax royalties on locally cut and polished diamonds.

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  Mozambique Extractive Industry: Mining Resources accounted for 15% of tax revenues last year

Mozambique Tax Authority CEO, Rosário Fernandes The contribution of mining resources to Mozambique’s total tax revenues has risen significantly over the last four years, from 2 percent in 2010 to 15 percent of all taxes collected in 2013, Mozambique’s Mining Minister said in the country’s parliament.

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A Look At Our Neighbour: Zambia looking to review mining taxes

Zambia, Africa’s second-biggest copper producer, wants to review mining taxes to boost government revenue after “inadequate” receipts from the sector last year, finance minister Alexander Chikwanda has said.

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