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Record copper prices double-edged sword for Zambian miners | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Not registered? • Double taxation impeding investment • Mining critical to government revenue Copper mining companies in Zambia, Africa s second-largest producer of copper after the Democratic Republic of Congo, are at odds with the record prices of copper, which have brought them significantly higher royalty bills than previously under the country s current tax regime. The London Metal Exchange three-month copper price was trading at $10,406.50/mt ($4.72/lb) as of 1552 GMT, while on May 10, the LME 3M copper price hit a record high of $10,747.50/mt. A year ago, after the COVID-19 pandemic first hit, the price stood at $5,249/mt. Zambia uses a sliding scale to determine its mining royalty rate for copper, linked to the prevailing international copper price. The scale is adjusted in that royalties are paid at higher levels as commodity prices climb and are reduced as prices fall, starting at the minimum threshold of 5.5% when the copper price is less than $4 ....
By Reuters Staff 3 Min Read KINSHASA (Reuters) - Democratic Republic of Congo’s Prime Minister announced a new Cabinet on Monday, completing a government overhaul by President Felix Tshisekedi that strengthens his hold on power. Democratic Republic of Congo s President Felix Tshisekedi delivers a speech at the opening of talks about Ethiopia s Renaissance Dam at the Fleuve Congo Hotel in Kinshasa, Democratic Republic of Congo April 4, 2021.REUTERS/Hereward Holland The new government is a further blow to Tshisekedi’s predecessor and former coalition partner, Joseph Kabila, who stepped down in January 2019 but maintained control of some ministries, the legislature, judiciary and security services. ....
KINSHASA (Reuters) - Democratic Republic of Congo's Prime Minister announced a new Cabinet on Monday, completing a government overhaul by President Fe. ....
Congo names new Cabinet, cementing Tshisekedi's power over predecessor, Kabila timeslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timeslive.co.za Daily Mail and Mail on Sunday newspapers.