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Argonaut Resources mobilising to site ahead of diamond drilling at Zambian copper-cobalt deposit proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.
Is lack of urgency holding back Panama's mining push? bnamericas.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnamericas.com Daily Mail and Mail on Sunday newspapers.
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 ....
ZAMBIA has recorded a huge increase in its copper production for 2020 to over 882,000 metric tonnes from 796,432 tonnes recorded in 2019, mainly triggered by record-breaking output from First Quantum Minerals’ (FQM) subsidiary companies, which collectively posted the highest last year. But Zambia Chamber of Mines data has revealed that last year’s copper output still lags behind the Democratic Republic of Congo’s (DRC) impressive 1.55 million tonnes that country’s mines produced last year. However, Mines Minister Richard Musukwa has insisted that the rise in the country’s mining productivity has been as a result of government’s “favourable policies and interventions”, coupled with expansion projects and ramping up of operations. ....