GOVERNMENT CASTIGATED FOR ‘FRUITLESS’ MINE TAX REGIME

By Michael Kaluba

The opposition Leadership Movement has taken a swipe at the new dawn administration for issuing tax breaks to the mining sector that were initially meant to create jobs and improve copper production but have not yielded any success so far with half year production figures indicating a downward trend.

Latest figures from the Zambia Chamber of Mines show a decrease of 28, 177.31 metric tonnes in Zambia’s 2022 half year production figures translating into a 7.17 percent dip as compared to the same period in 2021 after a total of 364,937.58 metric tonnes of copper was produced as at June 2022 compared to 393,114.89 metric tonnes at the same period

last year.

Leadership Movement president Richard Silumbe says the country’s annual copper production will not increase for as long as the assets remain in private hands who are already making profits from the current operations and given further incentives through a lenient mining tax regime.

Dr. Silumbe is of the view that Zambia must begin to take more control of its mining sector if the country is to improve its production figures.

He adds that it was wishful thinking for the UPND government to accord the mining sector with a tax regime that favors mine owners at the expense of Zambians in an effort to grow production when the reality is the opposite.

PHOENIX NEWS

 

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