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Zambian President threatens to fine miners who break law

Metal News - Published on Mon, 17 Jun 2019

Image Source: EWN
Reuters reported that Zambia will fine and break ties with mining firms that fail to operate according to the southern African country's laws, President Edgar Lungu said escalating a dispute with India-listed Vedanta. Mr Lungu said in a statement at a mining and energy conference in Lusaka that the government expected investors to operate within the confines of the law.

Vedanta is fighting Zambia's decision last month to name a provisional liquidator to run its Konkola Copper Mines business and is seeking international arbitration.

Zambia, Africa's second-largest copper producer, says KCM has breached the terms of its licence.

The dispute between Vedanta and the Zambian government has intensified concerns among international miners about rising resource nationalism in Africa.

Zambia's Chamber of Mines said last month that 2019 copper output could be as much as 100 000 tonne lower than last year because of changes to mining taxes.

Zambia plans to introduce a new non-refundable sales tax in place of Value Added Tax, despite criticism from mining companies.

Source :

Posted By : Ratan Singh on Mon, 17 Jun 2019
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