MINES OWED OVER $1 BILLION IN VAT REFUNDS
Government owes mining firms in the country in excess of One Point Five Billion United States dollars in unpaid Value Added Tax VAT refunds.
Chamber of Mines President Goodwell Mateyo has disclosed the development to Diamond TV.
Mr. Mateyo has further disclosed that Mopani Copper Mines MCM alone is owed over 450 million US dollars in unpaid VAT refunds.
Mr. Mateyo says the none remittance of VAT refunds has contributed to the operational challenges at major mines in the country.
The Chamber of Mines President says most mining firms in the country cannot undertake new projects owing to the colossal sums of money owed to the mines.
He adds that most mines are failing to clear their statutory obligations owing to the huge debt owed to them by Government.
Meanwhile, United Mine Workers Union of Zambia UMUZ has disclosed that all the 11 thousand miners at Mopani have today started reporting for work.
Despite MCM reopening, the firm has hinted that it might yet again place its operation under care and maintenance.