PF government wants 35 % in all mines

PF government wants 35 % in all mines

Zambia will negotiate larger shareholding in foreign mining companies and plans to revise the tax collection mechanism to improve transparency and maximize benefits for the country, the minister of mines said.

“We would like to increase our shareholding to at least 35 percent in all the projects but that will depend on how well we negotiate with the mining firms,” mines minister Wylbur Simuusa told Reuters in an interview late on Wednesday.

Simuusa said the decision to seek a higher stake in the mines did not amount to nationalization of the mining sector in Africa’s top copper producer.

Reuters

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