The Copperbelt Mining Agricultural & Commercial Show will host an exhibition from 27th May to 31st May 2015 under the theme “Maximise Development To Sustain a Strong Economy“.
The Show has been growing each year and CMACS expects an excellent one this year. They already have exhibition stands booked and they are going fast.
It is believed that these shows are an excellent marketplace for a large variety of products from mining to consumers. The show has always drawn a good quantity of quality business visitors during the trade days and large crowds of the general public over the weekend.
The show is renowned for its hospitality and good business facilities. There is a large variety of different sized stands and open spaces to choose from. See the location on this map: https://goo.gl/maps/Y6UUH
We wish to inform stakeholders and Media organisations invited to the Zambia Chamber of Mines briefing on the implications of Zambia Revenue Authority (more…)
Vedanta Resources Plc is gearing up to spend $280 million at its Konkola Copper Mines (KCM) unit in Zambia, a move that will increase production output by more than a third by 2017.
“We have reinvested all of our earnings back into the company. This has supported the creation of 5 000 new construction jobs and in the meantime, salaries at KCM have more than doubled in real terms,” said Vedanta CEO Tom Albanese.
The Konkola mine has made $2.3 billion of capital investments in the past nine years while paying $73 million in dividends. The flagship project provides access to one of the largest high-grade ore-bodies in the world.
The company, which is owned by Indian billionaire Anil Agarwal, also agreed to pay $111 million in debt settlement at the Konkola site, as well as provie a $400 million bank guarantee.
The $280 million investment by Vedanta comes as a bit of a shock. The company and Zambia, Africa’s second-largest copper producer, have a history of bad blood. The situation worsened last month when Agarwal was caught on camera discussing the low price he paid for Konkola and the profit it makes.
Zambia, which once revoked ex-Konkola CEO kishore Kumar’s work permit, is reportedly in the process of revising its mining laws, which could lead to significant future impact on the mining company.
Story by Mining Global.
VEDANTA is in Zambia for the long haul, says company CEO Tom Albanese.
Executives from First Quantum Minerals and Konkola Copper Mines (more…)
Zambia, Africa’s second-biggest copper producer, wants to review mining taxes.
According to finance minister Alexander Chikwanda the move is to help boost government revenue after “inadequate” receipts from the sector last year.
It is only fit and proper that the country gets optimal revenue from its depleting resources
Mining taxes contributed 18.8 percent to government revenue in 2013, Chikwanda told parliament late on Tuesday.
“The contribution of the mining sector is admittedly inadequate”.
“It is only fit and proper that the country gets optimal revenue from its depleting resources. There will be an appropriate and opportune time for parliament to review the existing legislation,” he said.
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