Q FM Africa's Modern Radio
The Zambia Chamber of Mines has welcomed the removal of 7.5 percent import duty on copper concentrates.
Chamber of Mines Acting Chief Executive Officer, Talent Ng’andwe says the removal of import duty on copper concentrates will help in stabilizing independent smelters, and finished copper output, in addition to creating employment and contributing to government revenue.
Mr. Ng’andwe says currently, Zambia has an immense deficit in terms of concentrates produced locally compared to the existing capacity to process.
He says the present national processing capacity stands at more than 3.6 million metric tons of concentrates per year while the output of concentrates in Zambia is around 2.9 million metric tons per year.
Mr Ng’andwe states that this compels Zambian smelters to import concentrates from DRC.
He has however, reaffirmed the chamber’s commitment to working with the Government to finding solutions that will allow the mining industry in Zambia to sustain operations, protect jobs, support local communities and contribute to Government revenue.
In statement made available to QFM, Mr. Ng’andwe has noted that from inception, the Ministry of Finance and the Government at large are committed to fostering the sustainable operations of mining companies, as seen through its resolve to guide the line ministries, including the Zambia Revenue Authority on other issues such as Value Added Tax.
He states that this will surely help in continuing to contribute to job creation and poverty alleviation.