Issues surrounding the new mine tax need to be addressed – Thornton


BRITISH High Commissioner to Zambia James Thornton says resolving the impasse in the mining sector is critical to ensure investor confidence in Zambia’s investment climate.
Mr Thornton said there is need to address the issues surrounding the new mine tax, which has resulted in the increase in mineral royalty tax to 20 percent from six percent for open cast mining operations, a move mining companies have condemned.
“I welcome the fact that the President is now engaging directly with the mines. I hope that will lead to agreement on the best way forward for the industry. Such an agreement will be really important for the way that Zambia is perceived abroad as a place to invest,” he said.
Mr Thornton said this on Thursday evening during the launch of the British Chamber of Commerce in Zambia, which is aimed at promoting trade, investment and commercial relations between Zambia and the United Kingdom.
He said the UK government supports President Lungu’s move of ensuring that the country has predictable policies to spur investments.
Mr Thornton also said that the UK government will continue to promote trade with Zambia.