Zambia to halt raw copper exports

raw copper
raw copper

GOVERNMENT intends to come up with a Statutory Instrument (SI) that will proscribe export of unprocessed minerals in order to add value to the resource within the country.
Energy, Mines and Water Development Minister Christopher Yaluma said the country was losing revenue in the unprocessed minerals; a situation he said must be put to an end.

Mr Yaluma said mining companies that were exporting role copper and other minerals were making huge profits as well as creating jobs for the people in the countries in which the processing was done.
Mr Yaluma was speaking in an interview with Business Day TV of South Africa anchored by Alishia Seckam during the ZAMEC conference closing in Lusaka on Friday.
He said through the SI compelling mining companies to process the minerals in Zambia, the country would benefit largely through job creation and value addition to the minerals.

The Government in 2013 introduced duty, which was aimed at curbing the export of unprocessed minerals but was later suspended.
According to the SI, the affected items included ores, concentrates and other substances containing copper, iron, nickel, cobalt, aluminum, lead zinc, tin, chromium, tungsten, uranium, silver and several others.
The SI number 89 of 2014 was then signed by Finance Minister Alexander Chikwanda to suspend the export duty on a catalogue of mineral ores and concentrates from October 4 2013 to September 30 2014.