[…]check on all mining and non-mining rights. While the department is closed, there is a suspension on license applications. However, the public can still perform a few activities at the department, including conducting searches; and attending to queries. The expectation is that some of the mining sector reforms will cover matters around license/permit applications, and general compliance requirements of mining companies. It is unlikely that the reforms will apply […]
[…]establish a mining regulatory institution which will be responsible for issues relating to non-compliance and regulation in the sector. enhance reporting requirements of production, costs and mineral content; acquisition of golden shares in mining companies by the government; formalize artisanal and small scale mining in Zambia; ensure that artisanal and small scale miners have access to affordable capital and partner with foreign investors through Joint Ventures; introduce a lower tax regime for artisanal and small scale miners; create offtake market opportunities and streamline the taxation system in the mining sector; formalize trade in gold by licencing buyers of gold and […]
[…]Mkokweza Date: 02 February 2024 Africa has once again become an important focal point destination for investment capital in the metals and minerals sector and Zambia is one of those hot beds. We have experienced significant increase in activity in the M&A space and with respect to both brownfield projects as well as greenfield projects. One country specific development is in the policy space. While the main fiscal and general policy regime has remained stable for the past few years, and should generally continue this way with respect to the ‘big’ policy issues, we nevertheless expect to see some interesting […]
[…]measure has been proposed to reduce the PTT rate on the transfer of mining rights held by exploration companies from 10% to 7.5%. This is a welcome move as the intention is to encourage mining exploration and increase investment in the exploration sub-sector. This will bring to light the true mineral wealth of the country and accelerate the development of new mines, thereby stimulating growth of the economy by boosting production, and improve the livelihoods of the Zambian people through the creation of jobs. Tax payable on indirect transfers of shares The 2023 budget also seeks to introduce further clarity […]