Decision on Kansanshi copper mine was prompted by renewed confidence in Zambia’s investment climate
A system of conveyor belts at the Nchanga copper mine, operated by Konkola Copper Mines Plc, in Chingola, Zambia. Picture: Waldo Swiegers/Getty Images
Since President Hakainde Hichilema’s election last August, Zambia has implemented business-friendly reforms including allowing mining companies to deduct mineral royalties from their income tax assessments. FQM also said it approved a further $100m investment in its Enterprise nickel project in Zambia, which it expects to start producing in 2023, ramping up to annual production of 30,000 tonnes of nickel in concentrate.
FQM and the government have also reached agreement on outstanding value-added tax repayments owed to it and an approach for repayments based on offsets against future mining taxes and royalties, the company said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Travis Scott performs at first public concert since Astroworld tragedy | ChannelTravis Scott performs at first public concert since Astroworld tragedy
Read more »
PICS | Robes, rewards and revelry: First in-person graduation since 2019 for UKZN students | News24It was ear-to-ear smiles as students at the University of KwaZulu-Natal attended in-person graduation ceremonies for the first time since 2019. | kaveels
Read more »
US unveils sanctions against Gazprombank executives for first timeG7 leaders pledge to phase out Russian oil imports over Ukraine war
Read more »
UK's first LGBTQ+ museum opens in LondonQueer Britain, the UK's first LGBTQ+ museum, opened its doors in London this week, promising to bring the history and culture of the community to a wider audience.
Read more »
Hillary Gardee murder: 3 accused set to make first court appearance, with EFF in attendance | News24Three people accused of killing Hillary Gardee will make their first court appearance on Monday, with the EFF closely monitoring proceedings. | ntwaagae
Read more »
Arthouse director Yorgos Lanthimos shots first film in Greece in over a decade | ChannelLeaning back in a purple lounge chair, Greek arthouse director Yorgos Lanthimos considers what kind of movie he might take on next.
Read more »