{"id":4712,"date":"2021-08-21T15:31:36","date_gmt":"2021-08-21T15:31:36","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment"},"modified":"2021-08-21T18:15:31","modified_gmt":"2021-08-21T18:15:31","slug":"zambian-mines-look-to-new-leader-to-unlock-2-billion-investment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment","title":{"rendered":"Zambian Mines Look to New Leader to Unlock $2 Billion Investment"},"content":{"rendered":"

Africa-Press<\/a> – Zambia<\/a>. <\/strong><\/span>Copper producers are ready to start expansion projects worth $2 billion in Zambia next year if the industry can reach an agreement on royalties with President-elect Hakainde Hichilema\u2019s new administration.<\/p>\n

Companies including First Quantum Minerals Ltd. and EMR Capital are ready to raise funding for the projects, while other producers need to spend \u201chundreds of millions of dollars\u201d in capital that they\u2019d held back since 2019 because of tax changes that deterred investment, the Zambia Chamber of Mines said.<\/p>\n

Despite Zambia\u2019s copper production edging higher to a record last year, output has largely stagnated over the past decade because of the industry\u2019s hostile relationship with outgoing President Edgar Lungu\u2019s government.<\/p>\n

In 2010, Zambia produced nearly twice as much of the metal as the Democratic Republic of the Congo to the north. By last year, Zambia\u2019s output was almost half that of the DRC\u2019s, limiting the benefit of record prices.<\/p>\n

\u201cThe president-elect has reset the tone to one of rebuilding confidence and spurring growth,\u201d Chamber of Mines President Godwin Beene said in response to emailed questions Thursday.<\/p>\n

\u201cThe industry is very positive that with this common-goal approach to the way forward, there will be more of a partnership with government than we have ever seen before.\u201d<\/p>\n

First Quantum, which accounts for more than half of Zambia\u2019s copper output, declined to comment. The mining companies\u2019 main request to the government is that they be allowed to deduct mineral royalties from the tax they pay on profits, according to Mr. Beene.<\/p>\n

They also want sliding-scale taxes that are levied on a pay-as-you-earn basis, he said. Mr. Hichilema, who won last week\u2019s elections by a landslide and has pledged to implement stable and predictable policies, is due to deliver his inauguration speech on Aug. 24 and is expected to make more detailed economic pronouncements.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. Copper producers are ready to start expansion projects worth $2 billion in Zambia next year if the industry can reach an agreement on royalties with President-elect Hakainde Hichilema\u2019s new administration. Companies including First Quantum Minerals Ltd. and EMR Capital are ready to raise funding for the projects, while other producers need to […]<\/p>\n","protected":false},"author":84,"featured_media":4711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[234,235,1940,1939,233],"class_list":["post-4712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-copper-producers","tag-first-quantum-minerals-ltd","tag-zambia"],"yoast_head":"\nZambian Mines Look to New Leader to Unlock $2 Billion Investment - Zambia<\/title>\n<meta name=\"description\" content=\"Copper producers are ready to start expansion projects worth $2 billion in Zambia next year if the industry can reach an ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zambian Mines Look to New Leader to Unlock $2 Billion Investment\" \/>\n<meta property=\"og:description\" content=\"Copper producers are ready to start expansion projects worth $2 billion in Zambia next year if the industry can reach an ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-21T15:31:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-21T18:15:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/08\/img-6121429068af0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"674\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Zambian Mines Look to New Leader to Unlock $2 Billion Investment\",\"datePublished\":\"2021-08-21T15:31:36+00:00\",\"dateModified\":\"2021-08-21T18:15:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\"},\"wordCount\":318,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2021\/08\/img-6121429068af0.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Copper producers\",\"First Quantum Minerals Ltd.\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/zambian-mines-look-to-new-leader-to-unlock-2-billion-investment\",\"name\":\"Zambian Mines Look to New Leader to Unlock $2 Billion Investment - 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