MINES FACE NEW METAL EXPORTS RULES NEXT YEAR

Enhanced and new mineral export guidelines are expected to be enforced next year alongside some fiscal policy measures in Zambia’s 2012 national budget.

Among the new measures is the doubled mineral royalty tax to 6 per cent for base and precious minerals.

However, following a presidential directive, all metals exports will now be administered through the country’s central bank on reasons of enhancing transparency and accountability.

Mines Minister, Wilbur Simuusa has told the REUTERS online that a committee put in place over he matter is soon concluding its work.

Mr Simuusa has stated that himself and his Finance colleague, will have to meet to approve the guidelines being formulated by the respective committee.

The REUTERS has further revealed that data shows much of Zambia's exported copper destined for Switzerland but little of it shows up in Swiss customs figures, raising questions about transparency.

And Mr Simuusa has also revealed of new guidelines for the issuance of mining licences, with his ministry playing a much bigger supervisory role.