WIND FALL TAX MAY REBOUND SAYS SIMUUSA

Mines Minister, Wilbur Simuusa says wind fall tax might be re-introduced.

According to the Reuters, Mr Simuusa says this is if copper prices hit the 10,000 dollars per tonne mark.

Currently, the copper prices on the London Metal Exchange is at 8,580 dollars per tonne.

Mr Simuusa has been quoted saying that the projections are that it will hit 10,000 dollars and at that time it may be necessary to sit around the table and discuss.

Zambia last scrapped the 25 percent windfall tax in 2009 following complaints from mining companies that it raised production costs and discouraged investment.

The government also doubled royalties on copper to six percent in the 2012 national budget, a move miners have warned may cause them to scale back operations.