Steel News

We strive to let you one step ahead of the market.

Zambian government decides to severely punish illegal miner

18 Jun 2019 15:52 reported by Hazel Chen

A A A
It was reported that Zambian President, Edgar Lungu, announced last week that the government would punish those mining companies that did not comply with the law and would sever relations with them. Lungu hoped that the mining companies could comply with the laws of Zambia during the exploration and development process.

In May, the Zambian government decided to entrust a provisional liquidator to take over the Konkola Copper Mines (KCM) owned by Vedanta India, which violated the license terms. Vedanta strongly opposed this decision and has sought international arbitration.

Despite facing opposition from mining companies, the Zambian government was determined to replace the value-added tax with a new non-return sales tax.

Lungu said that the government was ready to negotiate with the mining companies but would not accept those companies that didn't fulfill their obligations.

Back to Steel News

Related News

Ukraine imposeds anti-duming duty against steel wires and wire rops from Russia

  • Government policies
  • 28 Feb 2020 11:20

USDOC to not levy AD or CVD duty on imported fabricated structural steel from China, Mexico, Canada

  • Government policies
  • 27 Feb 2020 17:11

Thailand to impose AD duties against imported steel products from Vietnam

  • Government policies
  • 27 Feb 2020 16:33

USITC rejects to levy AD & CVD duties on imported structure steel from Canada & Mexico

  • Government policies
  • 27 Feb 2020 16:27

USDOC to not impose AD & CVD on imported structural steel from Canada, China, Mexico

  • Government policies
  • 26 Feb 2020 16:10

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 1,998.00
  • 2,019.50
  • Aluminum
  • 1,670.50
  • 1,690.00
  • Copper
  • 5,617.50
  • 5,638.00
  • Nickel
  • 12,275.00
  • 12,360.00

Learn more

Coil Exchange Center

  • 2B Coil-Mar
  • 2,410
  • 2,270
  • NO1 Coil-Mar
  • 2,380
  • 2,240
  • 2B Coil-Mar
  • 2,410
  • 2,270
  • NO1 Coil-Mar
  • 2,380
  • 2,240

Learn more