Latest News reports Zambia, page-2

The new Zambian president Edgar Lungu's is flying to South Africa for medical treatment and the kawacha (Zambia's currency) has fallen to a 9 month low according to this report.

On the mining tax issues the report says.

"Concerns over Zambia's mainstay copper business, which remains at risk after government hiked mining royalties in January, has also dampened the outlook for the kwacha. The higher royalties triggered a dispute with companies such as Glencore and Vedanta Resources.

Plans by the government to relax rules that had prevented $600 million in tax refunds being paid to foreign mining firms, helped the kwacha recover briefly late last month, but the currency has since weakened because the dispute is yet to be resolved permanently."

http://www.dailymail.co.uk/wires/re...kwacha-9-month-lows-Lungu-health-worries.html

Eshmun