Higher mineral taxes in Zambia will have a severe effect on Lumwana Mining Company’s operations, driving its costs up, the copper miner’s country manager, Nathan Chishimba, told journalists on Tuesday. Earlier this year, Africa’s second-largest copper producing country increased royalties and introduced a new 10% tax on miners when the price of copper exceeds $7 500/t, prompting warnings it could tip many producers into the red.
