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ZCCM-IH should consider increasing their shares

03/01/2019 par Titicopper 0
CCM-IH should consider increasing their shares in privatized mines above the current 20 percent
January 3, 2019

A local contractor in Solwezi has implored government and the mines in the province to come up with a solution which will benefit all affected parties in relation to the increased mining taxes.

Chesterfields Chief Executive Officer, Mathias Mutupa told ZANIS in an interview yesterday that government and mining firms that intend to lay off workers once the increased taxes are implemented should address the issue as partners to continue growing the country’s gross domestic product.

Mr. Mutupa, who is also former North-Western Chamber of Commerce president, said the talks which are anticipated to be held should strengthen the partnership which government has with mining firms in the country.

He also called on Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) to consider increasing their shares in some privatized mines above the current 20 percent.

Mr. Mutupa stated that there are a lot of benefits which can result from ZCCM-IH increasing its shares in privatized mines which can increase the country’s economic growth.

He disclosed that ZCCM-IH has been holding the 20 percent rate of shares in the privatized mining firm for too long despite the mines registering growth in terms of profits.

Mr. Mutupa urged ZCCM-IH to come up with ways in which it can start operating mines like private mines are doing.
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