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Monday, 22 September 2008

Holding out for a better deal...

Yet another sign that the Government's will on the mining legislation has been broken. First Quantum Minerals has announced that it expects Zambia will agree to a compromise on the new mining tax regime in coming months, presumably betting on the MMD remaining in power or may be they are hoping for a PF government? The Patriotic Front has not publicly reversed its opposition to the new regime. If anything their latest statement of intent is even more cautious about higher taxes. At the moment UPND is the only party that appears to support higher mining taxes.

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