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Saturday, 27 September 2008

Where is the copperbelt headed?

Up, but with huge caveats. Thats according to a recent RBC Capital Markets assessment reported by miningmx :

The analysts were far more negative on the proposed tax reforms in Zambia which they described as “very onerous and could potentially cause significant reduction in profits for copper and cobalt companies in the country.” They added, “the changes reflect a change in political risk climate. Zambia was traditionally seen as a safe mining house, where substantial profits could be realised with the support of government. It now appears that the uncertainty surrounding the tax changes and their potential onerous effects may serve to reduce investment from international mining companies.”

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