Frederick Bantubonse (Chamber of Mines) presentation to the Economics Association of Zambia last week on mining development : Chamber of Mines Presentation to EAZ- 2 Dec 2009
Phase 3 Post Privatisation 2000 to 2008Investment - International metal prices start to increase - rose by 269% on average at its peakAccording to Infomine (chart) In the last 10 years, copper prices went from about $1500/tonne to $9000/tonne - an increase of 600%, not 269%.If you can't even trust the mines with publicly available data, how can we trust them to correctly list all their profits so they can be taxed? I would say we can't.
and I add that while mining company only pay very little taxes .. and at the same time mining company pay only ridiculous dividends to ZCCM-IH .. where does the money go ?ZCCM-IH would have to take 51 % in all mining company ! a good solution.
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