December 17, 2017

Zambia’s treasury earns hundreds of millions from extractive industry

Zambia’s extractive industry reaffirmed its position as one of the biggest contributors to the national fiscus in 2013 and 2014.

According to the seventh Extractive Industry Transparency Report (EITI) report which was launched recently in the Zambian mining town of Kitwe, the extractive industry contributed K9.95 billion (about $900 million) in 2014 – an increase from K8.21 billion ($700 million) billion in 2013.

Notably, the bulk of the earning came from copper and cobalt producers who contributed contributed K8.10 billion (about 92.58 per cent). Cement producers added K460 million (representing 5.31 per cent), while the other extractive companies poured in K180 million (2.11 per cent) to the National Treasury.

The breakdown of companies which contributed is as follows in percentage:

  • Kansanshi Mines – 32.96
  • Mopani Copper Mines (MCM) at 11.51
  • First Quantum Minerals (FQM) – 9.70
  • Konkola Copper Mines (KCM) – 8.37
  • Kalumbila Mine – 7.58

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