High royalties and tax payout for Kansanshi, Kalumbila
The latest Zambia Extractive Industry Transparency Initiative (ZEITI) report has indicated that First Quantum Minerals (FQM) contributed the majority of government revenue generated from the extractive sector in 2019. According to the report, the mining giant’s two subsidiaries – Kansanshi Mining Plc and Kalumbila Minerals Ltd, contributed K5.7 billion and K2.6 billion respectively, representing 31 percent and 14.4 percent of total payments in the year. FQM’s total contribution of K9,347 billion – which includes K973.65 million from First Quantum Mining and Operations – represented 51 percent of the K18.4 billion…
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