Zambia to reduce underground mining royalties to 6 pct -presidency

Fri Jun 5, 2015 7:52am EDT
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LUSAKA, June 5 (Reuters) - Zambia's government will cut mineral royalties for underground mines to 6 percent, lower than the 9 percent proposed earlier, the presidency said on Friday.

"Mineral royalty tax will be reduced to 6 percent from the earlier proposed 9 percent. It will remain at 9 percent for open pit mines," presidential spokesman Amos Chanda told Reuters. (Reporting by Chris Mfula; Writing by Mfuneko Toyana; Editing by James Macharia)