April 23, 2015 / 12:07 PM / 3 years ago

Zambia's Lumwana mine overturns decision to halt operations - official

LUSAKA, April 23 (Reuters) - Zambia’s Lumwana open pit copper mine, owned by Barrick Gold Corp., has rescinded its decision to suspend operations after the cabinet reduced mining royalties, a senior government official said on Thursday.

Zambia’s cabinet set the royalty tax rate for open cast and underground mining at 9 percent on Monday, as well as a corporate income tax of 30 percent and a mineral processing tax of 35 percent when the law takes effect on July 1. (Reporting by Chris Mfula; Editing by James Macharia)

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