December 21, 2018 / 10:43 AM / a year ago

First Quantum Minerals to lay off 2,500 staff in Zambia over tax hikes

LUSAKA, Dec 21 (Reuters) - Canada’s First Quantum Minerals said on Friday that it planned to lay off 2,500 staff in Zambia in the first quarter of 2019 over the government’s plans to increase mining taxes.

The layoffs will affect 1,250 employees at the Kansanshi mine in Solwezi and 1,250 at the Sentinel mine at Kalumbila, First Quantum Minerals said.

Zambia’s local mining body said on Thursday that the southern African country was pricing itself out of the global mining market with the proposed tax hikes. (Reporting by Chris Mfula Writing by Alexander Winning Editing by James Macharia)

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