SPEAKER of the National Assembly Patrick Matibini has directed Finance minister Alexander Chikwanda to explain the financial implications of the revocation of Statutory Instrument (SI) 89 of 2013, that suspended export duty on unprocessed copper and other minerals.
Mr Chikwanda on Monday issued a customs and exercise ores and concentrates export duty suspension amendment regulations 2013 being SI no 99 of 2013 which amended SI no 89 OF 2013.
This promoted MMD Mwandi Member of Parliament (MP) to raise a Point of Order requesting Mr Chikwanda to state if the money realized from the sale of copper ore and concentrates would be factored into the 2014 budget.
In his response the speaker reserved the ruling to the later date.
“I have adequately studied the point of Order to warrant ruling, Honourable members I therefore direct the minister of Finance to explain the financial implications of this measure when he winds up debate tomorrow on the budget estimates,” Mr Matibini said.
On October 4, 2013, Mr Chikwanda issued the SI 89 of 2013 to suspend the levy of export duty on ores and concentrates for a limited period from October 4 2013 to September 30 2014, the operation of the SI thus meant revenue loss to the government during the period that the law would be in effect.
However after the President’s intervention to revoke the SI 89 of 2013, Mr Chikwanda issued a customs and exercise ores and concentrates export duty suspension amendment regulations 2013 being SI no 99 of 2013 which amended SI no 89 OF 2013.
Has he not resigned yet?
No its the under 5 donkey who has resigned after having a bizarre dream that Mazoka had woke up from his grave & came to knock on the UPND secretariat.
He has reportedly resigned! Excellent news – too many dodgy decisions!!!!
If ba Chikwanda has resigned, then he has done a good thing for the nation. For who will have confidence in the Finance Minister after the public humiliation (cast live on ZNBC, Muvi etc)? And how will he reconcile his statement of revenue loss for the revocation of the SI which he was the author and reversor at behest of his master? His position as Minister became completely untenable after SI 89.
KCM to decommission nchanga mine. copper yamana badala
Imwe in as much as I dont like Sata, I support him to stop the export of copper ore and concentrates. I am speaking as a Metallurgist. Copper concentrates contains about 25-30% Copper (Cu) where as the remaining 70% contains other valuable minerals such as gold (in case concentrates from Kansanshi and Lumwana), cobalt (Co) and nickel. Why should we be exporting these raw material when we can be smelting these materials in the country and thus create employment? Why should we be exporting unprocessed copper and create employment in other countries where the raw materials are being exported to? Its a lie to hear that Zambia has no capacity to process concentrates. These investors are lying as its a way of “stealing” our natural resources from Zambia. I salute Sata for this
I salute Sata for this stance he has taken. I am actually surprised that he has not fired Chikwanda. Oh, Chikwanda is a family tree, so he is spared. But honestly speaking, the stance taken by the Presidency is welcome and is very important. We have smelters at Mufulira mine, smelter at Nkana mine, smelter at Nchanga mine and I think Kansanshi mine is bulding one. So such stockpile those concentrates for future processing in the country. I feel like we are just being robbed by these infestors. I like the patriotism showed by Mr. Sata. Keep it up
Good question Honourable Michael Kaingu. Thanx!
Chikwanda can ‘t see light at end of tunnel or is it the boat. He has since resigned becoming the first senior minister to do so.
Really, has he resigned? Nice one mweee, that is if its true. No one should side with these so called investors (or infestors). The are thieves and criminals.
Is that correct? Let him resign to redeem whatever remains of his public image. Honour and integrity are worth more than a plate of nshima with t-bone. Sebana wikute is a curse….lol!!
Imwe in as much as I dont like Sata, I support him to stop the export of copper ore and concentrates. I am speaking as a Metallurgist. Copper concentrates contains about 25-30% Copper (Cu) where as the remaining 70% contains other valuable minerals such as gold (in case concentrates from Kansanshi and Lumwana), cobalt (Co) and nickel. Why should we be exporting these raw material when we can be smelting these materials in the country and thus create employment? Why should we be exporting unprocessed copper and create employment in other countries where the raw materials are being exported to? Its a lie to hear that Zambia has no capacity to process concentrates. These investors are lying as its a way of “stealing” our natural resources from Zambia. I salute Sata for this.
I salute Sata for this stance he has taken. I am actually surprised that he has not fired Chikwanda. Oh, Chikwanda is a family tree, so he is spared. But honestly speaking, the stance taken by the Presidency is welcome and is very important. We have smelters at Mufulira mine, smelter at Nkana mine, smelter at Nchanga mine and I think Kansanshi mine is bulding one. So such stockpile those concentrates for future processing in the country. I feel like we are just being robbed by these infestors. I like the patriotism showed by Mr. Sata. Keep it up.
I agree with you; mines need to be taxed heavily as they exploit exhaustively a non renewable resource. Mines taxes anywhere are punitive compared to say agricultural taxes which are low to attract more activity in this renewable sector. So mines brace yourselves for higher taxes (also called rent)!!
Good call.I also want to know because i have a bad feeling about this.
Thanks HE MC Sata. We were going to be a loughing stock, exporting copper concentrates that easily and cheaply. Thinking in the minds of people can really go wrong. It is so simple. You prefer to go borrowing money than prudently protect your resources and only sell them profitably! What a wierd cracker.
I was wondering a few days ago about the reversal and i immediately knew the Hon Minister of Finance and National planning has to get back to explain the revocation. It clearly positioned those mining houses who have no such expensive facilities to further accrue special benefits from the Govt of the day. It has brought a lot of distress in the mining sector as such is viewed as favoritism. There is a huge capacity for smelting and Refining of Lubambe, Kansashi and Lumwana mine ores on the Copperbelt e.g Nchanga smelter and refinery at Mopani Mines. Please urge those miners lacking the facilities to quickly enter into agreements with the mining giants who posses the facilities. Lets create employment for our people.
@DON KING, Thats the kind of thinking we need in Zambia. Walya iweeee!
There is another one in Chambishi at Chambishi Copper Smelter which is state of the art
lololo,awe akulembeni,tulebelenga
let the old rug go too..he’s stealing ..
We are told that he has resigned. If it is true then who is going to answer all questions before the parliament approves it?
Sata did the right thing. Where on earth when we are crying for job creation and someone decides to export jobs to other countries. There was something fishy bane. If its true ba Alex has resigned his position then its ok coz national interest comes first. If First Quantum wants to start arm twisting methnds with Zambian then they will go faster than they came. They have not learnt from DR. Congo experience. If they cant follow our laws and want to gain at our expense they can pack their bags and go back to Canada after all the minerals they are mining are ours. Other investors can come and take it up.Every reasonable Zambia must support the action taken by HE Mr. M.C. Sata. National interest first no matter what. VIVA BA KATEKA. There could be many things going wrong under our noses.
OK agreed.