Govt suspends royalties for copper miners :: Mmegi Online

Government has deferred royalty payments for the struggling copper miners, as part of efforts to save jobs in the mining industry, which has been hit hard by weak international commodity prices. When addressing the media in Gaborone yesterday, the minister of Minerals, Energy and Water Resources, Kitso Mokaila said the country’s two privately owned copper miners Discovery Metals and African Copper will be saved from paying royalties for up to a year.

“A decision has been taken to defer the payment of royalties for the copper mining companies. The decision will be reviewed after a year then we will decide whether the market has recovered enough for copper mining to become viable again, then they will pay the royalties. It is deferment not a write off.

It is part of measures being put in place to save jobs in the industry,” he said.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.