Zijin Mining: DRC new mining code causes a little pressure on cost
2018-09-07 17:47:15 [Print]
Upon the impact on production cost produced by DRC new mining code, Zijin Mining explained on 6 September that DRC new mining code has been put into effect with royalty at 3.5% and excess profits tax not yet levied because the copper price has not reached the standard; according to the current information, DRC new mining code would not cause too much pressure on the company's cost, but the specific impact is still being assessed.
On 9 March 2018, DRC President Kabila signed a new mining code, and royalties increased from 2% to 3.5% for large copper and cobalt mins with a creation of a special 50% tax on excess profits.
Zijin Mining mainly engages in the exploration, mining, smelting & processing and selling businesses of gold, copper, zinc and other mineral resources.
On 9 March 2018, DRC President Kabila signed a new mining code, and royalties increased from 2% to 3.5% for large copper and cobalt mins with a creation of a special 50% tax on excess profits.
Zijin Mining mainly engages in the exploration, mining, smelting & processing and selling businesses of gold, copper, zinc and other mineral resources.
Zinc Conc. 50%min EXW China
Unit:RMB/mtm
China zinc concentrate producers' number MoM output increase statistics by province by month
Unit: pcs
