Copper prices have boosted mining revenues in Zambia

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Copper prices have boosted mining revenues in Zambia Feb 02, 2018

MiningWeekly quoted Reuters reported that the Zambian Ministry of Finance announced on Wednesday local time, due to rising copper prices in 2017, the country's mining growth.

Kingsley Chanda, an Zambian official with finance ministry, told the media that mining revenue is projected to reach 17% of GDP in 2018, up from 16.8% in 2017.

Zhan Da believes that the main reason for the increase in mining revenue is the rise in copper prices. From the current income tax return, there are signs that mining companies will profit.

In 2017, Zambia's Ministry of Finance budgeted mine revenues of 37.6 billion kwacha ($ 54.6 million), while actual revenue was 39.1 billion kwh, up 4.1%.

The net income target for 2018 is 44.6 billion kwacha.

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