Zambia Introduces 10-percent Export Duty on Semi-processed Base Metals

Reuters reported that Zambia, Africa’s top copper producer, has introduced a 10-percent export duty on semi-processed base metals, including copper. The move follows the country’s suspension earlier this month of a 10-percent export duty on unprocessed metals exports.

As quoted in the market news:

Zambia this month suspended the export duty on unprocessed metals after mining firms said they had accumulated too much stock because of limited local smelter capacity.

Yamba said a 15-percent import duty would be imposed on semi-processed copper products such as blister, which the country buys from neighbouring Democratic Republic of Congo.

The import and export duties on semi-processed metals are intended to encourage local value addition and to create employment, Yamba said.

Click here to read the full Reuters report.