- Barrick Gold (ABX +1.4%) says it will continue to operate its Lumwana copper mine in Zambia while awaiting changes to the country's mineral royalty tax.
- ABX had said it would suspend operations and make major staff cuts after Zambia hiked mineral royalties for open pit mines to 20% from 6% raised the royalty tax rate on underground mines to 8% from 6%.
- Zambia's President Lungu this week directed the finance and mining ministers to change royalties on mining firms by April 8, saying the government could consider temporarily reverting to the 2014 tax regime while a new rate is negotiated.