Tue. Aug 20th, 2019

Govt taxes KCM cobalt-Mines PS

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By JOHN SAKALA
Mines Permanent Secretary Paul Chanda says media reports suggesting that Konkola Copper Mines (KCM) cobalt is exported without being taxed are a lie.

Mr Chanda said that Government is very much aware of the cobalt exports from KCM which is exported as an alloy rather than pure cobalt.

He said cobalt is exported as an alloy because of its low quantities and government does tax KCM through ZRA.

“Journalists are encouraged to investigate before putting up screaming headlines,” he posted on The Independent Observer Media forum.

Media reports alleged that KCM has been exporting cobalt worth about US$20 million per month to Tianjin Maolian Science and Technology Company Limited of China without Government’s knowledge.

Today KCM was accused of having exported cobalt worth US$1.5 billion to the parent company of Nkana Mining and Mineral Processing Limited.

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