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Mines and Minerals Development (Amendment) Act, 2022

This amendment changes the copper mineral royalty rates in section 89 and says the Act starts on 1 January 2023.

amendmentcommencementcopper royaltiesmineral royalty
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Zambia
Structure
1 provisions
Citation
Act 29 of 2022
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“This amendment changes the copper mineral royalty rates in section 89 and says the Act starts on 1 January 2023.”

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This amendment changes the copper mineral royalty rates in section 89 and says the Act starts on 1 January 2023.

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This amendment changes the copper mineral royalty rates in section 89 and says the Act starts on 1 January 2023.

The Mines and Minerals Development (Amendment) [No. 29 of 2022 561 GOVERNMENT OF ZAMBIA ACT No. 29 of 2022 Date of Assent: 23rd December, 2022 An Act to amend the Mines and Minerals Development Act, 2015. [27th December, 2022 ENACTED by the Parliament of Zambia. 1. (1) This Act may be cited as the Mines and Minerals Development (Amendment) Act, 2022, and shall be read as one with the Mines and Minerals Development Act, 2015, in this Act referred to as the principal Act. (2) This Act shall come into operation on 1st January, 2023. 2. Section 89 of the principal Act is amended by the deletion of subsection (2) and the substitution therefor of the following: (2) Where the base metal produced or recoverable under the licence is copper, the mineral royalty payable shall be applied at an incremental value in each price range at the rate of — (a) four percent of the norm value when the norm price of copper is less than four thousand United States dollars per tonne; (b) six point five percent of the norm value when the norm price of copper is four thousand United States dollars or higher per tonne but less than Enactment Short title and commence- ment Act No. 11 of 2015 Amendment of Section 89 Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10101 Lusaka, Price K 4.00 each. 562 No. 29 of 2022] The Mines and Minerals Development (Amendment) five thousand United States dollars per tonne; (c) eight point five percent of the norm value when the norm price of copper is five thousand United States dollars or higher per tonne but less than seven thousand United States dollars per tonne; and (d) ten percent of the norm value when the norm price of copper is seven thousand United States dollars or higher per tonne.
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