Fourth edition of the Zambia International Mining and Energy Conference
The 4th edition of ZIMEC went on this week at the government complex with the theme "Securing Zambia's growth by ensuring the sustainable development of it's mineral and energy resources". The conference featured two parallel streams focused on mining and energy. It drew many big sponsors from mining giants First Quantum Minerals to big 4 audit firm Delloite. First Quantum and Barloworld shared first prize for the best exhibition.The conference is normally attended by individuals in the public and private sector and is a great place to gain insight on the mining and energy sector.
A couple of interesting points came out of the conference. Firstly, slightly over $600m in VAT refunds were being witheld from major mining players by the government as at end of May for failing to produce import receipts from destination countries. Mining players have always stood by the fact that they sell their copper through middlemen/traders. The Minister of mines did however reveal that the miners have started producing the correct documents after a meeting with the Ministry of Finance 3 weeks ago. Could this impasse finally be coming to an end?
Zambia Railways launches Kapiri-Mposhi to Nakonde passenger service
Zambia Railways launched the Kapiri-Nakonde passenger rail service at a cost of $1.5m on Sunday June 22 after an agreement was reached with TAZARA. The service will be able to ferry 700 people at a time. This was also followed up by news that construction of the $1bn North-West railways project was set to commence this year with phase 1 (Kalumbila-Solwezi-Chingola) set for completion in 2015.
Treasury collects surplus revenue in May 2014
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *