Government says it will further reduce the mineral royalty tax for underground mining below the revised 9 percent.
Mines Minister, Christopher Yaluma says the move will help mines engaged in underground mining to operate efficiently and cost effectively.
ZNBC’s Yotam Mugara reports that Mr. Yaluma disclosed this when he held Bilateral talks with Japanese State Minister of Economy, Trade and Industry, Daishiro Yamagiwa in Tokyo.
He said government wants the revised mining regime to benefit both Zambians and Investors.
Mr. Yaluma also assured the Japanese government and investors that the PF administration does not condone corruption in its dealings.
And Japanese State Minister of Economy, Trade and Industry, Daishiro Yamagiwa said he will assist the Zambian government in wooing Japanese investors.
Dr. Yamagiwa however, emphasised the need for policy consistency and predictability if Zambia is to woo more investors.
He said Zambia’s peace and stability can be used as a catalyst for Foreign Direct Investment -FDI-.
The Minister was in Tokyo to attend the Second Japan-Africa Mining and Resources Business seminar 2015.