First Quantum to pay $1bn tax
January 19, 2013 News
First Quantum Mineral projects to pay in excess of US$1 billion in profit tax to the Zambian Government annually once Sentinel Mine at Trident comes on stream in 2014.
By MAIMBOLWA MULIKELELA –
FIRST Quantum Minerals (FQM) has projected to be paying in excess of US$1 billion in profit tax to the Zambian Government annually once Sentinel Mine at Trident comes on stream in 2014.
FQM resource optimisation manager John Gladston said in Lusaka yesterday that the mining company was committed to paying taxes to the Government and was set to pay $1 billion once the expansion programme, including the development of Sentinel Mine at Trident, comes on board.
In an interview, Mr Gladston said with the expansion of Kansanshi Mine and the coming on line of Sentinel Mine, FQM would be in a position to pay in excess of $1 billion per year, adding that Kansanshi would increase its copper output, with the addition coming from Sentinel Mine.