Zambia: Barrick to keep Lumwana open

BARRICK Gold, the world’s biggest gold producer by output, would continue operating its Lumwana copper mine in Zambia while awaiting changes to the country’s mineral royalty tax, the company said on Friday. Barrick had said it would suspend operations after Zambia hiked mineral royalties for open pit mines to 20 percent from 6 percent in January. Major staff cuts to Lumwana’s 4 000 workers were planned for March, Toronto-based Barrick had said. “We are encouraged by the president’s recent statement and will carry on operating at Lumwana while we await details on the proposed solution,” a spokesman said. – Reuters