Zambia’s chamber of mines sees 21,000 job cuts due to higher taxes
Africa's No.2 copper producer plans to introduce new mining duties, replace Value Added Tax with sales tax and increase royalties to help bring down mounting debt.
The southern African nation, which relies on hydropower for 85% of its electricity generation, is experiencing rolling blackouts amid an ongoing drought.
Copper boss Bold Baatar says Rio's goal of producing 1 million tonnes of the metal annually within the next five years will be achieved through organic growth.