Zambia’s government this month began liquidation proceedings against Vedanta’s Konkola Copper Mines, after accusing Vedanta of lying about expansion plans and paying too little tax.
Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank for mineral-backed loans
The new government intends to look into establishing a mining tax and analyzing the possibility of taxing capital gains from the sale of mining rights.
Investors worry a referendum on mining in Imbabura, the province in which its flagship Cascabel copper-gold project is located, could jeopardize the mine's future.