Mines and Minerals Development (Amendment) Act, 2018 (No. 11 of 2018)

(a) in subsection (1) (a), by the insertion of a comma and the words “cobalt or vanadium” immediately after the word “copper”;

(b) by the deletion of subsections (2) and (3) and the substitution therefor of the following: (2) Where the base metal produced or recoverable under the licence is copper, the mineral royalty payable is at the rate of— (a) five point five percent of the norm value when the norm price of copper is less than four thousand five hundred United States dollars per tonne; (b) six point five percent of the norm value when the norm price of copper is four thousand five hundred United States dollars or higher per tonne but less than six thousand United States dollars per tonne; Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10101 Lusaka, Price K4.00 each. Mines and Minerals Development 328 No. 18 of 2018] (Amendment)

(c) seven point five percent of the norm value when the norm price of copper is six thousand United States dollars or higher per tonne but less than seven thousand five hundred United States dollars per tonne;

(d) eight point five percent of the norm value when the norm price of copper is seven thousand five hundred United States dollars or higher per tonne but less than nine thousand United States dollars per tonne; and

(e) ten percent of the norm value when the norm price of copper is nine thousand United States dollars or higher per tonne. (3) Where the base metal produced or recoverable under the licence is cobalt or vanadium, the mineral royalty payable is at the rate of eight percent of the norm value of the cobalt or vanadium produced or recoverable. (4) A person that is in possession of minerals extracted in the Republic for which mineral royalty has not been paid is liable to pay mineral royalty at the rates set out in subsections (1), (2) and (3).;and (c) by the renumbering of subsections (4) and (5) as subsections (5) and (6), respectively.