A new Zambian tax plan could cut into the profits of Canadian miners operating in the country, Royal Bank of Canada's investment unit RBC Capital Markets has announced.
Companies likely to be affected by the windfall mining tax regime include First Quantum Mineral and Equinox Minerals, according to RBC.
The Zambian Government, which has set the tax at 25 percent, has previously said it will raise mineral royalties to three percent from 0.6 percent and will boost the corporate tax on miners to 30 percent from 25 percent, writes Reuters.
By staff writer
