| Zambian legislators are discussing proposals aimed at introducing a windfall tax for mining companies that would collect upwards of $400 million. Officials say the new mining tax regime "is likely to be approved by the end of this month." Nga'ndu Magande, Zambia's minister of finance, previously announced that the country would increase the corporate mining tax to 30% from 25%, raise the mining royalty fee to 3% from the current 0.6% and impose a 25% windfall tax on mining companies mining copper and other base metals. First Quantum, owner of Kansanshi Copper mine, Zambia's largest single copper mine, told the Mining Indaba conference Wednesday that the new taxes are likely to deter new entrants. Likewise, Equinox Minerals, owners of Lumwana Copper Mine, say that it would be unfair to apply it to companies that have not started output.
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