Vedanta cuts output at Zambia Copper Smelter

Bloomberg Tax reported that Vedanta Ltd cut production at its copper unit in Zambia as the company blamed new mining taxes for making some operations unviable. In the letter distributed to employees on Jan. 4, Konkola Copper Mines said it has downsized output at the Nchanga smelter after Africa’s second-biggest copper producer introduced a 5 percent levy on imported concentrates. The smelter’s current margins are thin and completely eroded through this impact, resulting in high production costs.