Local Council Rate Charges
December 22, 2014
Konkola Copper Mines plc (KCM) has been involved in negotiations with the local councils of Chingola, Chililabombwe and Kitwe regarding the payment of rates. Following a review of payments to the Councils earlier this year, it emerged that KCM has made significant overpayments.
KCM therefore had filed a notice under Section 19 of The Rating Act, Cap 129 of the Laws of Zambia seeking a reassessment of the past rates.
As a requirement under this filing KCM had to cease making rate payments to the Councils in August pending reassessment.
KCM and the Councils reached an interim resolution to this issue today, Monday 22nd December, although the underlying legal issues still need to be resolved.