First Quantum Wants Nickel-Export Levy Waived

Bloomberg reported that First Quantum Minerals Ltd. believes the 10% levy that the Zambia government has imposed on nickel exports will threaten its newest mine and wants it waived.

As quoted in the market news:

Zambia, Africa’s biggest copper producer, introduced a 10 percent levy on the export of ore and concentrates in November 2011 as it sought to increase local value addition to mineral products. The government waived the levy for the export of manganese ore and concentrate in February last year.

Click here to read the full Bloomberg report.