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Lumwana Commences Production

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Key elements of the original development agreement Equinox signed that are being honored by the government include tax free fuel, tax free power, import duties removed off plant and material required for the project, and the deferral of taxes until Equinox has paid off its bank debt. According to Michael, although the government does not want to create public perceptions that it is favoring any particular company, the new tax-laws were instituted with certain other companies in mind; companies that have been making windfall profits and have not been perceived to have invested much toward Zambia's social and economic development or contributed much in infrastructure.

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