Story perspectives

Zambia Accepts Yuan for Mining Royalties, Boosts China Ties

1/1/2026

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Summary

Story summary

Chinese mine operators in Zambia began paying royalties and taxes in yuan, marking a currency shift.
The Bank of Zambia confirmed the move, which began in October, aligning with China’s yuan internationalization effort.
Since 2018, the Bank of Zambia has implemented regulations to bolster dollar reserves, allowing tax payments in dollars or renminbi.
Canadian companies dominate copper output, while Chinese firms invest heavily in Zambia's production.

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Story summary

Chinese mine operators in Zambia began paying royalties and taxes in yuan, marking a currency shift.
The Bank of Zambia confirmed the move, which began in October, aligning with China’s yuan internationalization effort.
Since 2018, the Bank of Zambia has implemented regulations to bolster dollar reserves, allowing tax payments in dollars or renminbi.
Canadian companies dominate copper output, while Chinese firms invest heavily in Zambia's production.