Back to today’s briefing

Story perspectives

Zambia to Accept Mining Taxes in Renminbi by 2025

1/8/2026

47 3

Summary

Story summary

The Bank of Zambia will allow mining taxes to be paid in renminbi (RMB) starting October 2025, in a pilot for four companies, with 73% still paid in US dollars.
Finance Minister Situmbeko Musokotwane said the program aims to reduce currency conversion costs and ease foreign-exchange pressure.
Bank Governor Denny Kalyalya said the shift supports diversifying reserves and managing China-related debt, since copper exports largely go to China.

1 of 1

Story summary

The Bank of Zambia will allow mining taxes to be paid in renminbi (RMB) starting October 2025, in a pilot for four companies, with 73% still paid in US dollars.
Finance Minister Situmbeko Musokotwane said the program aims to reduce currency conversion costs and ease foreign-exchange pressure.
Bank Governor Denny Kalyalya said the shift supports diversifying reserves and managing China-related debt, since copper exports largely go to China.