UPDATE 1-Zambia cabinet approves changes to mining royalties

April 13, 2015 5:41 PM

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LUSAKA, April 13 (Reuters) - Zambia's cabinet approved changes to controversial mining royalties on Monday after the finance and mines ministers proposed amendments, the president's spokesman said.

"This follows extensive consultations with the mining industry in the light of significant changes in the fundamental assumptions upon which the law was based and the sudden fall in the price of copper," the presidency said in a statement.

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