SMM, Feb. 2: Zambian Mining Minister Musukwa (Richard Musukwa) said on Friday that the country had sacked Pius Kasolow (Pius Kasolo), chief executive of Zambia United Copper Investment Holdings (ZCCM-IH), a state-owned mining investment company. But there was no reason.

Zambia, Africa's second-largest copper producer, raised the royalty rate by 1.5 percentage points from January 1 to 6 per cent and levied a new tax of 10 per cent when copper prices exceeded $7500 a tonne.

Musukawa said Friday that the new tax measures are not intended to curb mining operations and will not have a negative impact on ZCCM-IH 's business.

"the board of directors of ZCCM-IH informed me that Chief Executive Dr. Uthkasoro has been relieved of his duties," Musukawa said at a news conference with presidential spokesman Amos Chanda.

Louisa Mbata-Kakoma, a spokesman for ZCCM-IH, said the company was preparing to make a statement on Mr. Casolow's dismissal.

Zambia also plans to replace VAT with a sales tax by April to help reduce rising public debt.

Mining companies said last month that they could cut more than 21000 jobs as new tax measures reduced capital spending over the next three years.

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