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First Quantum to cut 2,500 workers over Zambian tax plan

First Quantum Minerals Ltd. plans to cut 2,500 workers in Zambia in response to looming tax hikes, Reuters reported Dec. 21, citing the company.

The miner is set to lay off 1,250 workers at the Trident - Sentinel copper mine, also known as Kalumbila, and the same number at the Kansanshi copper mine in the first quarter 2019.

It had been reported that First Quantum planned to lay off 1,000 employees at Kalumbila.

The layoff plans come ahead of tax hikes set to take effect in 2019, with royalties climbing and new levies to be introduced.

First Quantum could not be reached for comment as of press time.