The Globe and Mail reports in its Friday edition Barrick Gold will suspend operations at its Zambian copper mine and record an impairment charge after the African country's government more than tripled its mining royalties. The Globe's Rachelle Younglai writes the suspension is the latest setback for Barrick, which borrowed heavily to acquire the Lumwana mine in 2011, when copper prices were soaring. Zambia's royalty will jump to 20 per cent from the current 6 per cent, under a new law that goes into effect Jan. 1. Barrick, which employs 4,000 workers at Lumwana, said it would start cutting jobs in March and idle the mine by the middle of the year. Copper is Zambia's main export. Barrick's production costs averaged around $2.98 (U.S.) a pound so far this year, just above the current copper price at $2.90 (U.S.). Since the day Barrick acquired the mine through its $7.3-billion Equinox Minerals purchase in 2011, it has been a headache for the company. Shareholders were confused over the gold company's foray into copper, and drove Barrick's stock down. The company has had to write down $3.8-billion (U.S.) in costs related to Lumwana. A fresh impairment charge will be recorded in the fourth quarter.