Zimbabwe may reduce mining fees

Zimbabwe may reduce mining fees by half according to deputy Minister of Mines Gift Chimanikire. He said his ministry had already applied to the Ministry of Finance for the reduction and was awaiting a response. Zimbabwe raised licence fees for mining platinum from $200 to $500 000 last year to deter speculators from holding on to mining claims, but the move was reported to be affecting genuine mining operations. Platinum mining operations in Zimbabwe have become more profitable for South African mining companies like Impala Platinum, currently the largest platinum miner in Zimbabwe, because of labour relations problems in South Africa.

(49 VIEWS)