Zimbabwe Adopted New Mining Policy

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04 Dec 2013 15:03 Jane Roberts

CHEMMONITOR.COM - The authorities of Zimbabwe passed a bill claiming about 25% mineral royalties and 50% dividends on mineral sales from all companies active in the mining industry, including also underperforming mines.

The Cabinet is going to issue forfeiture notices to speculators. This strategy is to redistribute mining licences to minor miners, what is expected to prevent companies to hold licences for “speculative purposes”.

Currently, foreign mining firms are obliged to sell 51% of their holdings to Zimbabwe or to any Zimbabwe company.

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