- Write by:
-
Friday, September 30, 2022 - 14:17:42
-
973 Visit
-
Print
Mining News Pro - Zimbabwe wants gold, diamond and platinum miners to pay half of their royalties to the government in the commodities themselves and the rest in cash, as the southern African country seeks to build its mineral reserves.
The Treasury was concerned that the country does not have reserves of the minerals, which “serve as a source of trust in a country given that they carry no credit or counter party risks,” Secretary for Finance George Guvamatanga said in a letter sent to the Ministry of Mines on Sept. 2 and seen by Bloomberg.
Guvamatanga confirmed the Treasury’s plans in an interview on Friday. “It’s something we want to implement,” he said by phone.
Polite Kambambura, deputy mines minister, said in a phone interview that consultations are still being undertaken with miners, including multiple meetings this week. “The whole idea by the Ministry of Finance is that they want to store value of our royalty,” he said.
Mining companies that operate in the southern African country include subsidiaries of Impala Platinum Ltd., Anglo American Platinum Ltd. and Sibanye Gold Ltd. Zimbabwe has the world’s third-largest reserves of platinum, and also mines nickel, chrome, lithium and coal.
Short Link:
https://www.miningnews.ir/En/News/622232
Jiang Weiping, the founder of major Chinese lithium producer Tianqi Lithium Corp., resigned as chairman after the ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Impala Platinum could cut 3,900 jobs as it restructures its South African operations due to lower metal prices, the ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
No comments have been posted yet ...