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(TALKZIMBABWE) Zimbabwe mining fees up by 5,000 p.c.

Zimbabwe mining fees up by 5,000 p.c.
Posted by By Our reporter at 5 February, at 14 : 44 PM Print

Zimbabwe mining fees have been raised by up to 5,000 percent, a report in The Sunday Mail said.

According to Statutory Instrument 11 of 2012, published on 27 January 2012, registration of diamond claims has increased from US$1 million to US$5 million with a new ground rental fee of US$3,000 per hectare per year.

Application fee for prospective coal investors has been increased from US$5,000 to US$100,000, while the registration or renewal fees is set at US$500,000.

In addition, there is now a new ground rental fee of US$100 per hectare.

Application fees for platinum claims — for both ordinary and special prospectors — is now pegged at US$500 000, up from US$200.

Application fees for platinum claims — for both ordinary and special prospectors — is now pegged at US$500 000, up from US$200.
However, registration fees for the metal have spiked from US$500 to US$2,5 million.

There has also been a raft of increases in licences for dealers in the mining sector as well.

A licence to deal in precious stones (cutting and polishing) and a gold-buying licence now attracts US$100 000 and US$5 000, up from US$20,000 and US$2,500 in that order.

Furthermore, a gold jewellery permit now attracts a US$2,000 fee from US$1,000, while a custom milling licence has been adjusted from US$2,000 to US$8,000.

Last week various mining groupings, especially small-scale miners, “rejected” the Zimbabwe mining increments, describing them as “ridiculuous” and “unsustainable”.

In a strongly worded letter addressed to Minister Obert Mpofu (pictured above) last week, the Confederation of Zimbabwe Miners (CZM) president, Mr Rangana Chauke, said the adjustments did not take into cognisance the plight and challenges that were faced particularly by indigenous miners.

Zimbabwe has the world’s second-largest platinum reserves after neighbouring South Africa.

Labels: INVESTMENT LICENSES, MINING

posted by MrK @ 5:53 PM