Africa Mining: Zimbabwe lowers royalty fees on small gold mines

Zimbabwe gold miners
Zimbabwe small gold miners

Zimbabwe will reduce royalties levied on small-scale gold producers to 1% from 3% from September to boost output from the sector, Finance Minister Patrick Chinamasa said on Thursday. The Minister Chinamasa said deliveries of gold from small scale producers had increased to 3 117 kg between January and June, compared with 993 kg over the same period last year during a half-year budget presentation to parliament, 

“In order to consolidate the gains realised to date and taking into account the international commodity prices, I propose to further review the royalty rate on small scale gold producers,” he said.(Reuters)

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