No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
Global miners operating in Zimbabwe will have to pay some of their royalties in refined metal rather than cash, the country's president wrote in a newspaper on Sunday, as the country struggles ...
1. MINING –RATES OF ROYALTIES With effect from the 1 st January, 2011, the rates of royalties have been reviewed as follows:-
In a landmark ruling, Zimasco has emerged victorious in a legal battle against the Zimbabwe Revenue Authority (Zimra), securing a judgment that absolves the company from paying US$10 million in royalties.This decision follows an extensive examination of Zimasco's tax affairs, particularly concerning the calculation of royalties from 2019 to 2022.
Under the Mines and Minerals Act, miners have to pay taxes called royalties on the output from their mining locations. Royalties are paid to the Zimbabwe Revenue Authority …
The mining industry in Zimbabwe is not only rich in mineral resources but also subject to a nuanced taxation and royalty framework. In this article, we delve into the special rules governing taxation and royalties for exploration and mining entities operating within the country's mineral-rich landscapes. Special Tax Incentives for Miners Exploration and mining entities […]
The respondent is a limited liability company registered under the laws of Zimbabwe. It operates a mining lease title issued on 28 March 2001 and amended on 11 September 2001. It has the exclusive mining rights to 28 diamond mining claims covering 23 716 hectares in the Masvingo Mining District. ... the deductions in respect of mining royalties ...
Today Corruption Watch (CW) launched its 2018 Mining Royalties Research Report, highlighting the complexities and challenges in the management and distribution of mining royalties to people living in mine-affected communities, the majority of whom remain without any tangible benefits. Since 2004, South African law has decreed that mineral and petroleum …
The Zimbabwe Revenue Authority (ZIMRA) has advised miners and Mining companies to cease with immediate effect, remitting mining royalties to the Reserve Bank of …
ZIMBABWE'S Chamber of Mines has proposed linking royalty payments to metal prices in order to protect operations during a market downturn.. The propsals, reported by Bloomberg News, were made to the Ministry of Finance and include the lithium and platinum group metals sectors. Regarding the under-pressure lithium industry, the chamber said its …
Miners operating in Zimbabwe will have to pay some of their royalties in refined metal rather than cash. The country's president announced the move in a newspaper on Sunday (Oct 9), as the country ...
Zimbabwe plans to increase royalty rates on platinum producers and introduce one for lithium miners from Jan. 1 as part of efforts to boost its coffers that have come under strain from weakening ...
Zimbabwe's multi-billion-dollar mining sector has been granted the nod to pay part of their royalties, taxes and rural district council levies in local currency in a major boost for the capital intensive sector. The sector …
4. TYPES OF MINING RIGHTS. The following constitute the main types of mining rights available in Zimbabwe. 5. MINING LICENSE FEES Statutory Instrument 185 of 2021 currently sets the prevailing Licensing fees for the acquisition of various mining rights. 6. ROYALTIES & MAIN TAXES Royalty rates are set through the Finance Act and are paid in ...
HARARE – The Reserve Bank of Zimbabwe (RBZ) has issued a directive for deducted mining royalties to be collected solely by the Zimbabwe Revenue Authority (ZIMRA) to restrain bureaucracy. In a statement, RBZ Director Farai Masendu said payments of royalty fees and commissions on mineral receipts previously paid through the Minerals Marketing ...
Zimbabwe's mining sector is recognized as a key player on the global stage, due to its rich deposits of valuable minerals, including gold, diamonds, platinum group metals (PGMs), lithium, chrome, coal and natural gas. ... Ltd or any other person as a collecting agent of royalties in kind. Zimbabwe's mining sector presents significant ...
In this article, Mining Zimbabwe sheds light on some of the key ways in which the public benefits from mining in Zimbabwe. ... Taxes associated with mining operations can include corporate income tax, royalties, and contributions to social programs. This revenue is crucial for funding education systems, healthcare services, infrastructure ...
The royalty policy that came into effect in October compels miners to pay half of their royalties in minerals and the rest in cash. The plan presented by Zimbabwean Finance …
This growth in mining earnings coupled with recently increased royalty rates for platinum and lithium translates to more government revenue from mining royalties. The southern African country recently announced reforms of the mining royalty policy regarding precious metals and high-valued minerals – gold, diamonds, platinum group of metals ...
Lithium mining in Zimbabwe is a relatively new phenomenon fueled by the reconfiguration of the global automotive industry in favor of EVs. There is thus very limited scholarly research on the extraction and export of lithium and indeed other CRMs. ... These undermine the ability of the government to benefit from taxation and royalty payments ...
However, there is a prevailing sense of pessimism regarding Zimbabwe's mining outlook. The mining index, as measured by the Zimbabwe National Chamber of Commerce (ZNCC), experienced a notable growth of 9.4% in 2022. However, the most recent survey conducted by the ZNCC indicates a decline in this positive trend, with the index falling to -0.3%.
in the Mining Sector in Zimbabwe The Case of Chivi, Gwanda, Hwange, Marange, Mutoko and Penhalonga Investing In People For Social and Economic Justice In Zimbabwe ... and royalties are channeled to the national treasury. Local governments are entitled to unitary tax, which is charged per unity comprising of 10 unskilled laborers. With
Zimbabwe has passed regulations allowing the state to collect mining royalties partly in the form of minerals, according to a government notice seen by Reuters on Tuesday, …
Miners in Zimbabwe are obligated to pay royalties to the State from the minerals they would have extracted. Royalty is a charge that the government levies on the volume of minerals produced at a mine or the income or profit made from the sale of those minerals.
Companies mining specified minerals are now required to pay 50 percent of their royalties in kind with effect from October 1, 2022, the Reserve Bank of Zimbabwe (RBZ) …
Zimbabwe's mining sector is recognized as a key player on the global stage, due to its rich deposits of valuable minerals, including gold, diamonds, platinum group metals …
Mineral royalties accounted for 2.8% of Zimbabwe's tax revenue in 2021, Zimbabwe Revenue Authority data shows.
Since 2018 Zimbabwe has re-focused its attention on the mining industry's potential, thus re-structuring its policies and regulatory framework. In this article our Mining Law Practice group outlines the Major Mining Tax Highlights for 2024. The new Finance Act, 2023 (No. 13 of 2023),which came into operation on the 1st of January 2024 implements most […]
Through Statutory Instrument 189 of 2022, the government of Zimbabwe has promulgated new regulations to the effect that mineral royalties are to be paid partly in kind …
Companies mining specified minerals are now required to pay 50 percent of their royalties in kind with effect from October 1, 2022, the Reserve Bank of Zimbabwe (RBZ) announced in a statement ...
Minister of Mines and Mining Development Hon Soda Zhemu said that he was not adequately informed about the concerns raised by Mining Executives regarding high government fees and royalties that are hindering the mining industry growth. The mining industry in Zimbabwe has been grappling with challenges due to falling international commodity prices since 2023.
