{"id":9652,"date":"2012-04-05T03:51:00","date_gmt":"2012-04-05T01:51:00","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/zimbabwe-says-reviewing-mine-fees-after-industry-uproar\/"},"modified":"2012-04-05T03:51:00","modified_gmt":"2012-04-05T01:51:00","slug":"zimbabwe-says-reviewing-mine-fees-after-industry-uproar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/zimbabwe-says-reviewing-mine-fees-after-industry-uproar\/","title":{"rendered":"Zimbabwe says reviewing mine fees after industry uproar"},"content":{"rendered":"

\t\t<\/span><\/p>\n

By Nelson Banya<\/span><\/p>\n

<\/span><\/p>\n

HARARE, April 4<\/span> (Reuters) – Zimbabwe is looking into
\ncomplaints by the mining industry that steep hikes in its fees
\nand taxes will seriously hurt miners by taking 60 percent of
\nevery dollar they earn, an official said.<\/p>\n

<\/span><\/p>\n

“The ministry is presently reviewing the impact of these
\nfees on the mining sector,” Prince Mupazviriho, the permanent
\nsecretary in the Ministry of Mines, told a mining conference in
\nHarare on Wednesday.<\/p>\n

<\/span><\/p>\n

He offered no details on whether the ministry might reduce
\nthe fees.<\/p>\n

<\/span><\/p>\n

The southern African country hiked pre-exploration fees for
\nmost minerals by as much as 8,000 percent in January.
\nRegistration charges for platinum and diamond claims rose to
\n$2.5 million and $5 million, respectively, in a move it said was
\nmeant to curb the speculative holding of mine titles.<\/p>\n

<\/span><\/p>\n

Miners also must now pay annual ground rentals ranging from
\n$500 per hectare for chrome to $3,000 per hectare for diamonds.<\/p>\n

<\/span><\/p>\n

President Robert Mugabe’s ZANU-PF party also is forcing
\nforeign mining companies to hand over majority stakes to
\nZimbabweans, which analysts say is a way to bolster the party’s
\ncoffers ahead of an election expected next year.<\/p>\n

<\/span><\/p>\n

In February the Zimbabwe Chamber of Mines told a
\nparliamentary committee hearing that fees and royalty increases
\nof 7.5 percent for gold and 10 percent for platinum announced in
\nthe 2012 budget would hit miners who have yet to fully recover
\nfrom a decade-long economic crisis.<\/p>\n

<\/span><\/p>\n

“It’s estimated that 60 percent of every dollar earned in
\nrevenue goes to the government, making Zimbabwe one of the most
\nexpensive countries to mine,” the chamber’s vice president,
\nAllan Mashingaidze, told the committee.<\/p>\n

<\/span><\/p>\n

Zimbabwe’s mining industry has overtaken the troubled
\nagriculture sector as the main foreign exchange earner,
\ncontributing $2.6 billion to its $4.4 billion total export
\nearnings in 2011.\t<\/p>\n

(Reporting by Nelson Banya; Editing by Jon Herskovitz and Jane
\nBaird)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

By Nelson Banya HARARE, April 4 (Reuters) – Zimbabwe is looking into complaints by the mining industry that steep hikes in its fees and taxes will seriously hurt miners by taking 60 percent of every dollar they earn, an official said. “The ministry is presently reviewing the impact of these fees on the mining sector,” […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9652","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9652"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}