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Zimbabwe Gives First Details of New Mining Royalty Policy

Nov. 24, 2022, 4:06 PM

Zimbabwe provided the first details of how a new mineral royalty policy will be enforced, as the country considers more than doubling spending in 2023 to help revive an economy that exited a recession last year.

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 Minister Mthuli Ncube on Thursday breaks the payment down to half in mineral form, 40% in local currency and 10% in foreign-currency cash.

“Although traditionally, royalties are remitted in cash, it is pertinent ...