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Mnangagwa Says New Mining Royalty Rule Starts This Month

2 years agoSun, 09 Oct 2022 05:42:05 GMT
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Mnangagwa Says New Mining Royalty Rule Starts This Month

President Emmerson Mnangagwa has said a new policy which compels miners to pay half of their royalties in minerals and in cash will start this month to enable the country to build reserves of valuable minerals.

Writing in his weekly column published in The Sunday Mail newspaper, Mnangagwa said Zimbabwe seeks to build a national reserve of valuable minerals that include gold, diamond, platinum and lithium. He wrote:

To that end, we have decided on this new policy which is dynamic, and which for a start targets four of our key minerals.

Two of them are precious; they are gold and diamonds.

These must now be stockpiled both for prudence and inter-generational equity.

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The other two are high-value minerals, and these are lithium and platinum group of metals, PGMs.

Mining companies that operate in Zimbabwe include subsidiaries of Impala Platinum Ltd., Anglo American Platinum Ltd. and Sibanye Gold Ltd.

The southern African country has the world’s third-largest reserves of platinum, and also mines nickel, chrome, lithium, copper, tin and coal, among other minerals.

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9 Comments

j.j. · 2 years ago
Zvopera kubiwa zvese mirayi muone kana mchiti ndonyepa
allen · 2 years ago
Great move but i think very few people must have access to that reserve coz vakomana vanoba ivava
WILLIAM SONBOY CHINEMBIRI · 2 years ago
I want to commend His Excellency Advocate President ED Mnangagwa for initiating this noble idea of allowing companies to pay their royalties in half minerals and the other half in cash. [ GOLD, DIAMONDS, LITHIUM AND PLATINUM ]. This is a noble idea which allows the government to sell those minerals and raise money to use elsewhere. But His Excellency, how are going to deal with some surround you in your party and government who while you shout, [ NYIKA INOVAKWA NEVENE VAYO], they themselves shout, [ NYIKA INOURAIWA NEVENE VAYO]. They shout this from their hideouts and government offices. Once more His Excellency, you have good intentions which may bear fruits for the country especially when ....... [ ADVOCATE NELSON CHAMISA IS ON THE DRIVING SEAT AFTER THE 2023 HARMONISED ELECTIONS ]. Yours truly William Sonboy CHINEMBIRI [THE BUSH LAWYER4CCC].
Gezi free · 2 years ago
Looting spree kkkkk
i · 2 years ago
zvicherwa izvi
fun time · 2 years ago
I think the president is right on this one. We do not know the colour of platinum or cobalt or lithium. Only gold is held at Mmcz yet we have more than 27 minerals on the great dyke which when handled this way would improve the economy. There should be enough for everyone including thieves, like baboons in the fields of corn they can never destroy everything
Howard Ndaruza · 2 years ago
aluta continua..looting spree loaded
Jah🇿🇼Tsvarie-07 · 2 years ago
Let the players pay...

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