Miners operating in Zimbabwe will have to pay some of their royalties in refined metal rather than cash effective 1 October 2022, President Mnangagwa has said.
Zimbabwe has abundant reserves of minerals such as gold and platinum group metals (PGM), but power supply problems, a lack of ancillary industries to support mining and currency fluctuations have prevented it from profiting from a resource boom.
“Starting this October, the government now requires that part of these royalties come as actual refined mining product,” Emmerson Mnangagwa wrote in a column in The Sunday Mail.
He said the policy would target four main minerals – gold, diamonds, PGMs and lithium.
Mnangagwa said the aim was to build a national reserve of precious metals and critical resources to benefit the current population and future generations.
