Business / Economy
Mine exploration fees hikes to curb speculation: Zimbabwe
09 Feb 2011 at 09:31hrs | Views
Zimbabwe's government has increased exploration fees for new diamond and coal projects in a bid to discourage the speculative holding of claims, the Herald newspaper cited the Deputy Mines Minister Gift Chimanikire as saying.
Exploration fees for new diamond projects would rise to $1 million from $50,000 while that for new coal projects would now be $100,000 instead of $20,000, the Harare-based newspaper said. Fees for other minerals, including gold and chrome, would also be increased, the Herald said.
Chimanikire said the fee increases were meant to stop speculators from holding claims and to encourage only serious investors, the newspaper reported.
Exploration fees for new diamond projects would rise to $1 million from $50,000 while that for new coal projects would now be $100,000 instead of $20,000, the Harare-based newspaper said. Fees for other minerals, including gold and chrome, would also be increased, the Herald said.
Chimanikire said the fee increases were meant to stop speculators from holding claims and to encourage only serious investors, the newspaper reported.
Source - Byo24News
