Business / Economy
Zim govt to review mining fees
25 Dec 2013 at 17:42hrs | Views
The Zimbabwe government has responded to mining companies' perennial pleas for a reduction of mining fees after Finance and Economic Development Minister Patrick Chinamasa indicated selected fees and charges would be reviewed.
Presenting the 2014 National Budget on Thursday last week Minister Chinamasa said he would review selected fees and charges in liaison with the Ministry of Mines and Mining Development to encourage investment in the sector.
He said although Government reviewed downwards mining fees and charges, some of the fees, however, remain relatively high compared to those obtaining in the region; hence continue to act as an impediment to investment.
"In order to encourage investment in prospecting and exploration activities and also enhance the viability of the mining sector, I propose to further review selected mining fees and charges in consultation with the Ministry of Mines and Mining Development," Minister Chinamasa said.
The finance minister said mining houses pay other fees and charges Government agencies such as the Environmental Management Agency, Radiation Protection Authority of Zimbabwe and Rural District Councils, which increased the cost burden of mining activities.
Presenting the 2014 National Budget on Thursday last week Minister Chinamasa said he would review selected fees and charges in liaison with the Ministry of Mines and Mining Development to encourage investment in the sector.
He said although Government reviewed downwards mining fees and charges, some of the fees, however, remain relatively high compared to those obtaining in the region; hence continue to act as an impediment to investment.
"In order to encourage investment in prospecting and exploration activities and also enhance the viability of the mining sector, I propose to further review selected mining fees and charges in consultation with the Ministry of Mines and Mining Development," Minister Chinamasa said.
The finance minister said mining houses pay other fees and charges Government agencies such as the Environmental Management Agency, Radiation Protection Authority of Zimbabwe and Rural District Councils, which increased the cost burden of mining activities.
Source - Herald
