News / National
Government repeals mining fees hike
25 Feb 2021 at 16:01hrs | Views
GOVERNMENT has reverted to old mining and registration fees after the Zimbabwe Miners Federation (ZMF) engaged the authorities to review the recent increases.
Last week, the Ministry of Mines and Mining Development hiked mining and registration fees by over 800 percent, pegging them in United States dollars.
The Government said the repealing of the rates has been made in terms of section 403 of the Mines and Minerals Act (Chapter 21:05).
"The Minister of Mines and Mining Development…made the following regulations: -
these regulations may be cited as the Mining (General) (Amendment) Regulations, 2021 (No. 25).
"Mining (General) (Amendment) Regulations, 2021 (No 24), published in Statutory Instrument 44 of 2021, are repealed," it said.
The rates are now pegged in local currency.
For instance, an ordinary prospecting licence is now pegged at ZWL$1000 from US$100, which translated to ZWL$8 300 at the prevailing interbank rate.
A special prospecting licence that had been pegged at US$750 has been reviewed to ZWL$3 750, the application for revocation of forfeiture, which had been increased to US$1 000 is now pegged at ZWL$5000.
An application for an Exclusive Prospecting Order (EPO) is now at ZWL$10 000 from US$2 000 (non-refundable).
Last week, the Ministry of Mines and Mining Development hiked mining and registration fees by over 800 percent, pegging them in United States dollars.
The Government said the repealing of the rates has been made in terms of section 403 of the Mines and Minerals Act (Chapter 21:05).
"The Minister of Mines and Mining Development…made the following regulations: -
these regulations may be cited as the Mining (General) (Amendment) Regulations, 2021 (No. 25).
"Mining (General) (Amendment) Regulations, 2021 (No 24), published in Statutory Instrument 44 of 2021, are repealed," it said.
The rates are now pegged in local currency.
For instance, an ordinary prospecting licence is now pegged at ZWL$1000 from US$100, which translated to ZWL$8 300 at the prevailing interbank rate.
A special prospecting licence that had been pegged at US$750 has been reviewed to ZWL$3 750, the application for revocation of forfeiture, which had been increased to US$1 000 is now pegged at ZWL$5000.
An application for an Exclusive Prospecting Order (EPO) is now at ZWL$10 000 from US$2 000 (non-refundable).
Source - chronicle
