Browsing: mining earnings in Zimbabwe

A worker attends to machinery at a smelter plant at Anglo American Platinum's Unki mine in Shurugwi, Zimbabwe, May 16,

The government said several reasons have necessitated the new policy shift. The spike in mineral earnings ensures that there is revenue to support public expenditure while mineral reserves are also built to accumulate savings.

Zimbabwe’s President Emmerson Mnangagwa said a new policy that compels miners to pay half of their royalties in goods and half in cash will start from this month as the country attempts to make precious essence and mineral stashes for the first time.

The southern African nation will hold gold, diamonds, platinum and lithium reserves, Mnangagwa said in his daily column, published in the Sunday Mail review.…