×
314
Fashion Jobs
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TAKSHAKA INTERIORS
Req. Production Manager/Executive -Wood Furniture
Permanent · Gurugram
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
SKYNET OUTSOURCING SERVICES
Production Manager Api Industries-Bharuch,Ankelshwar Location
Permanent · Bharuch
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Quality Manager / Quality Head - Garments Manufacturing Company
Permanent · National Capital Region
NIKE
Senior Technical Product Manager, ed&a – Tpmo
Permanent · Bengaluru
RANDSTAD
Area Sales Manager
Permanent · Gurugram
3F INDUSTRIES
Technologist/Production Manager For Our Amino Acid Plant
Permanent · Chennai
By
Reuters
Published
Feb 21, 2012
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Zimbabwe's new fees will cripple mines -industry

By
Reuters
Published
Feb 21, 2012

HARARE - Zimbabwe's new mine licence fees and resource rentals will significantly raise the cost of mining and threaten the sector's viability, with as much as 60 percent of mining revenues going to the government, an industry body said on Monday.


Zimbabwe gold mine / Photo: Corbis

The southern African country hiked pre-exploration fees for most minerals by as much as 8,000 percent in January, with registration charges for platinum and diamond claims going up to $2.5 million and $5 million, respectively, in a move it says is meant to curb the speculative holding of mine titles.

Miners now must also pay annual ground rentals ranging from $500 per hectare for chrome to $3,000 per hectare for diamonds, according to a government notice.

The Zimbabwe Chamber of Mines told a parliamentary committee hearing that the new fees, coupled with royalty increases of 7.5 percent for gold and 10 percent for platinum announced in the 2012 budget, would seriously hurt miners who have yet to fully recover from a decade-long economic crisis.

"The fee structure is unworkable. The industry is already overburdened by the totality of statutory charges, royalties, levies and commissions," the chamber's vice president, Allan Mashingaidze, told the parliamentary committee.

"It's estimated that 60 percent of every dollar earned in revenue goes to the government, making Zimbabwe one of the most expensive countries to mine."

Industry players estimate the increase in fees could cost the sector up to $1 billion, sending miners close to bankruptcy.

"We believe the way forward is for government to suspend the new charges, pending consultations with the industry," Mashingaidze added.

The mining industry, which has overtaken the stricken agriculture sector as Zimbabwe's main foreign exchange earner, contributed the bulk of the country's $4.4 billion export earnings in 2011.

Finance Minister Tendai Biti's $4 billion budget for 2012 is anchored by an expected $600 million in revenues from the alluvial Marange fields, where the government has a 50 percent shareholding in all five mines licensed to operate there.

Zimbabwe has the world's second-largest platinum reserves after South Africa, as well as significant gold, diamond, coal, iron ore and chrome resources.

The world's largest platinum miner, Anglo American Platinum , and number two producer Impala Platinum both have operations in Zimbabwe, while global giant Rio Tinto has a diamond mine there. (Reporting by Nelson Banya, editing by Jane Baird)

© Thomson Reuters 2023 All rights reserved.