Authorities are dealing with an underground phenomenon that has the potential to “totally destabilise the Zimbabwean economy,” deputy finance minister Clemence Chiduwa said
Zimbabwe Chamber of Mines pushes government to lift strict policy Miners compelled to sell 40% of foreign currency to Reserve Bank 07 March 2021 - 15:58 Kevin Samaita The concentrator plant at at Anglo American Platinum s Unki mine in Zimbabwe. Picture: SUPPLIED
Zimbabwe’s Chamber of Mines says it has opened talks with the government to push authorities to repeal regulations that compel miners to sell 40% of their foreign currency to the Reserve Bank of Zimbabwe (RBZ).
Under the regulations, announced in January, exporters are required to sell 40% of export earnings to the central bank, up from the previous 30%, in exchange with the local currency.
Zimbabwe’s mining policies irk investors Anglo American Platinum lashes out at new tax regime announced by the Zimbabwean Reserve Bank in January BL PREMIUM 28 February 2021 - 17:38 Kevin Samaita
Harare Top mining investors in Zimbabwe, including JSE-listed Anglo American Platinum (Amplats), have raised the red flag over Zimbabwe’s new punitive tax regime, after the Reserve Bank of Zimbabwe hiked exporters’ retention thresholds to 40% from 30%.
The new tax regime introduced in early January compels miners to surrender more foreign exchange earned from mineral exports.
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