Zimbabwe Raises Mining Fees by Up to 5,000%, Sunday Mail Says
Zimbabwe’s mining ministry has raised license fees by as much as 5,000 percent, the state-controlled Sunday Mail said, citing a government decree.
Registration of diamond mining licenses, known as claims, will rise to $5 million from $1 million, while an application for a platinum mining license has increased to $500,000 from $200, the Harare-based Sunday Mail said on its website. Should the application be successful, the license to operate a platinum mine will climb to $2.5 million from $500, the Sunday Mail added.
The increase in fees, published by the government, has been criticized by both small-scale and large-scale miners, the Sunday Mail said.
Zimbabwe has the world’s second-largest platinum reserves after neighboring South Africa.
To contact the reporter on this story: Brian Latham in Johannesburg at blatham@bloomberg.net.
To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.
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