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Zimbabwe Miners May Negotiate License Fees, Chronicle Says

Feb. 3 (Bloomberg) -- Mining companies may negotiate license fees they pay to Zimbabwe’s government if they can prove they can’t afford newly proposed tariffs, the Chronicle said, citing a mines ministry official it didn’t identify.

The ministry last month proposed that mining licenses be raised to $1,000 per hectare from $10 for five licenses, irrespective of the number of permits, or claims as they are known, the Bulawayo-based Chronicle said. Gold-buying licenses may be doubled to $5,000 a year, it added.

Registration of a platinum license may rise to $2.5 million from $300, while the price of a platinum prospector’s license will climb to $500,000 from $150, according to proposals seen by the Chronicle.

The proposed fee increase hasn’t been made public or signed into law.

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 at asguazzin@bloomberg.net

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