Zimbabwe Makes U-Turn on Mining Royalties to Halt Currency Slide
- Miners need to pay up to half of royalties in local currency
- Zimbabwean dollar lost almost a quarter of its value in 2021
A mine project, near Harare, Zimbabwe.
Photographer: Godfrey Marawanyika/BloombergThis article is for subscribers only.
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Zimbabwe’s finance minister requested mining companies to pay up to half of their royalties in local currency, as part of measures to stem a decline in the unit that has been fanning inflation.