Zimbabwe Unveils New Gold Royalty to Cash In on Market Rally

Zimbabwe will introduce a new royalty structure for gold miners as the mineral-rich southern African nation seeks to cash in on a surge in the price of the metal.

The measure, effective Jan. 1, is intended to ensure the mining industry contributes its fair share to the fiscus during commodity booms and eliminate arbitrage between different categories of operators, Finance Minister Mthuli Ncube said during a budget presentation on Thursday.