
Subscribe & Follow
Platinum miners express concern over export levy

Both Implats and Aquarius Platinum (Mimosa) who are the biggest and have active platinum operations in the country said the export tax, at a rate of 15% of revenue was initially set to take effect from January 1, 2015.
The introduction of the export tax was aimed at encouraging platinum mining companies to invest in smelting and refining infrastructure in a bid to drive Government's value addition and beneficiation initiatives under the Zimbabwe Agenda for Sustainable Socio-Economic Transformation. Finance and Economic Development Minister Patrick Chinamasa during the presentation of his 2015 National Budget said Government had deferred the export tax on unbeneficiated platinum to January 1, 2017.
"It is not clear whether the export levy will be formally enforced and the Group, in consultation with the Chamber of Mines in Zimbabwe, is presently seeking clarity from the authorities. Implats and its Zimbabwean operations remain committed to securing a conducive regulatory and fiscal framework for the mining industry in Zimbabwe," said Implats in a statement.
Continue reading the full story on allafrica.com
Source: allAfrica

AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 2000 news and information items daily from over 130 African news organisations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Lagos, Monrovia, Nairobi and Washington DC.
Go to: http://allafrica.com/Related
PGM crisis makes Implats consider Canada closure 28 Feb 2025 Diamonds and platinum drag down strong Q2 Anglo production 18 Jul 2024 Sibanye 'isn't short on money', but may shutter metal streaming 26 Jun 2024 Northam CEO Paul Dunne: 'Worst crisis I've seen in 30 years' 1 Mar 2024 Implats earnings projected to take a big hit 9 Feb 2024 Impala Platinum starts voluntary job cuts at SA mines 7 Nov 2023
