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"All mineral exporters and financial institutions are hereby advised that, with effect from May 27, 2021, the responsibility to deduct and remit mining royalties to the Zimbabwe Revenue Authority...


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As Zimbabwe has not kept pace with other African governments in disclosing mining contracts, the only public source of information on the tax terms that apply to the project come from Caledonia's filings to their investors. There are three main sources of government revenue from the Blanket mine: a 5% royalty on the value of gold sales, a 25%


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FINANCE (NO. 2)

Paragraph (a) of this clause will enable miners to deduct royalties from their income from mining operations. Paragraph (b) relates to the Sixth Schedule to the Income Tax ... earned in Zimbabwe currency or a foreign currency. Disposal of immoveable property after the 22nd February, 2019, will attract a CGT of 20% of the taxable gain, whether


3.10 Exposure to Risk with Periodic Mineral Royalties 125 3.11 Private Party Mineral Royalties in South Africa, 1990–2004 130 3.12 Differences between State and Private Mineral Royalties in South Africa 132 4.1 Gold Model (leveraged) Summary of Royalty and Tax Calculations 151 4.2 Gold Model (100% equity) Summary of Royalty


Mining Royalties Zimbabwe 2020 National Budget Statement –Taxation Proposals │Mining Royalties © 2019. Deloitte Touche Tohmatsu Limited 7 The rate of royalties on sale of diamonds is to be reduced to 10% from 15%. No royalty will be payable in respect of diamonds sold to a local manufacturer at a discount equivalent to the royalty.


Inside Zimbabwe's illicit gold mining trade. The Ministry of Finance says it has been losing about $1.8bn of mineral revenues; especially from gold smuggling. Kazembe Kazembe, the Minister of Home Affairs, said Zimbabwe has been losing some $100m worth of gold every month through international smuggling rings and the country's porous borders.


NI 43-101 Technical Report on the Blanket Mine, Gwanda Area, Zimbabwe i CALEDONIA MINING CORPORATION PLC DATE AND SIGNATURE PAGE This Report titled "National Instrument 43-101 Technical Report on the Blanket Mine, Gwanda Area, Zimbabwe" was prepared on behalf of Caledonia Mining Corporation Plc. The Report is compliant with


Whether it's Mexico's gold or Zimbabwe's diamonds, mining is riven with violence and business is complicit ... in royalties and other fees from diamond mines, down from $84m in …


THE Zimbabwe Revenue Authority (Zimra) has started executing its recently added mandate of deducting mining royalties, through banking institutions, on behalf of Treasury. The tax authority said ...


Zimbabwe's multi-billion-dollar mining sector has been granted the nod to pay part of their royalties, taxes and rural district council levies in local currency in a major boost for the capital intensive sector. The sector contributes …


Increase of area of mining lease. 155. Abandonment of portion of mining lease. 156. Total abandonment of mining lease. 157. Failure to comply with terms and conditions of mining PART IX SPECIAL MINING LEASES 158. Interpretation in Part IX. 159. Application for special mining lease. 160. Application of certain provisions of Part VIII to special ...


42. Duration and renewal of mining licence 43. Amendment of programme of mining operations 44. Rights conferred by mining licence 45. Obligations of holder of mining licence 46. Wasteful mining and treatment practices 47. Suspension of production 48. Export of radioactive minerals 49. Trading in mining areas 50. Transfer or assignment of mining ...


In a paper which spells out the Zimbabwe Environmental Law Association (Zela)'s expectation for the upcoming budget, the resources campaigner said the country was receiving only US$90 million in royalties from minerals annually.


The Zimbabwe Environmental Law Association ... In many parts of Africa, including Zimbabwe, Chinese mining investors have exhibited a history of bad safety, health, environmental, labour and human rights standards. Poor working conditions at Chinese companies are an old problem that is increasing. ..., royalties and gold production levels and ...


The rates of royalties vary per mineral and are collected at export and disposal. On behalf of Government Fidelity Printers and Refiners collects royalties for gold and silver when it disposed to them and Minerals Marketing Corporation of Zimbabwe for all other minerals when export receipts are received. 5. Payment to Rural District Councils (RDCs)


"The mining royalties that the country rakes in from all minerals per year (approximately US$90 million based on the 2021 mid-term budget performance) are far below the revenue that is lost ...


Mbada Diamonds was founded in August 2009 and is a parity shareholding between the government of the Republic of Zimbabwe through Zimbabwe Mining Development Corporation (ZMDC) through Marange Resources –a wholly owned ZMDC subsidiary-and the New Reclamation Group (South Africa) through Grandwell Holdings, [New Zimbabwe 18 October …


THE value of minerals being smuggled out of Zimbabwe far outstrips the royalties that government earns annually from resources, fresh data shows last week, as calls to crackdown on black market trade increased ahead of the 2022 national budget. In a paper which spells out the Zimbabwe Environmental Law Association (Zela)'s expectation for the ...


Vox Royalty has agreed to acquire two platinum group metals (PGM) royalties from a South Africa-based private company for $8.3m (C$10.4m). The firm will purchase a 1% gross receipts royalty over the Dwaalkop Project and a 0.704% gross receipts royalty over the Messina Project. These two projects jointly cover the full extent of the Sibanye ...


The Arcadia lithium project located near Harare, Zimbabwe, is considered to be one of the world's biggest hard rock lithium resources. Prospect Resources fully owns the lithium project, which is estimated to produce an average of 75,000 tonnes per annum (tpa) of spodumene and 155,000tpa of petalite concentrates during its 20-year mine life. The pre-feasibility …


It is also a holder of a Mining Agreement (M.A) signed between it and the Government of Zimbabwe (the Government). Both documents were executed on 24 August 1994. Up until December 2003, the applicant paid a flat royalty rate of 2.5% across the board for all products as per the royalty rate contained in the Mining Agreement.


the Zimbabwe Mining Development Corporation Act [Chapter 21:08] – provides for the establishment, constitution, functions, powers and duties of the Mining Development Board and regulates the financial affairs of the Zimbabwe Mining Development Corporation;


Mining royalties can be imposed at the national level or provincial/state level of government. In most countries, the mining royalty rates vary by type of mineral. In countries where the state or province assesses and collects the royalty, the local royalty rate can vary by over 10 percent between locations. In some countries,


Local mining companies have raised concern over payment of statutory obligations in foreign currency, arguing this was putting pressure on the current forex retention level now inadequate to meet ...


Mining royalties With effect from 1 January 2010. The following are deemed to be agents of the Commissioner General for purposes of collecting royalties on the sale of minerals. All minerals except gold; the Minerals Marketing Corporation of Zimbabwe (MMCZ) or any person authorized by them to export such minerals in its own right.


Zimbabwe: Mining Laws and Regulations 2022. ICLG - Mining Laws and Regulations - Zimbabwe covers common issues in mining laws and regulations – including the acquisition of rights, ownership requirements and restrictions, processing, transfer and encumbrance, environmental aspects, native title and land rights – in 15 jurisdictions.


These "data extractors" spent three days in Harare digging into and analysing financial data in publicly available reports that detail the payments made by mining companies to governments (such as royalties, taxes, fees, etc.). They are finding discrepancies between what companies report they are paying and what governments report they are ...


Mining royalties continue to be collectable in foreign currency to the extent the amounts from which they are withheld are foreign currency amounts. ©20. 20 KPMG Zimbabwe is a Zimbabwean partnership and a member firm of the KPMG network of independent member firmsaffiliated w ith KPMG Inter national Cooperative ("KPMG


"The idea is a special-purpose vehicle out of which we can then raise resources on the back of some escrowed tax revenues from specific sources that are ring-fenced," Ncube said, adding that the tax could be in the form of mining royalties. Zimbabwe exports platinum, gold, nickel and chrome.


Currently, the budget discloses separately the tax revenue that is being generated from the mining sector through mining royalties. The Mid Term Budget Review revealed that the country managed to rake in ZW$ 7,698,897,054 from …


"We will be reviewing royalties so that we can attract gold into our system and Fidelity can start working on gold for refinery purposes," Chidhakwa told The Source recently. The mining sector is one of Zimbabwe's major economic drivers which experienced an average growth of 19.9 percent in the period 2009 to 2012.


"Public notice number 56 of 2021 reference 'deduction and payment of mining royalties' issued by Zimra provides that with effect from 27 May 2021, financial institutions must deduct mining royalties from payments received in relation to exports of minerals by the mining companies," BAZ said in the paper.


2 ZIMBABWE'S mining industry is projecting a significant increase in production this year despite battling Covid-19 related challenges that have been afflicting the sector for the past two years. According to the Chamber of Mines of Zimbabwe (CMZ), major increases in production this year are expected in diamonds, coal, gold and chrome.


Zimbabwe: Tax measures in 2022 budget. ... The budget for 2022 (presented 25 November 2021) includes the following revenue-raising proposals. Mining royalties. Ability to deduct mining royalties expanded to include financial institutions; Changes to the calculation of the royalty for PNG metals, gold, and diamonds ...


Ministry of Mines and Mining Development also known as the Ministry of Mines is responsible for the administration of the Mines and Minerals Act (Chapter 21:05) of Zimbabwe. Its mission is to promote sustainable exploration, mining, processing, marketing and management of mineral resources for the benefit of all Zimbabweans.


The Blanket gold mine is an underground gold mine located in Zimbabwe. Operated by Caledonia Mining, the mine is jointly owned by Caledonia (64%) and Zimbabwean shareholders (36%). The Blanket mine began production in 1904 and was acquired by Caledonia Mining from Kinross Gold in 2006. It currently produces approximately 1,200t of ore a day.