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LocalNews

Zim pegs US$36 for ordinary prospecting license

By Business Reporter – Monday 17 February 2020

HARARE (Mining Index) – GOVERNMENT of Zimbabwe, through the Ministry of Mines and Mining Development last week reviewed upwards mining fees and costs of related mining services for year 2020.

The updated schedule reveal that an ordinary prospecting license is now pegged at ZW$1 000, up from ZW$200.

However, the new tariff equates to US$35 using todays’ black market exchange rate of US$1 to ZW$28.

Previously, application for an ordinary prospecting license for ZW$200 was US$7.14.

Application for an Exclusive Prospecting Order (EPO) has been set at ZW$10 000 (approximately US$357).

Registration to deal in precious stones now costs ZW$100 000 for a five year period.

Export permit fees have also been revised, with the platinum group concentrate fees being the highest fixed at ZW$62 500. White matte, copper and uncut diamonds fees have been pegged at ZW$50 000.

Custom Milling License has been set at ZW$25 000 per annum while a penalty for operating without a Custom Milling License attracts the same charge of ZW$25 000.

License fees to manufacture explosives at a factory have been put at ZW$50 000 while the fee to manufacture at a mine now costs ZW$5 000. ENDS// www.miningindex.co.zw 

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