• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Zimbabwe to up diamond mining fees

Dec 02 2011 08:13 Sapa

Related Articles

Amplats gives Zimbabweans 10% stake

Nod to sales from Zim diamond sites

Most miners meet Harare BEE deadline

Zimbabwe to probe foreign firms on BEE

De Beers, Zim diamond feud gets bloody

New Zimplats equity plan approved

 

Johannesburg - Zimbabwe is considering increasing diamond mining application fees to $1m (about R8m), Harare's Herald Online reported on Friday.

It said Mines and Mining Development Minister Obert Mpofu made the announcement on Thursday. He was briefing players in the mining sector.

"We have been in talks with our principals (of the inclusive government) on the issue of increasing application fees for diamond mining to $1m and they have been agreeable," the minister was quoted as saying.

"We also intend to increase licensing fees for new diamond miners up to $5m (about R40m), as well as introduce fees that will be charged for certain mineral blocks."

Mpofu said the new fees would also be applicable to current operators and would be backdated.

"The period where foreign miners exploit our resources for next to nothing is over."

The move was part of broader initiatives by the government to gain leverage on its key natural resources, the Herald reported.

 
zimbabwe  |  mining

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...