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Thursday, July 19, 2012

Small-scale miners have resorted to selling gold on the informal market in a bid to evade the recent increase in royalty charges by the government.

Zimbabwe Miners’ Federation chief executive officer Wellington Takavarasha told the Parliamentary Portfolio Committee on Mines and Mining Development that the high tax and royalty burden had reduced small-scale mining activities.......
Takavarasha said there was need for the Ministry of Finance to intervene to address the challenges.
He said unfavourable policies and high charges by the Environmental Management Agency were among the factors discouraging business.
http://www.newsday.co.zw/article/2012-07-19-miners-turn-to-sharks-evade-tax/

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