Miners in Zimbabwe Now Paying Half Royalties in Diamonds

By John Jeffay / December 04, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Diamond miners in Zimbabwe are now paying half their royalties to the government in rough stones, 40 per cent in local currency and 10 per cent in foreign currency.Finance Minister Mthuli Ncube gave details of the new policy last week, saying the government needed to build its national reserve of precious stones and metals, including gold, platinum and lithium.It previously accepted 100 per cent cash payments from mining companies for royalties (the right to extract mineral resources)."We cannot, as the present government, and as the current generation, run and manage finite resources profligately, without any regard for generations yet and sure to come," said President Emmerson Mnangagwa (pictured) in a weekly newspaper column for The Sunday Mail in October.Zimbabwe has huge mineral resources, largely untapped, but has been blighted by economic difficulties and inflation that is currently running at 255 per cent.

Recent News

Gold stocks pause along with metal price

September 07, 2026 / www.canadianminingreport.com

Canadian mining exploration expenditure expected to jump in 2026

September 07, 2026 / www.canadianminingreport.com

Gold stocks pull back after historical surge

August 31, 2026 / www.canadianminingreport.com

Inflows to gold sector jump, but for other metals muted

August 31, 2026 / www.canadianminingreport.com

TSX, TSXV mining equity investment still rising significantly in 2026

August 24, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok