Platinum Mine Fees in Zimbabwe Set to Rise to $2.5 Million

Reuters reported Zimbabwe’s $300 platinum mining fee will rise to $2.5 million to discourage the holding of speculative claims.

As quoted in the market news:

The government will soon announce the changes, which will mostly target the growing platinum and diamond sectors, Prince Mupazviriho, the permanent secretary in the mines ministry, told the state-controlled Herald newspaper.

The application fee for a prospector’s licence for platinum would also soar, to $500,000 from $150, the newspaper said, citing a draft schedule prepared by the ministry.

Click here to read the full Reuters report.