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Zimbabwe Platinum Export Tax Uncertainty Puzzles Companies
Feb. 02, 2015 06:08AM PST
Precious Metals InvestingMining Weekly reported that a platinum export tax levied by the Zimbabwean government in 2013 was not included in the country’s 2015 finance bill. The move has left platinum companies confused.
Mining Weekly reported that a platinum export tax levied by the Zimbabwean government in 2013 was not included in the country’s 2015 finance bill. The move has left platinum companies confused.
As quoted in the market news:
Platinum majors Impala Platinum (Implats) and Aquarius Platinum – both of which have active platinum operations in the country – said in respective statements on Friday that the export tax, at a rate of 15% of revenue, was initially set to take effect from January 1, 2015.
The tax was aimed at encouraging platinum mining companies to invest in smelting and refining capacity in Zimbabwe.