Reuters reported that Zimbabwe plans to suspend a 15 percent tax on raw platinum exports to give mining companies two years to set up smelters and refineries in the country.
Reuters reported that Zimbabwe plans to suspend a 15 percent tax on raw platinum exports to give mining companies two years to set up smelters and refineries in the country.
As quoted in the publication:
President Robert Mugabe’s government introduced the levy on unrefined platinum in January to encourage local processing of the metal. Miners, however, said this would slash their margins at a time global prices were falling.
Anglo American Platinum (Amplats), Impala Platinum Holdings and Aquarius Holdings own mines in Zimbabwe, which holds the second-largest reserves of the metal.
Mines Minister Walter Chidhakwa told the Herald, which reflects government thinking, that he had presented the mining companies’ request to defer the tax in a report to Mugabe’s cabinet and the cabinet had accepted it.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1818.46 | -0.35 | |
Silver | 20.59 | -0.15 | |
Copper | 3.71 | -0.07 | |
Palladium | 1883.50 | -78.50 | |
Platinum | 903.50 | -15.50 | |
Oil | 108.29 | -1.49 | |
Heating Oil | 3.91 | -0.04 | |
Natural Gas | 6.54 | +0.04 |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Featured stocks
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.