Miners applaud suspension of 5 percent levy on raw materials

Staff Reporter

Platinum miners in Zimbabwe have welcomed the move by Government to suspend the five percent levy on all platinum exports.

A miner who spoke to this publication said the statement by the Minister of Mines and Mining Development Honourable Winston Chitando that Government was to suspend the levy in order to sustain beneficiation plans, shows goodwill between the two parties.

Yesterday, Minister Chitando said that Government was convinced that the platinum mining sector was ready to add value to the product and suspension of levy was a way of supporting the industry.

 “Remember the sector has been submitting plans to add value to the commodity, and it is within such perspective that the largest country’s largest producer, Zimplats, is investing over US$1.8 billion on the refinery plant such that by end of 2026 it will be complete and we are really convinced by commitment to such plans,” said Minister Chitando.

A source from Zimplats who refused to be identified said that the suspension of levy would boost the morale of platinum miners and he expected production from platinum miners to increase.

The same source further expressed optimism in the move by Government to suspend the levy on raw exports and said that it shows that the Government was walking the talk in ensuring that a US$12 billion mining industry will be a reality soon. He added that the suspension of the tax was vital to the growth of the platinum extraction sector.

Meanwhile, the removal of the levy is one of the many ways in which Government has implemented in order to assist the economy that is suffering from machinations of economic saboteurs. Government has also suspended duty on the importation of passenger carrying busses and on some listed basic commodities.