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Zimbabwe to stop tax incentives for miners from January 2025
The Government of Zimbabwe has announced that it will discontinue offering tax relief to mining companies starting in January 2025, Bloomberg reported.
This move by the government aims to force companies to establish facilities for processing raw materials within the country.
The Treasury said: “Government has already introduced 5% beneficiation tax on the export of unbeneficiated platinum, with a view to compel mining houses to invest in the requisite plants.
“In addition, government removed customs duty on the importation of the equipment required in the setting up of beneficiation plants.”
This strategy is reflective of Zimbabwe’s aim to maximise the economic benefits of its considerable natural resources, which include the world’s third-largest platinum reserves, trailing only Russia and South Africa.
In a related effort to further enhance local beneficiation, the Zimbabwean Government is currently in discussions with lithium mining companies, according to the news agency.
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- [Editor:邢亚敏]
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