Miners raise caution about new royalties

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CHAMBER of Mines Zimbabwe (CoMZ) has struck a note of caution after Finance minister Mthuli Ncube announced an increase in royalties for the platinum and lithium sectors, saying some miners may struggle to meet the new thresholds.
Presenting the mid-term budget review and supplementary budget last week, Ncube proposed a royalty rate of five percent for platinum producers, which he said would also apply to lithium production, effective from January 1, 2023.