Zimbabwe gives Amplats, Impala Platinum tax break

File: It has suspended the 15 percent tax on the export of unprocessed ore and companies stand to benefit on condition they keep to their side of the agreement. Photo: Flickr.com / U.S. Geological Survey

JOHANNESBURG - Zimbabwe has offered platinum giants Amplats and Impala platinum a two-year tax break.

It has suspended the 15-percent tax on the export of unprocessed ore.

And companies stand to benefit on condition they keep to their side of the agreement.

They must build a mineral smelter in the country within two years.

Government wants precious metals processed locally, and it’s using strict policy to get major companies to comply.

Low metal prices have seen platinum production plummet 6 point 4 percent, to 5 point 9 tonnes during the first half of 2014.

eNCA

Discussion Policy

eNCA.com would like to send you push notifications.
Notifications can be turned off any time in your browser settings.
You have been registered for browser notifications