Platinum-group elements are essential for cleaning vehicle exhausts, for manufacturing glass, fertilizer, high-octane fuel and a variety of chemicals, including cancer fighting drugs. They are also widely used in jewelry and electronics.
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.
Zimbabwe to give platinum miners two years before imposing 15% export tax. http://t.co/yDgxAeaRzg— Dave Forest (@piercepoints) August 11, 2015