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GOVERNMENT has lifted the ban on the export of chrome ore with immediate effect and has further scrapped the 20 percent export tax that was imposed on the export of the same.
The move will allow the country to ship more than 30 million tonnes of chrome ore that had accumulated since the embargo was effected in 2009.
Mines and Mining Development Minister Mr Walter Chidhakwa who made the announcement today said Government had been moved by the plight of chrome producers, including falling revenues to the fiscus.
“In order to enable chrome ore producers to mobilise financial resources for capitalisation to invest in modern technology in smelting as well as address the plight of small scale chrome ore producers, Government has with immediate effect, lifted the ban on the export of chrome ore to allow for the export of up to thirty million tonnes of chrome ore over and above the export of processed ferrochrome.
“Government has also reviewed the current royalty fees for chrome ore from 2 percent to 5 percent whilst the export tax of 20 percent has been removed to allow chrome ore producers to generate income to increase smelting capacity,” said Minister Chidhakwa.
He added that the Government had also reduced electricity tariffs form US$0,08 to US$0,067 cents per kilowatt per hour for chrome ore producers.
Initially, Government banned the export of chrome ore and imposed a 20 percent export tax in order to promote value addition of the mineral.
Online Reporter