adminTHE Government says it will engage mining companies with a view to gain their buy-in on its intention to increase the threshold of mining royalties for most minerals to between 10 and 15 percent. The move is meant to enhance revenue mobilisation to improve the infrastructure needed for business operations. The Government currently has little to spare for capital formation, as constrained revenue space has resulted in most resources going to meet recurrent expenditure.
INDUSTRIALS
The Industrial Index closed the week on a higher note after putting on 1.83 points (0,83 percent) to close at 222.08 points on the back of subdued trading activity. Afdis was $0,0475 solid at $0,6500, ZB Financial Holdings gained $0,0258 to close at $0,1950 and CFI increased by $0,0215 to settle at $0,6515.
Padenga went up by a further $0,0200 to trade at $0,4000 and Econet added $0,0125 to close at $0,4525.
Zimplow and ZPI lost $0,0010 each to close at $0,0660 and $0,0140 respectively while Meikles traded unchanged at $0,2250.
The industrial index surged by 8.94 points (4,19 percent) compared to week ending 18 August 2017.
MININGS
The Mining index was flat at 70.17 points. Bindura, Falgold, Hwange and RioZim remained unchanged at previous trading levels at $0,0250, $0,0120, $0,0260 and $0,6025 respectively.
Week on week the industrial index retreated by 3.87 points (5,52 percent).
Bongani Ndlovu
Online Reporter