adminIn an interview, ZMF chief executive officer Mr Wellington Takavarasha said they were not concerned by the reduction of the mining fees in percentage terms.
He said it was important to note that the fees were increased to levels that impacted negatively on operations by small-scale miners.
“Our concern is not about the fees being cut by 50 percent. We want the Government to realise the full potential of the small-scale miners by reviewing the fees so that they are affordable to ZMF,” he said.
Government through the Ministry of Mines and Mining Development said it had increased the mining fees and levies by a margin of up to 8 000 percent to curb speculative holding of mineral claims by unscrupulous players in the sector.
Mr Takavarasha said that in reviewing the fees it was critical for Government to base on the initial charges so that there was a win-win situation between the stakeholders in the industry.
In January, the registration fees for platinum and diamond claims rose to $2,5 million and $5 million respectively while those for coal, coal-bed methane and other mineral oils increased to $500 000.
At present mining firms are paying annual rental of $500 per hectare for chrome and $3 000 per ha for diamonds.
The mining industry has been Zimbabwe’s most active sector, leading economic recovery over the past three years with an average annual growth rate of more than 30 percent.
According to figures from the Ministry of Finance, mineral exports rose by 230 percent over the 2009 to 2011 period, making the industry the leading export sector.
Last year, mineral exports accounted for 47 percent of total exports, led by platinum, gold and diamonds.
Online Reporter