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4 days agoThe government has attracted hundreds of millions of dollars in investment mainly in mining Platinum giant Zimplats will invest $ over the next 10 years following negotiations with
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Nov 18 2022One of the key proposals that the CGS has put forward to the government is to secure 5% of global exploration potential by 2024 Together with the Minerals Council South Africa the CGS developed an Exploration Implementation Plan that was proposed to the government which approved the strategy in March 2024
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The prevailing taxation regime for mining companies in Zimbabwe includes the following provisions Corporate Income tax at 25 75% Exploration development and capital costs can be expensed against profit in the year incurred or carried forward to be expensed against the first year of production
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Mauritius based Sotic International has snapped some of Zimbabwean biggest mines Landela Mining Ventures which is controlled by Sotic bought two of Zimbabwe s gold mines this year The newcomer is targeting six more mines including four idled state owned operations said Sotic Chief Executive Officer David Brown
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2 days agoNcube projects total expenditure will more than double to trillion Zimbabwe dollars $ billion in the 2024 budget The bulk of the funds will be spent on social services and infrastructure
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Trade and Investment Mining Sector Manufacturing Sector Agricultural Sector Tourism Sector Infrastructure Development Dam Construction Privatization of Parastatals Taxation System in Zimbabwe
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Jul 16 2022The following are some of the best investment opportunities in Zimbabwe post COVID 19 Mining Investment opportunities beckon in the beneficiation of special minerals such as Diamond Gold Nickel Platinum Copper Lithium and Chrome close to source Foreign investors can setup joint ventures with government or snap majority shareholding
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1 day agoThe plan presented by Zimbabwean Finance Minister Mthuli Ncube on Thursday breaks the payment down to half in mineral form 40% in local currency and 10% in foreign currency cash
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And in another encouraging sign for investors Foreign Minister Sibusiso Moyo has said that Zimbabwe will no longer require mining firms to list on the Harare stock exchange
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With over 120 dedicated lawyers Linklaters Antitrust Foreign Investment Group is one of the world s leading antitrust law practices advising clients on fast evolving competition and foreign investment laws across the globe
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Sep 6 2022Yet new mining projects do get announced in Zimbabwe One is Tharisa s proposed $250m Karo Platinum Project which aims to produce 150 000oz/year of PGMs doubling the size of the Johannesburg listed firm s current South African production Absolutely you can invest in Zimbabwe says Ilja Graulich spokesman for the company
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3 days agoMiners in Zimbabwe are obligated to pay royalties to the State from the minerals they would have extracted Royalty is a charge that the government levies on the volume of minerals produced at a mine or the income or profit made from the sale of those minerals These royalties are remitted to the Revenue Authority adding on to the state reserve
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This law has been a massive impediment to investment in mining considering the amount of capital required in mining only for an investor to wake up 49 percent share of that investment The law has remained a challenge up until recently that Government decided to scrap the legislation and it now only applies to the diamond and platinum sectors
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Apr 30 2021Research approach and method The study employed the autoregressive distributed lag ARDL method to evaluate the determinants of FDI into the Zimbabwean MS Main Findings The results show
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2 days agoThe economy is now projected to grow by 3 8 percent in 2024 driven by mining construction and agriculture Favourable international commodity prices normal to above normal rainfall
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3 days agoPresident Emmerson Dambudzo Mnangagwa in his STATE OF THE NATION ADDRESS SONA at the opening of the fifth session of the ninth Parliament of Zimbabwe today said investment in the lithium mining sector was Rudairo Mapuranga Speaking at the new parliament building in Mt Hampden Mnangagwa said there is notable growth in the gold coal chrome Platinum Group Metal PGM and
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Of particular interest is the China Zimbabwe BIT given the substantial role played by Chinese investors in Zimbabwe s diamond mining industry and economy at large Article 1 e of the BIT specifically defines investments to include business concessions conferred by law including concessions to search for or exploit natural resources
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Mining Zimbabwe s Post Mining Zimbabwe 58 507 followers 10h Report this post Report Report Back
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Oct 24 2022UNCTAD has been collecting information on changes in national foreign direct investment FDI policies on an annual basis since 1992 This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report the quarterly Investment Policy Monitor since 2024 and the UNCTAD OECD Reports on G20 Measures
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As such the new mining law and its strategy is not only expected to bring about a quantum leap in the industry but also increase the sector s contribution to non oil GDP by more than SR240 billion $64 billion reduce imports by about SR37 billion and create at least 200 000 new direct and indirect jobs for Saudi nationals
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Nov 26 2020Mining in Zimbabwe is the main source of income for the state The share of gold in exports is 60% In 2024 a comprehensive reform of the country s diamond mining sector was carried out At the moment Zimbabwe is gripped by an economic crisis experiencing an acute shortage of fuel and power outages and inflation has reached 520%
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1 day agoZimbabwe earned about US$5 billion from mineral exports in 2024 as investments by mining entities in recent years boosted output and placed the country firmly on course to meet its target of a
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2 days agoOur FDI Projects Database also shows that out of the projects tracked between 2024 and 2024 17% were in the pharmaceutical sector while logistics aerospace automotive and food all ranked in joint second place with 11% of the share each
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The Impact of Foreign Direct Investment in the Mining Sector … FOREIGN DIRECT INVESTMENT TRENDS IN ZIMBABWE 2024 2024 FDI into Zimbabwe is on a downward trend since 2024 falling by 23% to US$289 million in 2024 compared to US$372 million recorded in 2016³ refer to igure 1 below
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The 17 th site privately owned belongs to RioZim which operates Murowa diamond mine located south central of Zimbabwe The newly enacted Zimbabwe Investment and Development Agency ZIDA Act provides investors with facility to transfer funds without restriction or delay into or outside Zimbabwe
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Now the foreign investors are being forced to give up their ownership interests as part of the Zimbabwean government s decision to move all diamond mining activities under the auspices
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HARARE Reuters A Cypriot investor signed a $ billion deal on Thursday to develop a platinum mine and refinery in Zimbabwe an investment that President Emmerson Mnangagwa said
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Nov 17 2022And I can assure you that we are receiving more foreign investments now than before sanctions he said Foreign Affairs and International Trade Minister Frederick Shava said last week that Zimbabwe had received US$3 o8 billion in foreign direct investment FDI between 2024 and 2024 with China accounting for 76 percent of that
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Diamond mining contributes to 50% of the government revenue mainly through its 50 50 joint venture with De Beers in the Debswana Diamond Company [21] It is rated as the least corrupt country in Africa in the Corruption Perceptions Index by international corruption watchdog Transparency International
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For the mining sector to grow foreign investors must compete with big mining companies such as Zimplats RioZim Bindura Nickel Corporation BNC and Mimosa among others Below are sentiments shared by local Zimbabwean miners on why the government should set a minimum investment threshold for foreign investors
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