Zimbabwe: mining licence revoked if annual fee is not paid in time

SMM2, March 19: Zimbabwe's mining minister said Thursday it would revoke mining licenses if miners with mining rights do not pay an annual fee of $11 million by the end of April.

Zimbabwe's mining minister, Winston Chitando, said the government had not received at least $11 million in annual fees as of January 30.

Hit by the economic crisis, the country is desperately short of foreign exchange, food, fuel, electricity and medicine, so it is expected that the mining sector will be able to shoulder the burden of economic recovery. In South Africa, mining can obtain huge amounts of foreign exchange.

Zimbabwe has the world's second-largest platinum reserves and rich resources of lithium, gold and chromium, but it has struggled to attract investors.

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