By Stanley James
Mining sector players have described the government’s decision to revert to old mining registration fees as key to the achievement of the US$12 billion mining economy by 2023.
Ticker Head: Mining sector on fees
Relief for the mining sector as government repeals mining fees hike
Last week, the Ministry of Mines and Mining Development increased the fees by over 800 percent.
However, following an outcry by the sector, government has reversed the decision.
Institute of Mining Research Chairman, Mr Lyman Mlambo said the latest development will ensure sustainability of the mining firms.
“It will provide an opportunity for new projects in the industry because we still years for more investments.”
Parliamentary Portfolio Committee on Mines and Mining Development Chairman Mr Edmond Mkaratigwa spoke on the need for wider consultations.
“The need for a wider spectrum consultation is key to ensure that the sector is in tandem with viable trends.”
The reversal to the old rates has been made in terms of section 403 of the Mines and Minerals Act (Chapter 21;05).
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