RapNet


Rapaport News

 

Mining

 
Rapaport ブロードキャスト
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

詳細検索
最新記事
ビデオ
機能
ニュース
マイニング
原石市場
加工品市場
製造
小売

Zimbabwe to Take Smaller Cut of Diamond Sales

Government aims to attract investors with lower royalty rate of 10%.
Nov 18, 2019 10:42 AM   By Rapaport News
Print 印刷 Facebook Facebook Twitter Twitter 共有 Share


RAPAPORT... 
Zimbabwe plans to reduce the percentage of sales diamond miners must pay to the state, aiming to encourage companies to invest in the Marange fields.

The government proposed a new royalty rate of 10% in the annual budget last week. Diamond producers currently pay 15% of gross revenues, but their overall costs have escalated as they shift toward hard-rock — or “conglomerate” — mining, which is lucrative but expensive.

The change could benefit companies such as Russia’s Alrosa, which is exploring for rough in the country, as well as Botswana Diamonds and Vast Resources, which operate a joint venture at the Marange fields.

“The royalty rate of 15% on diamonds was set during the period when mining was predominantly alluvial, and extraction cost was relatively low,” Mthuli Ncube, minister of finance and economic development, explained in his budget statement. “However, diamond miners are [now] exploiting conglomerate deposits, hence the cost of extraction has significantly increased.”

Last year, the state-owned Zimbabwe Consolidated Diamond Company installed a crushing plant at Marange to help it process the harder rock. The nation plans to increase its annual production to 11 million carats by 2023, from 3.2 million carats in 2018, Reuters reported last month.  

The state intends to introduce the lower royalty rate on January 1 with the goal of attracting investment in exploration and extraction. The country has also made progress in its plans to repeal an “indigenization” law limiting foreign ownership of diamond and platinum mines, Ncube continued.

Image: A stone from Zimbabwe during Rough Diamond Week at the Israel Diamond Exchange in 2016. (Shutterstock)
タグ: Alrosa, Botswana Diamonds, Marange, mining, Mthuli Ncube, Rapaport News, royalties, royalty, Russia, Vast Resources, Zimbabwe
類似記事
コメント: (0)  Add comment コメントを追加
コメントを変更 古い順



連絡先: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    プライバシー ポリシー  
  
twitter twitter
会社概要 Rapaport
RapNetに広告を載せる