Zimbabwe’s Mining Fiscal Regime: H1 2015

GlobalData's fiscal regime report covers Zimbabwe which is rich in mineral resources such as gold, nickel, copper, zinc, lead and minerals used in industrial processes (limestone, phosphate and dolomite). The country has resources of the platinum group of minerals (PGMs). Zimbabwe’s mining industry is governed by the Ministry of Mines and Mining Development. The Mines and Mineral Act of 1961 is the main act consolidating and amending laws related to mines and minerals.

Scope

The report outlines Zimbabwe's governing bodies, laws, licenses, rights, obligations and key fiscal terms which includes royalty, corporate income tax, capital gains tax, presumptive tax, withholding tax, customs and excise incentives, fiscal incentives, loss carry forward and value added tax (Vat).

Key Highlights

• Ministry of Mines and Mining Development facilitate and regulate sustainable mining, and the marketing of the country’s mineral resources

• Minerals Marketing Corporation of Zimbabwe is an exclusive agent for marketing and selling of all minerals produced in Zimbabwe except silver and gold

• The Mines and Mineral Act chapter 21:05 of 1996 governs the mining sector in Zimbabwe

• Base Minerals Export Control Act regulate the export of base minerals from Zimbabwe.

Reasons to buy

Gain an overview of Zimbabwe's mining fiscal regime.

Companies mentioned

Table of Contents

1 Executive Summary

2 The Zimbabwean Mining Industry – Governing Bodies

2.1 Ministry of Mines and Mining Development

2.2 Minerals Marketing Authority of Zimbabwe (MMCZ)

2.3 Environmental Management Agency

3 The Zimbabwean Mining Industry – Governing Laws

3.1 Mines and Minerals Act

3.2 Base Minerals Export Control Act

3.3 The Zimbabwe Mining Development Corporation Act

3.4 Environmental Management Act

4 The Zimbabwean Mining Industry – Mining Regulations

4.1 Ordinary or Special Prospecting License

4.2 Exclusive Prospecting Order

4.3 Mining Lease and Special Mining Lease

4.4 Special Grant

5 The Zimbabwean Mining Industry – Rights and Obligations

5.1 Rights

5.2 Obligations

6 The Zimbabwean Mining Industry – Key Fiscal Terms

6.1 Royalty

6.2 Corporate Income Tax

6.3 Capital Gains Tax

6.4 Presumptive Tax

6.5 Withholding Tax

6.6 Fiscal Incentives

6.7 Customs and Excise Incentives

6.7.1 Rebate of duty on goods for the mining industry

6.7.2 Rebate of duty on goods for the prospecting and research for mineral deposits

6.7.3 Rebate of duty on goods imported in terms of an agreement entered into pursue a mining lease

6.8 Loss Carry Forward

6.9 Value Added Tax

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Secondary Research

7.4 Primary Research

7.5 Contact GlobalData

7.6 About GlobalData

7.7 GlobalData’s Services

7.8 Disclaimer

List of Tables

Table 1: The Mining Industry in Zimbabwe – Fiscal Regime Terms and Other Taxes (%), 2015

Table 2: The Mining Industry in Zimbabwe – Royalty Rates (%), 2015

List of Figures

Figure 1: The Mining Industry in Zimbabwe – Commodity Mines at Different Stages (Number of Mines), 2015

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