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Zimbabwe scraps gold royalty hike, sets higher threshold for windfall tax
By Nelson Banya
Reuters
Wednesday, December 17, 2025
HARARE, Zimbabwe -- Zimbabwe has reversed plans to double its gold royalty rate to 10%, a new 2026 budget bill showed on Wednesday, following protests by miners and industry groups.
A royalty rate of 5% would continue to apply for gold prices between $1,200 and $5,000 per ounce, according to the revised budget bill, which was approved by Zimbabwe's lower parliament chamber in the early hours of Wednesday following lengthy debate.
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In his budget speech last month, Finance Minister Mthuli Ncube had proposed doubling the gold royalty rate to 10% for gold sold above $2,501 an ounce.
During the late-night budget debate, however, he told lawmakers that a 10% royalty rate would now apply only if the bullion price topped $5,000 an ounce. ...
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