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Economy

Supporting mining companies to increase exports through export incentives, retention of export proceeds, and favourable taxes, levies and utilities.

In Progress

One hundred percent (100%) US$ payment of all gold sales to Fidelity Printers and Refineries (FPR)

Herald

    

May 26, 2020

State gold buying entity, Fidelity Printers and Refineries (FPR), has finally yielded to pressure from gold miners and will with immediate effect settle payments 100 percent in US Dollars. FPR had all along been paying 55 percent in USD with the remainder being settled in local currency at the prevailing interbank exchange rate.

Previous Updates

Cabinet approved $350 Million ZISCO Deal

Herald

    

April 17, 2019

Government approved a $350 million investment deal in which ZimCoke (Pvt) Ltd will revitalise the coke plant within Ziscosteel, creating more than 800 jobs for a company that is to employ 5 000 people at its peak. Of the $350 million, $133 million will be a capital injection, while $225 million will cover the debt owed by Ziscosteel to German bank, KFW. This will give ZimCoke full ownership of the coking plant. At full tilt, the project is expected to produce 500,000 tonnes of coke annually, for both local use and export markets. Government’s Transitional Stabilisation Programme (TSP) targets reopening of closed mines, expansion of those that are operating below capacity and opening of new ones.

    

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