[miningmx.com] – GOLD producers in Zimbabwe have asked the government to lower royalties and power costs in order to stay in business, said Bloomberg News citing a document provided by the country’s Chamber of Mines.
Survival measures such as reducing wages and working hours have not worked sufficiently well therefore gold producers want royalties cut to 2% from the current 5% level and power tariffs reduced 48% to 6.7 US cents per kilowatt hour.
Reducing royalties and power tariffs “will assist producers to break even and sustain production, and ameliorate the potential incidences of closure or placements under care and maintenance, whose adverse implications on employment and revenue are far-reaching,’ the chamber document said.
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