Zimbabwe Rejects Industry Calls for Platinum Tax Relief

Zimbabwe has rejected appeals by the country’s largest platinum miner Zimplats, the local unit of Impala Platinum Holdings Ltd., to further extend the 5% tax exemption.

• Zimplats CEO Alex Mhembere had asked the Treasury to further extend the export tax waiver on the portion of Mimosa’s total PGM concentrates, but the appeal was denied by the Ministry of Finance
• Secretary for Finance, George Guvamatanga, rejected the appeal saying the move will be “retrogressive,” according to a letter sent to Mhembere seen by Bloomberg
• NOTE: Guvamatanga confirmed the letter, while a spokesperson for Zimplats was unavailable for comment
• NOTE: The ...