Zimbabwe is set to raise royalties on gold producers to capitalize on soaring bullion prices, according to the country’s 2026 national budget. Gold miners will face a 10% royalty on production when prices exceed $2,501 per ounce, reflecting an effort to boost state revenue and support local industry. Although gold has dipped 5% from its October record high of $4,381.21, it has largely remained above $4,000 per ounce, sustaining significant earnings for producers. Finance Minister Mthuli Ncube emphasized that the revised royalty structure aims to ensure the mining sector contributes fairly during price surges while harmonizing payments across all producers. Zimbabwe’s economy remains heavily reliant on gold and tobacco exports, with major producers including Caledonia Mining, Kuvimba, Padenga, and RioZim.
Reuters
