Zimbabwe has suspended its 15% levy on raw platinum exports after mining companies asked the government to give them two years to set up smelters and refineries, according to a report by the state-owned The Herald newspaper.
The government introduced the tax on unrefined platinum in January to encourage local processing of the metal.
Minister of mines and mining development, Walter Chidhakwa, was cited by The Herald as saying that he had presented the mining companies' request to defer the tax in a report to Cabinet and that it had been accepted.
"On the strength of that, Cabinet allowed that they (companies) be given two years to implement their plans. We are confident that we will ensure that they do so not only in two years, but even within a shorter period," Chidhakwa reportedly said.
Zim suspends raw platinum export tax
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