Zimbabwe's mining sector is on track to hit $7 billion in earnings by year-end and should climb to $7.5 billion next year, with gold and platinum group metals carrying most of the weight. Gold deliveries are expected to reach 45 tonnes as prices spike over 50% to about $4,160 per ounce, and forecasts suggest it could jump to $4,900 soon. The Chamber of Mines bumped up its original projections after seeing how hard miners are cashing in on the rally.
Mining execs are actually pretty optimistic about commodity prices improving, but they're getting nervous about everything else. The government keeps squeezing harder on taxes and revenue collection through Zimra, and power cuts are forcing companies to dump more cash into backup energy solutions. The foreign currency situation looks rough with a 70% retention threshold on earnings, and there's a bunch of red tape around policy amendments that keeps dragging on.
Mining execs are actually pretty optimistic about commodity prices improving, but they're getting nervous about everything else. The government keeps squeezing harder on taxes and revenue collection through Zimra, and power cuts are forcing companies to dump more cash into backup energy solutions. The foreign currency situation looks rough with a 70% retention threshold on earnings, and there's a bunch of red tape around policy amendments that keeps dragging on.
