DIAMOND COMPANIES CRY FOWL OVER GROUND RENTAL FEES
Written by Panashe Madzinga on April 10, 2018
Diamond producers says the government should consider scrapping off Statutory Instruments with a provision of an annual ground rental fees, arguing that they are a charge with no origins in the current Mines and Minerals act.
Rio Zim Chairman , Mr Lovemore Chihota says diamond companies are still made to pay annual ground rentals despite the withdrawal of the Statutory Instrument issued in January 2018 by the minister of mines.
He challenged the ministry of mines to apply similar basis to nullify the previous SIs which are still in existence hence hindering operations.
Diamond companies in the country have been lobbying for the relaxation of a number of regulations governing the sector including royalty rates, proposed indigenisation on diamond and platinum mines as well as policy on local sales contained in the 2018 finance bill.